Liberty Energy (NYSE:LBRT) Stock Gets Price Target Cut from Piper Sandler

Liberty Energy (NYSE:LBRT) had its price target decreased by stock analysts at Piper Sandler from $30.00 to $29.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 74.46% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley dropped their target price on shares of Liberty Energy from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday. Scotiabank began coverage on Liberty Energy in a report on Tuesday, September 29th. They set a “sector perform” rating and a $19.00 price target for the company. Weiss Ratings upgraded Liberty Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Barclays raised Liberty Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $23.00 to $27.00 in a research report on Monday, September 28th. Finally, UBS Group lowered their price target on Liberty Energy from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, September 30th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.12.

Liberty Energy Stock Performance

Shares of LBRT stock opened at $16.62 on Monday. The stock has a market cap of $2.71 billion, a P/E ratio of 22.46, a P/E/G ratio of 2.80 and a beta of 0.71. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.99 and a quick ratio of 1.75. The company has a fifty day moving average price of $19.58 and a two-hundred day moving average price of $24.61. Liberty Energy has a one year low of $11.52 and a one year high of $34.48.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Liberty Energy had a net margin of 2.92% and a return on equity of 1.14%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm posted $0.12 EPS. The company’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, equities analysts predict that Liberty Energy will post 0.30 EPS for the current year.

Insider Activity

In other news, CFO Michael Stock sold 3,333 shares of the stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $20.00, for a total transaction of $66,660.00. Following the transaction, the chief financial officer owned 753,713 shares in the company, valued at approximately $15,074,260. This trade represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Arjun N. Murti bought 14,053 shares of the stock in a transaction dated Tuesday, July 28th. The shares were purchased at an average price of $17.79 per share, for a total transaction of $250,002.87. Following the purchase, the director owned 41,621 shares of the company’s stock, valued at $740,437.59. This trade represents a 50.98% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 16,665 shares of company stock valued at $319,301 in the last ninety days. 2.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Liberty Energy by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 9,233,668 shares of the company’s stock valued at $265,931,000 after buying an additional 431,269 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Liberty Energy by 901.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,431,125 shares of the company’s stock worth $127,616,000 after acquiring an additional 3,988,535 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Liberty Energy during the second quarter worth about $61,185,000. Sei Investments Co. raised its stake in Liberty Energy by 54.3% during the first quarter. Sei Investments Co. now owns 983,706 shares of the company’s stock worth $28,331,000 after acquiring an additional 346,239 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of Liberty Energy by 23.8% in the second quarter. Squarepoint Ops LLC now owns 1,051,488 shares of the company’s stock worth $27,538,000 after acquiring an additional 201,839 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors and hedge funds.

About Liberty Energy

Liberty Energy Inc is an oilfield services company that provides hydraulic fracturing and related completion services to exploration and production companies. Its operations support the development of unconventional oil and natural gas wells, primarily in North America.

The company’s services and technologies include pressure pumping, well stimulation, wireline services, proppant and logistics solutions, and digital tools designed to improve completion performance and operational efficiency.