Stifel Nicolaus Has Lowered Expectations for Liberty Energy (NYSE:LBRT) Stock Price

Liberty Energy (NYSE:LBRT) had its price target dropped by analysts at Stifel Nicolaus from $25.00 to $23.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 6.14% from the company’s current price.

A number of other brokerages have also weighed in on LBRT. Evercore ISI upgraded Liberty Energy to a “strong-buy” rating in a research note on Thursday, October 17th. Atb Cap Markets raised shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Citigroup cut shares of Liberty Energy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $25.00 to $19.00 in a research note on Friday, October 18th. Wells Fargo & Company lowered their price objective on shares of Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Finally, Barclays cut their target price on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Five equities research 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.60.

Liberty Energy Trading Up 2.3 %

Shares of Liberty Energy stock opened at $21.67 on Monday. The company’s 50-day moving average price is $18.48 and its 200-day moving average price is $19.65. The company has a current ratio of 1.23, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. Liberty Energy has a 12-month low of $16.57 and a 12-month high of $24.75. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 10.32 and a beta of 1.66.

Liberty Energy (NYSE:LBRT) last posted its earnings results 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 firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 earnings per share. On average, equities analysts expect that Liberty Energy will post 1.72 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Christopher A. Wright sold 16,000 shares of Liberty Energy stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $18.23, for a total value of $291,680.00. Following the sale, the chief executive officer now directly owns 2,562,813 shares in the company, valued at approximately $46,720,080.99. This trade represents a 0.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Stock sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $20.82, for a total value of $416,400.00. Following the transaction, the chief financial officer now owns 680,207 shares of the company’s stock, valued at approximately $14,161,909.74. This represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,973 shares of company stock valued at $1,471,335. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC boosted its stake in shares of Liberty Energy by 45.1% during the 3rd quarter. Empowered Funds LLC now owns 495,578 shares of the company’s stock valued at $9,461,000 after purchasing an additional 154,070 shares in the last quarter. Principal Financial Group Inc. boosted its position in Liberty Energy by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 872,215 shares of the company’s stock valued at $16,651,000 after acquiring an additional 37,927 shares in the last quarter. Quest Partners LLC grew its holdings in shares of Liberty Energy by 168.2% during the 3rd quarter. Quest Partners LLC now owns 62,979 shares of the company’s stock worth $1,202,000 after acquiring an additional 39,497 shares during the period. JPMorgan Chase & Co. raised its position in shares of Liberty Energy by 61.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,146,179 shares of the company’s stock worth $60,061,000 after acquiring an additional 1,193,918 shares in the last quarter. Finally, Impala Asset Management LLC lifted its stake in shares of Liberty Energy by 89.2% in the 3rd quarter. Impala Asset Management LLC now owns 350,000 shares of the company’s stock valued at $6,682,000 after purchasing an additional 165,000 shares during the period. 98.22% of the stock is owned by hedge funds and other 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.