Wall Street Zen Upgrades Liberty Energy (NYSE:LBRT) to Sell

Liberty Energy (NYSE:LBRT) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

LBRT has been the subject of several other research reports. Zacks Research cut Liberty Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. Royal Bank Of Canada reduced their price objective on Liberty Energy from $34.00 to $29.00 and set a “sector perform” rating for the company in a research report on Friday, July 24th. Barclays decreased their price objective on Liberty Energy from $27.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. TD Cowen lowered their price objective on Liberty Energy from $24.00 to $22.00 and set a “hold” rating on the stock in a research report on Friday, October 23rd. Finally, Scotiabank assumed coverage on Liberty Energy in a research note on Tuesday, September 29th. They issued a “sector perform” rating and a $19.00 target price for the company. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.42.

Liberty Energy Price Performance

Shares of Liberty Energy stock opened at $14.74 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.30 and a quick ratio of 1.09. The company has a market cap of $2.40 billion, a PE ratio of 67.73, a price-to-earnings-growth ratio of 3.97 and a beta of 0.71. The firm has a fifty day moving average price of $18.59 and a two-hundred day moving average price of $24.58. Liberty Energy has a fifty-two week low of $14.64 and a fifty-two week high of $34.48.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings data on Wednesday, October 21st. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. Liberty Energy had a net margin of 0.91% and a return on equity of 2.13%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the firm posted ($0.06) EPS. The business’s revenue was up 26.3% compared to the same quarter last year. Analysts expect that Liberty Energy will post 0.22 EPS for the current year.

Insider Activity at Liberty Energy

In other Liberty Energy news, Director Ken Babcock purchased 14,500 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The stock was purchased at an average cost of $15.40 per share, with a total value of $223,300.00. Following the acquisition, the director directly owned 83,258 shares of the company’s stock, valued at approximately $1,282,173.20. This trade represents a 21.09% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michael Stock sold 6,666 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $19.84, for a total value of $132,253.44. Following the sale, the chief financial officer directly owned 760,379 shares of the company’s stock, valued at $15,085,919.36. This represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 $315,268 over the last three months. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Liberty Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Root Financial Partners LLC raised its holdings in shares of Liberty Energy by 79.6% in the first quarter. Root Financial Partners LLC now owns 914 shares of the company’s stock valued at $26,000 after buying an additional 405 shares during the last quarter. Valued Wealth Advisors LLC acquired a new stake in Liberty Energy in the 1st quarter valued at about $26,000. Reyes Financial Architecture Inc. acquired a new stake in Liberty Energy in the 3rd quarter valued at about $27,000. Summit Securities Group LLC bought a new position in shares of Liberty Energy in the first quarter worth about $28,000. Finally, Pinnacle Wealth Planning Services Inc. raised its stake in shares of Liberty Energy by 36.8% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 2,862 shares of the company’s stock worth $52,000 after acquiring an additional 770 shares during the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

Liberty Energy Company Profile

Liberty Energy Inc is an oilfield services company that provides completion and production services to exploration and production companies. Its primary business is hydraulic fracturing, a well-stimulation technique used to improve the flow of oil and natural gas from unconventional reservoirs.

The company also offers wireline services, well diagnostics, frac data analysis, engineering support, and related technologies designed to help customers plan, execute, and evaluate well-completion operations.