Citigroup Raises Liberty Energy (NYSE:LBRT) Price Target to $20.00

Liberty Energy (NYSE:LBRT) had its target price hoisted by research analysts at Citigroup from $17.00 to $20.00 in a research note issued on Tuesday, FlyOnTheWall reports. Citigroup’s price objective points to a potential upside of 9.05% from the company’s current price.

A number of other brokerages also recently commented on LBRT. Morgan Stanley reissued an “equal weight” rating and set a $18.00 price objective on shares of Liberty Energy in a research report on Monday, July 24th. Wells Fargo & Company lowered their price target on Liberty Energy from $24.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, June 30th. Stifel Nicolaus lowered their price target on Liberty Energy from $28.00 to $26.00 in a report on Wednesday, July 12th. Finally, Barclays lowered their price target on Liberty Energy from $25.00 to $22.00 in a report on Thursday, June 8th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Liberty Energy has a consensus rating of “Hold” and a consensus target price of $20.75.

Liberty Energy Stock Performance

Shares of Liberty Energy stock opened at $18.34 on Tuesday. Liberty Energy has a one year low of $11.18 and a one year high of $18.44. The company has a market cap of $3.12 billion, a PE ratio of 5.44 and a beta of 2.13. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.17 and a current ratio of 1.44. The business has a 50-day simple moving average of $16.42 and a 200-day simple moving average of $14.32.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Thursday, July 20th. The company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). Liberty Energy had a return on equity of 39.89% and a net margin of 12.63%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. The business’s quarterly revenue was up 27.3% compared to the same quarter last year. On average, equities research analysts forecast that Liberty Energy will post 3.09 EPS for the current fiscal year.

Insider Activity

In other news, CFO Michael Stock sold 63,010 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $16.51, for a total value of $1,040,295.10. Following the completion of the sale, the chief financial officer now directly owns 796,454 shares of the company’s stock, valued at $13,149,455.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Ryan T. Gosney sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $17.00, for a total transaction of $25,500.00. Following the completion of the sale, the chief accounting officer now owns 122,034 shares in the company, valued at $2,074,578. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Stock sold 63,010 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $16.51, for a total value of $1,040,295.10. Following the sale, the chief financial officer now owns 796,454 shares of the company’s stock, valued at approximately $13,149,455.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 274,022 shares of company stock valued at $4,620,634. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Liberty Energy

Large investors have recently modified their holdings of the stock. Gendell Jeffrey L purchased a new stake in shares of Liberty Energy during the fourth quarter worth approximately $19,238,000. Teacher Retirement System of Texas raised its position in Liberty Energy by 140.4% in the fourth quarter. Teacher Retirement System of Texas now owns 101,828 shares of the company’s stock worth $1,630,000 after acquiring an additional 59,466 shares in the last quarter. Clifford Capital Partners LLC raised its position in Liberty Energy by 4.0% in the first quarter. Clifford Capital Partners LLC now owns 570,904 shares of the company’s stock worth $7,313,000 after acquiring an additional 21,778 shares in the last quarter. Profund Advisors LLC raised its position in Liberty Energy by 41.5% in the first quarter. Profund Advisors LLC now owns 44,615 shares of the company’s stock worth $572,000 after acquiring an additional 13,074 shares in the last quarter. Finally, Bailard Inc. purchased a new position in Liberty Energy in the first quarter worth $256,000. Hedge funds and other institutional investors own 91.34% of the company’s stock.

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, data analytics, related goods, and technologies; and other services comprising design and pump diagnostic fracture injection test, DFIT and mini-frac analysis, and laboratory services, such as fluid rheology, surfactant, clay control, scaling and biocide testing.