Fidelity Management & Research Co.. recently announced the acquisition of new stake in Liberty Oilfield Services Inc. (NYSE:LBRT). The institutional investor has increased its shareholding in the Energy company by 56.61% to 6.7 million shares with purchase of 2.42 million shares. This fresh investment now brings its stake to 8.14% valued currently at $37.85 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.59 million to 5.7 million shares. And BlackRock Fund Advisors has lifted its position by 17.67% or 0.59 million shares – to 3.92 million shares.
With over 3.9 million Liberty Oilfield Services Inc. (LBRT) shares trading Tuesday and a closing price of $8.75 on the day, the dollar volume was approximately $34.15 million. The shares have shown a positive weekly performance of 33.59% and its price on 09/01/20 gained nearly 35.66%. Currently, there are 83.29M common shares owned by the public and among those 64.55M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 16 analysts who have offered their price forecasts for LBRT have a consensus price objective of $7.20. The analysts have set the share’s price value over the next 12 months at a high of $12.50 and a low of $3.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Liberty Oilfield Services Inc. stock is 2.40 for the next 12 months. The average price target is -22.21% below its last price level and a downside to the estimated low will see the stock lose -191.67% over that period. But an upside of 30.0% will see the stock hit the forecast high price target while mean target price for the stock is $7.00.
Insiders at the company have transacted a total of 19 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 9 of these insider trades were purchases, accounting for 441,846 shares. Insider sales of the common stock occurred on 10 occasions, with total insider shares sold totaling 147,176 shares.
The top 3 mutual fund holders in Liberty Oilfield Services Inc. are T Rowe Price Small Cap Stock Fund, T Rowe Price Small Cap Value Fund, and Vanguard Total Stock Market Index. T Rowe Price Small Cap Stock Fund owns 3.29 million shares of the company’s stock, all valued at over $18.57 million. The company sold 12700.0 shares recently to bring their total holdings to about 3.99% of the shares outstanding. T Rowe Price Small Cap Value Fund sold 16500.0 shares to see its total holdings shrink to 3.01 million shares valued at over $16.98 million and representing 3.65% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 2.29% of the shares outstanding.
Shares of Liberty Oilfield Services Inc. (NYSE: LBRT) opened at $7.31, up $0.86 from a prior closing price of $6.45. However, the script later closed the day at $8.75, up 35.66%. The company’s stock has a 5-day price change of 33.59% and 52.17% over the past three months. LBRT shares are trading -21.31% year to date (YTD), with the 12-month market performance down to -19.28% lower. It has a 12-month low price of $2.17 and touched a high of $12.42 over the same period. Currently, 3.9 million shares have been traded, compared to an average intraday trading volume of 589.77K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 28.82%, 39.92%, and 33.57% respectively.
Institutional ownership of Liberty Oilfield Services Inc. (NYSE: LBRT) shares accounts for 79.90% of the company’s 83.29M shares outstanding. Mutual fund holders own 38.11%, while other institutional holders and individual stakeholders account for 59.92% and 27.59% respectively.
It has a market capitalization of $963.55M. The earnings-per-share (ttm) stands at -$0.59. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.15% over the week and 5.65% over the month.
Analysts forecast that Liberty Oilfield Services Inc. (LBRT) will achieve an EPS of -$0.44 for the current quarter, -$0.35 for the next quarter and -$0.82 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.59 while analysts give the company a high EPS estimate of -$0.3. Comparatively, EPS for the current quarter was $0.15 a year ago. Earnings per share for the fiscal year are expected to decrease by -79.50%, and 23.40% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate Liberty Oilfield Services Inc. (LBRT) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 8 of the 16 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the LBRT, a number of firms have released research notes about the stock. BofA/Merrill stated their Buy rating for the stock in a research note on May 28, 2020, with the firm’s price target at. JP Morgan coverage for the Liberty Oilfield Services Inc. (LBRT) stock in a research note released on March 25, 2020 offered a Neutral rating with a price target of $5. Wolfe Research was of a view on March 19, 2020 that the stock is Peer Perform, while Barclays gave the stock Equal Weight rating on March 19, 2020, issuing a price target of. Piper Sandler on their part issued Neutral rating on March 13, 2020.