Liberty Energy (NYSE:LBRT – Get Free Report) had its target price cut by investment analysts at TD Cowen from $21.00 to $20.00 in a report issued on Friday, Briefing.com reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price objective would indicate a potential downside of 11.11% from the company’s current price.
A number of other brokerages have also commented on LBRT. Citigroup raised Liberty Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $24.00 to $32.00 in a research note on Wednesday, May 29th. Piper Sandler cut their price target on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday. Bank of America cut their price target on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday. Barclays lifted their price target on Liberty Energy from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, Royal Bank of Canada lifted their price target on Liberty Energy from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.89.
Check Out Our Latest Stock Analysis on LBRT
Liberty Energy Stock Performance
NYSE:LBRT opened at $22.50 on Friday. The stock’s 50-day simple moving average is $21.97 and its 200 day simple moving average is $21.01. The firm has a market capitalization of $3.75 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 1.27 and a beta of 1.74. The company has a quick ratio of 1.16, a current ratio of 1.48 and a debt-to-equity ratio of 0.17. Liberty Energy has a twelve month low of $14.75 and a twelve month high of $24.75.
Liberty Energy (NYSE:LBRT – Get Free Report) last released its quarterly earnings data on Wednesday, July 17th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. Liberty Energy had a return on equity of 23.16% and a net margin of 9.53%. Liberty Energy’s revenue was down 2.9% compared to the same quarter last year. During the same period last year, the firm posted $0.87 earnings per share. On average, analysts anticipate that Liberty Energy will post 2.24 EPS for the current fiscal year.
Insider Transactions at Liberty Energy
In other Liberty Energy news, CAO Ryan T. Gosney sold 2,000 shares of Liberty Energy stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $23.50, for a total value of $47,000.00. Following the completion of the sale, the chief accounting officer now directly owns 170,882 shares in the company, valued at $4,015,727. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Ryan T. Gosney sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $24.00, for a total transaction of $96,000.00. Following the completion of the sale, the chief accounting officer now owns 166,882 shares in the company, valued at $4,005,168. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Ryan T. Gosney sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $23.50, for a total value of $47,000.00. Following the sale, the chief accounting officer now owns 170,882 shares of the company’s stock, valued at approximately $4,015,727. The disclosure for this sale can be found here. Insiders sold 176,000 shares of company stock worth $3,932,731 over the last ninety days. 3.60% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Liberty Energy by 4.5% during the third quarter. Vanguard Group Inc. now owns 20,546,529 shares of the company’s stock valued at $380,522,000 after buying an additional 893,563 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Liberty Energy by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,443,849 shares of the company’s stock worth $171,314,000 after purchasing an additional 404,211 shares during the last quarter. Pacer Advisors Inc. boosted its position in Liberty Energy by 93.9% in the fourth quarter. Pacer Advisors Inc. now owns 4,587,073 shares of the company’s stock worth $83,210,000 after purchasing an additional 2,221,588 shares during the last quarter. LSV Asset Management boosted its position in Liberty Energy by 60.2% in the first quarter. LSV Asset Management now owns 1,437,041 shares of the company’s stock worth $29,775,000 after purchasing an additional 539,861 shares during the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in Liberty Energy in the first quarter worth $27,809,000. Hedge funds and other institutional investors 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.
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