Liberty Energy (NYSE:LBRT – Get Free Report) had its price objective decreased by equities researchers at Wells Fargo & Company from $25.00 to $24.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 29.52% from the stock’s previous close.
A number of other brokerages have also commented on LBRT. Piper Sandler upped their price target on shares of Liberty Energy from $21.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, October 20th. The Goldman Sachs Group increased their target price on shares of Liberty Energy from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. Atb Cap Markets upgraded shares of Liberty Energy from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, September 26th. Morgan Stanley increased their target price on shares of Liberty Energy from $20.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Monday, October 23rd. Finally, Citigroup decreased their target price on shares of Liberty Energy from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, December 14th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Liberty Energy presently has an average rating of “Moderate Buy” and an average target price of $23.38.
Read Our Latest Analysis on LBRT
Liberty Energy Stock Down 0.4 %
Shares of LBRT stock opened at $18.53 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.08 and a current ratio of 1.34. The firm’s 50-day moving average is $19.32 and its 200-day moving average is $17.08. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 5.39, a PEG ratio of 0.69 and a beta of 1.96. Liberty Energy has a 52-week low of $11.18 and a 52-week high of $21.25.
Liberty Energy (NYSE:LBRT – Get Free Report) last announced its quarterly earnings results on Thursday, October 19th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.10. Liberty Energy had a net margin of 12.59% and a return on equity of 37.67%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the business earned $0.78 EPS. Liberty Energy’s quarterly revenue was up 2.3% on a year-over-year basis. Sell-side analysts predict that Liberty Energy will post 3.21 EPS for the current year.
Insider Buying and Selling
In related news, President Ron Gusek sold 50,000 shares of the stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $20.49, for a total transaction of $1,024,500.00. Following the sale, the president now owns 1,201,644 shares in the company, valued at approximately $24,621,685.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, President Ron Gusek sold 50,000 shares of the stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $20.49, for a total value of $1,024,500.00. Following the completion of the transaction, the president now owns 1,201,644 shares of the company’s stock, valued at approximately $24,621,685.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Christopher A. Wright sold 12,856 shares of the stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $16.63, for a total transaction of $213,795.28. Following the completion of the transaction, the chief executive officer now directly owns 3,004,275 shares of the company’s stock, valued at approximately $49,961,093.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 174,193 shares of company stock worth $3,399,165. Corporate insiders own 3.60% of the company’s stock.
Hedge Funds Weigh In On Liberty Energy
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. bought a new position in Liberty Energy in the 2nd quarter valued at approximately $26,000. CWM LLC lifted its stake in Liberty Energy by 172.0% in the 2nd quarter. CWM LLC now owns 1,983 shares of the company’s stock valued at $27,000 after purchasing an additional 1,254 shares during the last quarter. US Bancorp DE lifted its stake in Liberty Energy by 67.0% in the 1st quarter. US Bancorp DE now owns 2,300 shares of the company’s stock valued at $29,000 after purchasing an additional 923 shares during the last quarter. Quarry LP lifted its stake in Liberty Energy by 111.0% in the 2nd quarter. Quarry LP now owns 3,965 shares of the company’s stock valued at $53,000 after purchasing an additional 2,086 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Liberty Energy by 8,240.8% during the second quarter. Farther Finance Advisors LLC now owns 4,087 shares of the company’s stock valued at $55,000 after acquiring an additional 4,038 shares during the last quarter. Institutional investors own 91.34% 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, data analytics, related goods, and technologies; and other services comprising design and pump diagnostic fracture injection test, DFIT and mini-frac analysis, and laboratory services, such as fluid rheology, surfactant, clay control, scaling and biocide testing.
Featured Stories
NYSE: LBRT‘ width=’600′ height=’385’ />
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Liberty Energy, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Liberty Energy wasn’t on the list.
While Liberty Energy currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Which stocks are likely to thrive in today’s challenging market? Click the link below and we’ll send you MarketBeat’s list of ten stocks that will drive in any economic environment.
Source: marketbeat.com
