TD Cowen Issues Pessimistic Forecast for Liberty Energy (NYSE:LBRT) Stock Price

Liberty Energy (NYSE:LBRT) had its price objective decreased by TD Cowen from $18.00 to $16.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s target price indicates a potential downside of 25.02% from the company’s current price.

LBRT has been the subject of a number of other research reports. Atb Cap Markets upgraded Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Evercore ISI raised Liberty Energy to a “strong-buy” rating in a report on Thursday, October 17th. Wells Fargo & Company dropped their target price on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Royal Bank of Canada reduced their price target on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Finally, Barclays dropped their price objective on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.20.

Liberty Energy Trading Down 1.2 %

Shares of NYSE LBRT opened at $21.34 on Wednesday. Liberty Energy has a 1-year low of $16.57 and a 1-year high of $24.75. The business has a fifty day moving average price of $18.56 and a 200 day moving average price of $19.66. The stock has a market capitalization of $3.49 billion, a P/E ratio of 10.16 and a beta of 1.66. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.97.

Liberty Energy (NYSE:LBRT) last posted 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). Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the company earned $0.85 EPS. The company’s revenue was down 6.4% on a year-over-year basis. Equities research analysts expect that Liberty Energy will post 1.72 EPS for the current fiscal year.

Insider Activity at Liberty Energy

In related news, CEO Christopher A. Wright sold 2,037 shares of Liberty Energy stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $18.15, for a total value of $36,971.55. Following the completion of the transaction, the chief executive officer now directly owns 2,578,813 shares in the company, valued at approximately $46,805,455.95. This trade represents a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael Stock sold 5,000 shares of Liberty Energy stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $17.21, for a total value of $86,050.00. Following the completion of the transaction, the chief financial officer now owns 725,207 shares of the company’s stock, valued at $12,480,812.47. The trade was a 0.68 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,973 shares of company stock worth $1,471,335. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. FMR LLC boosted its stake in Liberty Energy by 17.1% in the third quarter. FMR LLC now owns 18,115,282 shares of the company’s stock valued at $345,821,000 after acquiring an additional 2,640,119 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Liberty Energy by 15.9% in the 3rd quarter. Pacer Advisors Inc. now owns 7,012,382 shares of the company’s stock valued at $133,866,000 after purchasing an additional 963,068 shares during the period. State Street Corp grew its stake in Liberty Energy by 2.7% during the 3rd quarter. State Street Corp now owns 6,662,830 shares of the company’s stock worth $127,193,000 after buying an additional 176,887 shares during the last quarter. Canoe Financial LP increased its position in Liberty Energy by 20.4% during the third quarter. Canoe Financial LP now owns 4,124,695 shares of the company’s stock worth $79,408,000 after buying an additional 699,500 shares during the period. Finally, American Century Companies Inc. increased its position in Liberty Energy by 17.6% during the second quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock worth $82,754,000 after buying an additional 594,051 shares during the period. Hedge funds and other institutional investors 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.