Liberty Energy (NYSE:LBRT) Price Target Raised to $22.00

Liberty Energy (NYSE:LBRT) had its price objective upped by Citigroup from $19.00 to $22.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential upside of 3.09% from the company’s current price.

Other analysts have also issued research reports about the company. Wells Fargo & Company decreased their price objective on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Seaport Res Ptn raised shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Sunday. Atb Cap Markets raised shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Stifel Nicolaus decreased their target price on shares of Liberty Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Monday. Finally, The Goldman Sachs Group assumed coverage on shares of Liberty Energy in a research note on Friday, December 13th. They issued a “neutral” rating and a $19.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.20.

Liberty Energy Stock Performance

Shares of LBRT opened at $21.34 on Tuesday. Liberty Energy has a 12-month low of $16.57 and a 12-month high of $24.75. The stock has a market cap of $3.49 billion, a P/E ratio of 10.16 and a beta of 1.66. The company has a current ratio of 1.23, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average of $18.48 and a two-hundred day moving average of $19.65.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.10). The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. As a group, research analysts predict that Liberty Energy will post 1.72 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Michael Stock sold 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $17.21, for a total transaction of $86,050.00. Following the completion of the sale, the chief financial officer now owns 725,207 shares in the company, valued at approximately $12,480,812.47. The trade was a 0.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher A. Wright sold 2,037 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $18.15, for a total transaction of $36,971.55. Following the completion of the transaction, the chief executive officer now owns 2,578,813 shares in the company, valued at $46,805,455.95. The trade was a 0.08 % 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 valued at $1,471,335. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of Liberty Energy

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its position 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 purchasing an additional 2,640,119 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Liberty Energy by 61.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,146,179 shares of the company’s stock valued at $60,061,000 after buying an additional 1,193,918 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Liberty Energy by 15.9% during the 3rd quarter. Pacer Advisors Inc. now owns 7,012,382 shares of the company’s stock valued at $133,866,000 after buying an additional 963,068 shares during the period. Canoe Financial LP lifted its position in Liberty Energy by 20.4% during the 3rd quarter. Canoe Financial LP now owns 4,124,695 shares of the company’s stock worth $79,408,000 after acquiring an additional 699,500 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Liberty Energy by 17.6% in the 2nd quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock worth $82,754,000 after acquiring an additional 594,051 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.