B.Riley FBR analyst Tom Curran maintained a Buy rating on Liberty Oilfield Services Inc (LBRT) yesterday and set a price target of $20. The company’s shares closed yesterday at $13.95, close to its 52-week low of $12.32.
Curran noted:
“After the close on Services (LBRT) reported revenue, adj. EBITDA, and adj. EPS of $542.1M, $92.1, and $0.32, topping our estimates of $540.2M, $83.2M, and $0.30, and the and $0.28. Management attributed the strong results to the performance of its operations and supply chain teams, and close coordination with LBRT’s customers regarding scheduling. The quarter reinforces our view that LBRT’s innovative technology suite, robust balance sheet, and close customer relationships distinguish the company from its peers. We maintain our Buy rating and $20 price target on our favorite pressure pumper. *Close price on 7/30/19.”
According to TipRanks.com, Curran has currently no stars on a ranking scale of 0-5 stars, with an average return of -9.9% and a 37.7% success rate. Curran covers the Basic Materials sector, focusing on stocks such as Solaris Oilfield Infrastructure Inc, Independence Contract Drilling, and Select Energy Services Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Liberty Oilfield Services Inc with a $20 average price target.
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Based on Liberty Oilfield Services Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $22.03 million. In comparison, last year the company had a net profit of $49.6 million.
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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.
