Liberty Energy (NYSE:LBRT) Stock Rating Reaffirmed by Morgan Stanley

Liberty Energy (NYSE:LBRT)‘s stock had its “equal weight” rating reaffirmed by research analysts at Morgan Stanley in a note issued to investors on Monday, Benzinga reports. They presently have a $24.00 price target on the stock. Morgan Stanley’s price target points to a potential upside of 5.17% from the company’s current price.

A number of other brokerages also recently issued reports on LBRT. Piper Sandler increased their price target on Liberty Energy from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Wells Fargo & Company lifted their price target on shares of Liberty Energy from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. TD Cowen upped their price objective on shares of Liberty Energy from $19.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Royal Bank of Canada lifted their target price on shares of Liberty Energy from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Finally, Barclays boosted their target price on shares of Liberty Energy from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.30.

Liberty Energy Stock Performance

NYSE LBRT opened at $22.82 on Monday. The firm has a market capitalization of $3.80 billion, a P/E ratio of 8.31, a PEG ratio of 1.11 and a beta of 1.85. The stock has a 50-day simple moving average of $21.25 and a two-hundred day simple moving average of $19.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.48. Liberty Energy has a fifty-two week low of $11.62 and a fifty-two week high of $23.31.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data on Thursday, April 18th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.06). The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.90 EPS. On average, equities analysts forecast that Liberty Energy will post 2.58 earnings per share for the current year.

Insider Buying and Selling at Liberty Energy

In other news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $22.66, for a total transaction of $453,200.00. Following the sale, the chief executive officer now owns 2,858,814 shares of the company’s stock, valued at approximately $64,780,725.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $22.66, for a total transaction of $453,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,858,814 shares in the company, valued at approximately $64,780,725.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Ryan T. Gosney sold 6,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total transaction of $123,000.00. Following the completion of the sale, the chief accounting officer now owns 140,706 shares in the company, valued at $2,884,473. The disclosure for this sale can be found here. Insiders have sold 98,459 shares of company stock worth $2,077,491 in the last ninety days. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Liberty Energy

Hedge funds have recently made changes to their positions in the stock. CWM LLC raised its position in Liberty Energy by 59.7% in the third quarter. CWM LLC now owns 3,166 shares of the company’s stock valued at $59,000 after purchasing an additional 1,183 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Liberty Energy in the third quarter valued at $1,787,000. Miller Howard Investments Inc. NY raised its holdings in shares of Liberty Energy by 1.3% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 227,433 shares of the company’s stock valued at $4,212,000 after buying an additional 2,909 shares during the period. HGK Asset Management Inc. acquired a new position in Liberty Energy during the 3rd quarter worth about $330,000. Finally, Maryland State Retirement & Pension System purchased a new position in Liberty Energy during the 3rd quarter valued at about $1,058,000. Hedge funds and other institutional investors own 98.22% 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, 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.