Liberty Energy (NYSE:LBRT) PT Lowered to $24.00

Liberty Energy (NYSE:LBRT) had its price target dropped by equities researchers at Wells Fargo & Company from $25.00 to $24.00 in a report released on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 35.59% from the company’s previous close.

Several other research analysts have also commented on the stock. Royal Bank of Canada decreased their price target on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Friday. Bank of America dropped their price target 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. 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 note on Monday, July 15th. Barclays dropped their target price on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, TD Cowen cut their target price on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Friday, July 19th. Six analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Liberty Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.70.

Liberty Energy Stock Performance

Shares of LBRT stock opened at $17.70 on Friday. The company’s fifty day simple moving average is $20.03 and its 200-day simple moving average is $21.31. Liberty Energy has a 52 week low of $16.69 and a 52 week high of $24.75. The company has a current ratio of 1.35, a quick ratio of 1.07 and a debt-to-equity ratio of 0.17. The company has a market cap of $2.95 billion, a PE ratio of 6.46, a P/E/G ratio of 1.20 and a beta of 1.68.

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

Insider Activity at Liberty Energy

In related news, CFO Michael Stock sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $22.92, for a total value of $458,400.00. Following the completion of the transaction, the chief financial officer now directly owns 765,207 shares of the company’s stock, valued at approximately $17,538,544.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 95,000 shares of company stock valued at $1,945,650. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Liberty Energy

Several hedge funds have recently added to or reduced their stakes in the business. Well Done LLC lifted its holdings in shares of Liberty Energy by 14.3% during the third quarter. Well Done LLC now owns 16,028 shares of the company’s stock worth $306,000 after buying an additional 2,003 shares in the last quarter. AlphaMark Advisors LLC bought a new position in Liberty Energy in the third quarter valued at about $293,000. nVerses Capital LLC grew its holdings in shares of Liberty Energy by 279.3% during the third quarter. nVerses Capital LLC now owns 11,000 shares of the company’s stock worth $210,000 after purchasing an additional 8,100 shares during the last quarter. Creative Planning grew its holdings in shares of Liberty Energy by 3.7% during the third quarter. Creative Planning now owns 19,456 shares of the company’s stock worth $371,000 after purchasing an additional 703 shares during the last quarter. Finally, Wesbanco Bank Inc. bought a new stake in shares of Liberty Energy during the third quarter worth about $1,071,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

About Liberty Energy

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.