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

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

Several other analysts have also weighed in on LBRT. TD Cowen lowered 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. Bank of America lowered their target price on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Barclays lowered their target price on shares of Liberty Energy from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Tuesday, July 23rd. Finally, Piper Sandler lowered their target price on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Liberty Energy Stock Up 2.3 %

Shares of NYSE LBRT traded up $0.46 during trading on Thursday, reaching $20.25. 703,828 shares of the stock were exchanged, compared to its average volume of 2,493,892. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 7.39, a price-to-earnings-growth ratio of 1.24 and a beta of 1.68. The business’s 50-day moving average price is $20.47 and its 200 day moving average price is $21.38. The company has a quick ratio of 1.07, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. Liberty Energy has a twelve month low of $16.33 and a twelve month high of $24.75.

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

Insider Transactions at Liberty Energy

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

Institutional Investors Weigh In On Liberty Energy

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

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.