Liberty Energy (NYSE:LBRT) PT Lowered to $22.00

Liberty Energy (NYSE:LBRT) had its target price reduced by Bank of America from $24.00 to $22.00 in a research note issued to investors on Monday morning, Benzinga reports. Bank of America currently has a neutral rating on the stock.

Several other equities research analysts have also issued reports on LBRT. Citigroup upgraded shares of Liberty Energy from a neutral rating to a buy rating and lifted their target price for the company from $24.00 to $32.00 in a research report on Wednesday, May 29th. Barclays lifted their target price on shares of Liberty Energy from $25.00 to $27.00 and gave the company an overweight rating in a research report on Friday, April 19th. TD Cowen lifted their target price on shares of Liberty Energy from $19.00 to $21.00 and gave the company a hold rating in a research report on Friday, April 19th. Royal Bank of Canada lifted their target price on shares of Liberty Energy from $25.00 to $27.00 and gave the company an outperform rating in a research report on Friday, April 19th. Finally, Morgan Stanley reiterated an equal weight rating and set a $24.00 target price on shares of Liberty Energy in a research report on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $25.00.

Liberty Energy Price Performance

LBRT opened at $22.14 on Monday. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 8.08, a PEG ratio of 1.17 and a beta of 1.74. The company has a quick ratio of 1.16, a current ratio of 1.48 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average price of $21.97 and a 200-day moving average price of $21.00. Liberty Energy has a twelve month low of $14.75 and a twelve month high of $24.75.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings data on Thursday, April 18th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.06). The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Liberty Energy had a net margin of 10.43% and a return on equity of 26.46%. Liberty Energy’s revenue was down 12.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 EPS. Equities analysts expect that Liberty Energy will post 2.37 EPS for the current year.

Insider Transactions at Liberty Energy

In other news, CAO Ryan T. Gosney sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $23.50, for a total value of $47,000.00. Following the completion of the sale, the chief accounting officer now directly owns 170,882 shares in the company, valued at approximately $4,015,727. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, President Ron Gusek sold 50,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $22.99, for a total transaction of $1,149,500.00. Following the completion of the sale, the president now directly owns 1,213,259 shares in the company, valued at approximately $27,892,824.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Ryan T. Gosney sold 2,000 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $23.50, for a total transaction of $47,000.00. Following the transaction, the chief accounting officer now directly owns 170,882 shares in the company, valued at $4,015,727. The disclosure for this sale can be found here. In the last ninety days, insiders sold 176,000 shares of company stock worth $3,932,731. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Diversified Trust Co increased its position in Liberty Energy by 2.5% during the 1st quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock valued at $427,000 after purchasing an additional 507 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in Liberty Energy by 4.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 14,262 shares of the company’s stock valued at $296,000 after purchasing an additional 543 shares during the period. Perigon Wealth Management LLC increased its position in Liberty Energy by 2.4% during the 1st quarter. Perigon Wealth Management LLC now owns 24,815 shares of the company’s stock valued at $514,000 after purchasing an additional 571 shares during the period. Sequoia Financial Advisors LLC increased its position in Liberty Energy by 3.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 17,902 shares of the company’s stock valued at $325,000 after purchasing an additional 621 shares during the period. Finally, Andina Capital Management LLC increased its position in Liberty Energy by 3.9% during the 2nd quarter. Andina Capital Management LLC now owns 18,599 shares of the company’s stock valued at $389,000 after purchasing an additional 691 shares during the period. 98.22% of the stock is owned by hedge funds and other institutional investors.

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, 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.