Liberty Energy (NYSE:LBRT) Stock Price Down 8.3% – Time to Sell?

Shares of Liberty Energy Inc. (NYSE:LBRT) were down 8.3% during mid-day trading on Thursday. The company traded as low as $16.41 and last traded at $16.5250. Approximately 974,823 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 4,214,655 shares. The stock had previously closed at $18.02.

Analyst Ratings Changes

Several research firms recently commented on LBRT. Wall Street Zen cut Liberty Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Royal Bank Of Canada dropped their price objective on Liberty Energy from $34.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Friday, July 24th. Citigroup cut their price target on shares of Liberty Energy from $28.50 to $27.50 and set a “buy” rating for the company in a report on Wednesday, September 30th. UBS Group cut their target price on shares of Liberty Energy from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, September 30th. Finally, Scotiabank started coverage on Liberty Energy in a research report on Tuesday, September 29th. They set a “sector perform” rating and a $19.00 price objective for the company. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Liberty Energy has an average rating of “Moderate Buy” and a consensus price target of $27.21.

Liberty Energy Trading Down 9.5%

The company has a fifty day moving average of $19.71 and a 200-day moving average of $24.78. 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 firm has a market capitalization of $2.66 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 3.23 and a beta of 0.71.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. Liberty Energy had a return on equity of 1.14% and a net margin of 2.92%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the business posted $0.12 EPS. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Liberty Energy Inc. will post 0.30 earnings per share for the current fiscal year.

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, Director Arjun Murti acquired 14,053 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was bought 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 in the company, valued at $740,437.59. This represents a 50.98% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michael Stock sold 3,333 shares of the stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $20.00, for a total transaction of $66,660.00. Following the completion of the transaction, the chief financial officer directly owned 753,713 shares of the company’s stock, valued at $15,074,260. This trade represents a 0.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,665 shares of company stock worth $319,301 in the last three months. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in shares of Liberty Energy by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,233,668 shares of the company’s stock valued at $265,931,000 after purchasing an additional 431,269 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Liberty Energy by 901.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,431,125 shares of the company’s stock valued at $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 in the 2nd quarter worth $61,185,000. Bridgeway Capital Management LLC increased its holdings in Liberty Energy by 6.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,238,961 shares of the company’s stock worth $22,871,000 after purchasing an additional 69,780 shares in the last quarter. Finally, Empyrean Capital Partners LP acquired a new position in shares of Liberty Energy during the fourth quarter worth about $22,152,000. 98.22% of the stock is 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.