Liberty Energy (NYSE:LBRT) Stock Rating Lowered by Citigroup

Liberty Energy (NYSE:LBRT) was downgraded by stock analysts at Citigroup from a “buy” rating to a “neutral” rating in a research note issued on Friday, MarketBeat.com reports. They presently have a $19.00 price objective on the stock, down from their previous price objective of $25.00. Citigroup’s price target would indicate a potential upside of 7.34% from the stock’s previous close.

Several other research firms have also weighed in on LBRT. Stifel Nicolaus dropped their price target on Liberty Energy from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. TD Cowen dropped their price target on Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday, July 19th. Barclays dropped their price target on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Wednesday. Piper Sandler dropped their price target on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Finally, Bank of America dropped their price target on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.70.

Liberty Energy Trading Down 3.3 %

NYSE:LBRT opened at $17.70 on Friday. Liberty Energy has a 1 year low of $16.69 and a 1 year high of $24.75. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 6.46, a PEG ratio of 1.20 and a beta of 1.68. The business has a fifty day moving average of $20.03 and a 200-day moving average of $21.31. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.10). The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 EPS. Equities analysts predict that Liberty Energy will post 2.14 earnings per share for the current year.

Insider Activity

In related news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction dated 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 of the company’s stock, valued at approximately $53,335,166.83. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Liberty Energy news, 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 transaction of $288,450.00. Following the transaction, the chief financial officer now owns 730,207 shares of the company’s stock, valued at $14,041,880.61. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the chief executive officer now directly owns 2,678,813 shares in the company, valued at approximately $53,335,166.83. This trade represents 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 over the last three months. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Liberty Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Foundry Partners LLC grew its position in shares of Liberty Energy by 15.6% in the first quarter. Foundry Partners LLC now owns 209,056 shares of the company’s stock valued at $4,332,000 after purchasing an additional 28,153 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Liberty Energy by 114.2% in the first quarter. Russell Investments Group Ltd. now owns 174,265 shares of the company’s stock valued at $3,611,000 after buying an additional 92,923 shares during the period. Hennessy Advisors Inc. boosted its stake in shares of Liberty Energy by 14.1% in the first quarter. Hennessy Advisors Inc. now owns 1,338,400 shares of the company’s stock valued at $27,732,000 after buying an additional 165,400 shares during the period. LSV Asset Management boosted its stake in shares of Liberty Energy by 60.2% in the first quarter. LSV Asset Management now owns 1,437,041 shares of the company’s stock valued at $29,775,000 after buying an additional 539,861 shares during the period. Finally, Edgestream Partners L.P. bought a new stake in shares of Liberty Energy in the first quarter valued at approximately $690,000. 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.