Sei Investments Co. Cuts Holdings in Liberty Oilfield Services Inc. (NYSE:LBRT)

Sei Investments Co. decreased its stake in shares of Liberty Oilfield Services Inc. (NYSE:LBRT) by 29.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 36,118 shares of the company’s stock after selling 14,763 shares during the period. Sei Investments Co.’s holdings in Liberty Oilfield Services were worth $511,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LBRT. Van ECK Associates Corp increased its holdings in shares of Liberty Oilfield Services by 63.0% in the 1st quarter. Van ECK Associates Corp now owns 6,604,591 shares of the company’s stock valued at $74,566,000 after acquiring an additional 2,552,090 shares during the last quarter. Caas Capital Management LP purchased a new position in shares of Liberty Oilfield Services in the 1st quarter valued at about $20,015,000. Towle & Co. purchased a new position in shares of Liberty Oilfield Services in the 1st quarter valued at about $19,554,000. BlackRock Inc. increased its holdings in shares of Liberty Oilfield Services by 28.0% in the 1st quarter. BlackRock Inc. now owns 6,908,979 shares of the company’s stock valued at $78,003,000 after acquiring an additional 1,513,208 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Liberty Oilfield Services in the 1st quarter valued at about $5,385,000. Institutional investors and hedge funds own 52.76% of the company’s stock.

Liberty Oilfield Services stock opened at $11.50 on Friday. Liberty Oilfield Services Inc. has a twelve month low of $6.20 and a twelve month high of $17.78. The stock has a 50 day moving average of $10.44 and a two-hundred day moving average of $12.24. The company has a current ratio of 1.36, a quick ratio of 1.12 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of -8.71 and a beta of 3.09.

Liberty Oilfield Services (NYSE:LBRT) last posted its quarterly earnings results on Tuesday, July 27th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.17). The business had revenue of $581.29 million during the quarter, compared to analyst estimates of $595.42 million. Liberty Oilfield Services had a negative net margin of 10.16% and a negative return on equity of 13.12%. Equities analysts predict that Liberty Oilfield Services Inc. will post -0.69 earnings per share for the current year.

LBRT has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price objective on Liberty Oilfield Services from $17.00 to $15.50 and set an “overweight” rating on the stock in a report on Tuesday, August 3rd. Seaport Res Ptn reissued a “neutral” rating on shares of Liberty Oilfield Services in a research report on Thursday, July 15th. Royal Bank of Canada assumed coverage on Liberty Oilfield Services in a research report on Wednesday, September 8th. They issued a “sector perform” rating and a $13.00 target price for the company. Barclays decreased their target price on Liberty Oilfield Services from $17.00 to $15.00 and set an “overweight” rating for the company in a research report on Monday, August 9th. Finally, Citigroup raised Liberty Oilfield Services from a “neutral” rating to a “buy” rating in a research report on Monday, September 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $12.99.

In other news, CFO Michael Stock sold 43,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 1st. The stock was sold at an average price of $14.78, for a total value of $635,540.00. Following the completion of the sale, the chief financial officer now directly owns 1,206,727 shares of the company’s stock, valued at approximately $17,835,425.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher A. Wright sold 7,120 shares of the firm’s stock in a transaction that occurred on Wednesday, July 21st. The shares were sold at an average price of $12.08, for a total value of $86,009.60. The disclosure for this sale can be found here. Insiders sold a total of 136,120 shares of company stock valued at $1,596,600 over the last three months. Insiders own 4.20% of the company’s stock.

About Liberty Oilfield Services

Liberty Oilfield Services, Inc engages in the provision of hydraulic fracturing services to onshore oil and natural gas exploration and production companies in North America. Its hydraulic fracturing fleets consist of mobile hydraulic fracturing units and other auxiliary heavy equipment to perform fracturing services.

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Institutional Ownership by Quarter for Liberty Oilfield Services (NYSE:LBRT)

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