Liberty Energy (NYSE:LBRT – Get Rating) had its price target lifted by Citigroup from $22.00 to $24.00 in a report issued on Wednesday, The Fly reports. They currently have a buy rating on the stock.
A number of other analysts also recently commented on the company. Wells Fargo & Company boosted their price objective on Liberty Energy from $15.00 to $19.00 and gave the stock an equal weight rating in a research note on Friday, April 22nd. Piper Sandler boosted their price objective on Liberty Energy from $19.50 to $22.00 and gave the stock a neutral rating in a research note on Wednesday, June 1st. Barclays boosted their price objective on Liberty Energy from $15.00 to $19.00 in a research note on Wednesday, April 27th. Morgan Stanley boosted their price objective on Liberty Energy from $20.00 to $23.00 and gave the stock an overweight rating in a research note on Monday, April 25th. Finally, Bank of America raised Liberty Energy from a neutral rating to a buy rating in a research note on Friday, March 11th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $19.40.
Shares of LBRT stock opened at $11.22 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.00 and a current ratio of 1.22. Liberty Energy has a 1 year low of $8.50 and a 1 year high of $20.05. The stock has a fifty day moving average of $15.14 and a two-hundred day moving average of $13.88. The firm has a market capitalization of $2.10 billion, a PE ratio of -13.20 and a beta of 2.37.
Liberty Energy (NYSE:LBRT – Get Rating) last announced its quarterly earnings results on Wednesday, April 20th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.13. Liberty Energy had a negative return on equity of 12.17% and a negative net margin of 5.55%. The company had revenue of $792.77 million during the quarter, compared to analyst estimates of $739.42 million. During the same quarter in the previous year, the firm posted ($0.21) EPS. The firm’s quarterly revenue was up 43.6% on a year-over-year basis. Equities research analysts predict that Liberty Energy will post 0.62 earnings per share for the current fiscal year.
In other Liberty Energy news, CEO Christopher A. Wright sold 25,000 shares of the business’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $18.25, for a total value of $456,250.00. Following the transaction, the chief executive officer now owns 3,455,015 shares in the company, valued at $63,054,023.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Limited/Nv Schlumberger sold 14,500,000 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $15.50, for a total value of $224,750,000.00. Following the completion of the transaction, the insider now owns 35,101,961 shares in the company, valued at approximately $544,080,395.50. The disclosure for this sale can be found here. Insiders have sold 26,571,000 shares of company stock worth $430,001,180 in the last quarter. 3.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Liberty Energy during the 4th quarter worth about $17,064,000. Bank of New York Mellon Corp boosted its stake in shares of Liberty Energy by 129.4% during the 1st quarter. Bank of New York Mellon Corp now owns 2,089,808 shares of the company’s stock worth $30,971,000 after acquiring an additional 1,178,716 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Liberty Energy by 12.1% during the 1st quarter. Van ECK Associates Corp now owns 9,474,369 shares of the company’s stock worth $140,410,000 after acquiring an additional 1,025,776 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Liberty Energy during the 4th quarter worth about $6,518,000. Finally, Thornburg Investment Management Inc. bought a new stake in shares of Liberty Energy during the 1st quarter worth about $9,032,000. Hedge funds and other institutional investors own 88.18% of the company’s stock.
Liberty Energy Company Profile (Get Rating)
Liberty Energy Inc provides hydraulic fracturing and wireline services, and related goods to onshore oil and natural gas exploration and production companies in North America. It also offers hydraulic fracturing pressure pumping services, including pressure pumping and pumpdown perforating services, as well wireline services, proppant delivery solutions, data analytics, related goods and technologies.
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