Shares of Liberty Oilfield Services fell as much as 7% on Feb. 9 after the U.S. hydraulic fracturing company reported a fourth-quarter loss that was deeper than Wall Street had expected.

Liberty reported a net loss of $57 million, or 31 cents per share, for the quarter, versus a loss of $48 million a year ago. Analysts had expected a per share loss of 16 cents, according to data from Refinitiv IBES.

Earnings were hit by some $20 million in costs from Liberty's acquisition of Schlumberger's U.S. fracking assets last year.

"Integration-related costs are still with us today, impacting our bottom-line results," said Chief Executive Officer Chris Wright, adding that January was a "turning point" in moving beyond the cost pressures.

Margins are expected to grow this year, as the company benefits from price increases amid a tight frack market and integration costs fade, executives said on Wednesday.

Still, Wall Street analysts expressed disappointment at the size of the integration and frack startup costs during the quarter. Earnings projections for the Denver-based company "are likely to be headed in the wrong direction," wrote analysts at Tudor, Pickering, Holt & Co.

Liberty shares were down 4.4% to $11.25 in afternoon trading. U.S. crude futures were roughly flat at $89.6 a barrel.

Liberty estimates that the number of active U.S. hydraulic fracturing fleets will expand by roughly 10% this year, from a number currently in the low 200s.

"That leads to production growth at that level," Wright said of the current number of fleets operating.