Liberty Energy (NYSE:LBRT) PT Lowered to $25.00

Liberty Energy (NYSE:LBRT) had its price target decreased by investment analysts at Citigroup from $28.00 to $25.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 23.46% from the stock’s previous close.

LBRT has been the topic of a number of other research reports. Bank of America dropped their price objective on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Piper Sandler dropped their price objective on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Barclays dropped their price objective on Liberty Energy from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Finally, TD Cowen dropped their price objective on Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Friday, July 19th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Liberty Energy Stock Up 2.3 %

Shares of LBRT traded up $0.46 during trading hours on Thursday, reaching $20.25. The company’s stock had a trading volume of 703,828 shares, compared to its average volume of 2,493,892. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 7.39, a P/E/G ratio of 1.24 and a beta of 1.68. Liberty Energy has a 1-year low of $16.33 and a 1-year high of $24.75. The company has a quick ratio of 1.07, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average of $20.47 and a two-hundred day moving average of $21.38.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 EPS. As a group, research analysts predict that Liberty Energy will post 2.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michael Stock sold 15,000 shares of Liberty Energy stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $19.23, for a total transaction of $288,450.00. Following the transaction, the chief financial officer now owns 730,207 shares in the company, valued at approximately $14,041,880.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $19.91, for a total value of $398,200.00. Following the sale, the chief executive officer now owns 2,678,813 shares in the company, valued at approximately $53,335,166.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Stock sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $19.23, for a total value of $288,450.00. Following the transaction, the chief financial officer now directly owns 730,207 shares in the company, valued at approximately $14,041,880.61. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,374 shares of company stock worth $1,642,148. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. TD Asset Management Inc boosted its stake in Liberty Energy by 68.8% in the 4th quarter. TD Asset Management Inc now owns 271,788 shares of the company’s stock valued at $4,930,000 after purchasing an additional 110,800 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in Liberty Energy in the 4th quarter valued at $63,000. PNC Financial Services Group Inc. boosted its stake in Liberty Energy by 27.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after purchasing an additional 709 shares during the period. Hennessy Advisors Inc. boosted its stake in Liberty Energy by 14.1% in the 1st quarter. Hennessy Advisors Inc. now owns 1,338,400 shares of the company’s stock valued at $27,732,000 after purchasing an additional 165,400 shares during the period. Finally, Diversified Trust Co boosted its stake in Liberty Energy by 2.5% in the 1st quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock valued at $427,000 after purchasing an additional 507 shares during the period. 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.