Liberty Energy (NYSE:LBRT) Price Target Lowered to $22.00 at Wells Fargo & Company

Liberty Energy (NYSE:LBRT) had its price objective decreased by equities researchers at Wells Fargo & Company from $24.00 to $22.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 15.76% from the company’s current price.

LBRT has been the subject of a number of other reports. The Goldman Sachs Group began coverage on shares of Liberty Energy in a report on Friday, December 13th. They set a “neutral” rating and a $19.00 target price for the company. Seaport Res Ptn upgraded Liberty Energy from a “hold” rating to a “strong-buy” rating in a research report on Sunday, January 5th. Royal Bank of Canada decreased their target price on Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Citigroup lifted their price target on shares of Liberty Energy from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Finally, TD Cowen decreased their price objective on shares of Liberty Energy from $18.00 to $16.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Liberty Energy currently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

Liberty Energy Price Performance

Shares of LBRT stock traded down $0.19 during trading on Friday, hitting $19.01. The company had a trading volume of 352,396 shares, compared to its average volume of 2,934,079. Liberty Energy has a 52 week low of $16.57 and a 52 week high of $24.75. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 10.19 and a beta of 1.66. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. The stock’s 50-day moving average is $19.84 and its two-hundred day moving average is $19.79.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.06). Liberty Energy had a return on equity of 14.37% and a net margin of 7.32%. As a group, analysts predict that Liberty Energy will post 0.9 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Christopher A. Wright sold 2,037 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $18.15, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Stock sold 5,000 shares of Liberty Energy stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $18.45, for a total value of $92,250.00. Following the completion of the sale, the chief financial officer now owns 720,207 shares of the company’s stock, valued at $13,287,819.15. The trade was a 0.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,973 shares of company stock worth $1,500,285 in the last 90 days. Insiders own 3.60% of the company’s stock.

Institutional Trading of Liberty Energy

A number of large investors have recently made changes to their positions in LBRT. Creative Planning boosted its holdings in Liberty Energy by 3.7% in the third quarter. Creative Planning now owns 19,456 shares of the company’s stock worth $371,000 after purchasing an additional 703 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Liberty Energy by 0.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 82,223 shares of the company’s stock worth $1,635,000 after acquiring an additional 708 shares during the period. Andina Capital Management LLC grew its holdings in shares of Liberty Energy by 4.4% in the third quarter. Andina Capital Management LLC now owns 19,413 shares of the company’s stock worth $371,000 after acquiring an additional 814 shares during the period. Covestor Ltd increased its position in Liberty Energy by 96.8% during the third quarter. Covestor Ltd now owns 1,704 shares of the company’s stock valued at $33,000 after acquiring an additional 838 shares during the last quarter. Finally, KBC Group NV lifted its holdings in Liberty Energy by 24.8% in the third quarter. KBC Group NV now owns 4,906 shares of the company’s stock valued at $94,000 after acquiring an additional 974 shares during the period. 98.22% of the stock is currently owned by institutional investors.

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, 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.