Barclays Lowers Liberty Energy (NYSE:LBRT) Price Target to $24.00

Liberty Energy (NYSE:LBRT) had its target price decreased by equities researchers at Barclays from $26.00 to $24.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 31.15% from the company’s current price.

Several other equities analysts have also recently weighed in on LBRT. Bank of America lowered their price objective on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Citigroup lowered their price objective on shares of Liberty Energy from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Piper Sandler lowered their price objective on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Stifel Nicolaus lowered their price objective on shares of Liberty Energy from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Finally, TD Cowen lowered their price objective on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday, July 19th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Liberty Energy has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Liberty Energy Trading Down 8.9 %

Shares of NYSE:LBRT opened at $18.30 on Wednesday. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 6.68, a PEG ratio of 1.20 and a beta of 1.68. Liberty Energy has a 1-year low of $16.69 and a 1-year high of $24.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35. The company has a 50 day moving average price of $20.12 and a 200 day moving average price of $21.36.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The company’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 earnings per share. On average, research analysts anticipate that Liberty Energy will post 2.14 EPS for the current fiscal year.

Insider Activity

In related news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $19.77, for a total value of $395,400.00. Following the completion of the sale, the chief executive officer now owns 2,638,813 shares of the company’s stock, valued at approximately $52,169,333.01. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Michael Stock sold 15,000 shares of Liberty Energy stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $20.01, for a total value of $300,150.00. Following the completion of the sale, the chief financial officer now owns 750,207 shares of the company’s stock, valued at approximately $15,011,642.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $19.77, for a total transaction of $395,400.00. Following the completion of the sale, the chief executive officer now directly owns 2,638,813 shares of the company’s stock, valued at approximately $52,169,333.01. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,000 shares of company stock worth $1,945,650 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Liberty Energy

Institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. lifted its position in Liberty Energy by 17.6% during the 2nd quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock worth $82,754,000 after acquiring an additional 594,051 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Liberty Energy by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,634,256 shares of the company’s stock worth $55,030,000 after acquiring an additional 67,362 shares during the last quarter. Hennessy Advisors Inc. lifted its position in Liberty Energy by 48.0% during the 2nd quarter. Hennessy Advisors Inc. now owns 1,981,100 shares of the company’s stock worth $41,385,000 after acquiring an additional 642,700 shares during the last quarter. LSV Asset Management lifted its position in Liberty Energy by 19.5% during the 2nd quarter. LSV Asset Management now owns 1,717,591 shares of the company’s stock worth $35,880,000 after acquiring an additional 280,550 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Liberty Energy by 34.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,498,921 shares of the company’s stock worth $31,312,000 after acquiring an additional 381,841 shares during the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

Liberty Energy Company Profile

Liberty Energy Inc provides hydraulic services and related technologies to onshore oil and natural gas exploration, and production companies in North America. The company offers hydraulic fracturing services, including complementary services, such as wireline services, proppant delivery solutions, field gas processing and treating, compressed natural gas (CNG) delivery, data analytics, related goods comprising sand mine operations, and technologies; and well site fueling and logistics.