Liberty Energy (NYSE:LBRT – Free Report) had its target price dropped by Wells Fargo & Company from $24.00 to $21.00 in a research note issued to investors on Friday, The Fly reports. Wells Fargo & Company‘s price target suggests a potential upside of 59.57% from the stock’s current price.
Other analysts have also issued reports about the stock. Citigroup lowered their price objective on shares of Liberty Energy from $15.00 to $14.00 in a report on Wednesday, June 21st. Royal Bank of Canada lowered their price objective on shares of Liberty Energy from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, April 21st. Barclays decreased their price objective on Liberty Energy from $25.00 to $22.00 in a report on Thursday, June 8th. Morgan Stanley downgraded Liberty Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $20.00 to $17.00 in a report on Tuesday, April 18th. Finally, Bank of America downgraded Liberty Energy from a “buy” rating to a “neutral” rating in a report on Tuesday, April 18th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Liberty Energy presently has an average rating of “Moderate Buy” and a consensus target price of $19.75.
Liberty Energy Stock Up 0.5 %
Shares of NYSE LBRT opened at $13.16 on Friday. Liberty Energy has a 12 month low of $10.71 and a 12 month high of $18.35. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 4.31, a PEG ratio of 0.64 and a beta of 2.10. The business has a 50-day moving average of $12.85 and a 200-day moving average of $14.09.
Liberty Energy (NYSE:LBRT – Free Report) last announced its quarterly earnings data on Wednesday, April 19th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. Liberty Energy had a return on equity of 38.98% and a net margin of 12.29%. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the firm posted ($0.03) EPS. Liberty Energy’s revenue for the quarter was up 59.2% compared to the same quarter last year. Sell-side analysts expect that Liberty Energy will post 3.5 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Prelude Capital Management LLC purchased a new position in shares of Liberty Energy during the 1st quarter valued at approximately $623,000. Brandywine Global Investment Management LLC acquired a new position in shares of Liberty Energy during the 1st quarter worth about $6,005,000. Ameriprise Financial Inc. raised its position in shares of Liberty Energy by 21.5% during the 1st quarter. Ameriprise Financial Inc. now owns 98,390 shares of the company’s stock worth $1,260,000 after purchasing an additional 17,429 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Liberty Energy by 132.4% in the 1st quarter. JPMorgan Chase & Co. now owns 1,316,307 shares of the company’s stock valued at $16,862,000 after purchasing an additional 749,817 shares during the last quarter. Finally, Impala Asset Management LLC purchased a new position in shares of Liberty Energy in the first quarter worth about $2,242,000. Hedge funds and other institutional investors own 88.50% of the company’s stock.
Liberty Energy Company Profile
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.
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