Liberty Energy (NYSE:LBRT) Price Target Raised to $22.00

Liberty Energy (NYSE:LBRT) had its target price lifted by investment analysts at Citigroup from $19.00 to $22.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 1.57% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Barclays decreased their price target on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Royal Bank of Canada lowered their price objective on Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Atb Cap Markets raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Stifel Nicolaus dropped their price target on shares of Liberty Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Monday. Finally, The Goldman Sachs Group initiated coverage on shares of Liberty Energy in a research report on Friday, December 13th. They set a “neutral” rating and a $19.00 price objective for the company. Five investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.60.

Liberty Energy Trading Up 2.2 %

NYSE:LBRT traded up $0.47 on Tuesday, reaching $21.66. The company’s stock had a trading volume of 2,004,722 shares, compared to its average volume of 2,596,301. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 10.31 and a beta of 1.66. The company has a quick ratio of 0.97, a current ratio of 1.23 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 stock has a 50 day moving average price of $18.39 and a 200 day moving average price of $19.64.

Liberty Energy (NYSE:LBRT) last posted its earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.10). Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business posted $0.85 EPS. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, equities analysts anticipate that Liberty Energy will post 1.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other Liberty Energy news, CEO Christopher A. Wright sold 16,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $18.23, for a total value of $291,680.00. Following the transaction, the chief executive officer now directly owns 2,562,813 shares of the company’s stock, valued at $46,720,080.99. This trade represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael Stock sold 5,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $17.21, for a total value of $86,050.00. Following the completion of the sale, the chief financial officer now directly owns 725,207 shares of the company’s stock, valued at $12,480,812.47. The trade was a 0.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,973 shares of company stock valued at $1,471,335 in the last quarter. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Liberty Energy

Several hedge funds and other institutional investors have recently bought and sold shares of LBRT. Covestor Ltd boosted its stake in shares of Liberty Energy by 96.8% during the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company’s stock valued at $33,000 after buying an additional 838 shares during the last quarter. Quarry LP grew its stake in Liberty Energy by 237.5% in the third quarter. Quarry LP now owns 1,991 shares of the company’s stock worth $38,000 after purchasing an additional 1,401 shares in the last quarter. GAMMA Investing LLC increased its holdings in Liberty Energy by 82.1% in the third quarter. GAMMA Investing LLC now owns 3,174 shares of the company’s stock valued at $61,000 after buying an additional 1,431 shares during the last quarter. US Bancorp DE raised its stake in Liberty Energy by 93.2% during the third quarter. US Bancorp DE now owns 4,180 shares of the company’s stock valued at $80,000 after buying an additional 2,016 shares in the last quarter. Finally, KBC Group NV lifted its holdings in Liberty Energy by 24.8% during the 3rd quarter. KBC Group NV now owns 4,906 shares of the company’s stock worth $94,000 after buying an additional 974 shares during the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

Liberty Energy Company Profile

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.