Stifel Nicolaus Cuts Liberty Energy (NYSE:LBRT) Price Target to $26.00

Liberty Energy (NYSE:LBRT) had its target price reduced by Stifel Nicolaus from $27.00 to $26.00 in a report published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

LBRT has been the subject of several other reports. TD Cowen dropped their price target on Liberty Energy from $21.00 to $20.00 and set a hold rating for the company in a research note on Friday, July 19th. Barclays dropped their price target on Liberty Energy from $27.00 to $26.00 and set an overweight rating for the company in a research note on Tuesday, July 23rd. Citigroup dropped their price target on Liberty Energy from $28.00 to $25.00 and set a buy rating for the company in a research note on Thursday, October 3rd. Bank of America dropped their price target on Liberty Energy from $24.00 to $22.00 and set a neutral rating for the company in a research note on Monday, July 15th. Finally, Piper Sandler dropped their price target on Liberty Energy from $28.00 to $25.00 and set an overweight rating for the company in a research note on Monday, July 15th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Liberty Energy presently has a consensus rating of Moderate Buy and an average price target of $24.20.

Liberty Energy Stock Performance

Shares of LBRT stock opened at $20.41 on Friday. The stock has a fifty day moving average price of $20.13 and a 200 day moving average price of $21.38. The stock has a market cap of $3.40 billion, a PE ratio of 7.45, a P/E/G ratio of 1.20 and a beta of 1.68. Liberty Energy has a 1 year low of $16.69 and a 1 year high of $24.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the firm posted $0.87 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. Sell-side analysts forecast that Liberty Energy will post 2.14 earnings per share for the current fiscal year.

Insider Transactions at Liberty Energy

In related news, CFO Michael Stock sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $20.01, for a total transaction of $300,150.00. Following the completion of the transaction, the chief financial officer now owns 750,207 shares of the company’s stock, valued at approximately $15,011,642.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $19.77, for a total value of $395,400.00. Following the completion of the transaction, the chief executive officer now owns 2,638,813 shares of the company’s stock, valued at $52,169,333.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael Stock sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $20.01, for a total value of $300,150.00. Following the completion of the transaction, the chief financial officer now directly owns 750,207 shares of the company’s stock, valued at approximately $15,011,642.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,000 shares of company stock worth $1,945,650. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Liberty Energy

Large investors have recently modified their holdings of the stock. EdgeRock Capital LLC bought a new stake in Liberty Energy during the 2nd quarter worth approximately $32,000. GAMMA Investing LLC grew its position in Liberty Energy by 69.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock worth $36,000 after acquiring an additional 713 shares during the last quarter. nVerses Capital LLC grew its position in Liberty Energy by 45.0% during the 2nd quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock worth $61,000 after acquiring an additional 900 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Liberty Energy by 27.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock worth $59,000 after acquiring an additional 709 shares during the last quarter. Finally, CWM LLC grew its position in Liberty Energy by 43.3% during the 2nd quarter. CWM LLC now owns 6,213 shares of the company’s stock worth $130,000 after acquiring an additional 1,876 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors.

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.