Why Liberty Oilfield Services Stock Is Skyrocketing Today
Shares of Liberty Oilfield Services (NYSE: LBRT) jumped as much as 14.9% on Thursday morning. Fueling the oil field service company's stock price was its strong first-quarter results.
Liberty Oilfield Services generated $793 million of revenue in the first quarter, up 16% from last quarter. That's its highest revenue since going public four years ago. The oilfield service company is benefiting from a boom in demand for fracking equipment and services fueled by higher oil prices. The company also benefited from last year's acquisitions of OneStim and PropX, which expanded its services and helped reduce the impact of supply chain constraints.
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Source Fool.com
