Morgan Stanley analyst Connor Lynagh maintained a Buy rating on Liberty Oilfield Services (LBRT) today and set a price target of $6.50. The company’s shares closed last Wednesday at $5.36.
According to TipRanks.com, Lynagh has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -19.7% and a 36.1% success rate. Lynagh covers the Services sector, focusing on stocks such as Independence Contract Drilling, Nextier Oilfield Solutions, and Oil States International.
Currently, the analyst consensus on Liberty Oilfield Services is a Moderate Buy with an average price target of $6.32, representing a 13.3% upside. In a report issued on July 6, B.Riley FBR also maintained a Buy rating on the stock with a $7.00 price target.
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Based on Liberty Oilfield Services’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $472 million and net profit of $1.72 million. In comparison, last year the company earned revenue of $535 million and had a net profit of $18.12 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. The company was founded on December 21, 2016 and is headquartered in Denver, CO.
