Piper Sandler Trims Liberty Energy (NYSE:LBRT) Target Price to $25.00

Liberty Energy (NYSE:LBRT) had its target price reduced by analysts at Piper Sandler from $28.00 to $25.00 in a report released on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 18.20% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Liberty Energy from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Barclays lifted their price objective on Liberty Energy from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Citigroup raised shares of Liberty Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $24.00 to $32.00 in a research report on Wednesday, May 29th. TD Cowen lifted their price target on shares of Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Finally, Bank of America increased their price objective on shares of Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Liberty Energy presently has an average rating of “Moderate Buy” and an average price target of $25.11.

Liberty Energy Stock Performance

Liberty Energy stock opened at $21.15 on Monday. The stock has a fifty day moving average price of $21.98 and a 200 day moving average price of $20.94. Liberty Energy has a 52 week low of $14.75 and a 52 week high of $24.75. The firm has a market capitalization of $3.52 billion, a P/E ratio of 7.72, a PEG ratio of 1.13 and a beta of 1.74. The company has a current ratio of 1.48, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Thursday, April 18th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.06). Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the company earned $0.90 earnings per share. The company’s revenue was down 12.8% on a year-over-year basis. Equities research analysts anticipate that Liberty Energy will post 2.39 earnings per share for the current year.

Insider Activity

In other Liberty Energy news, insider R Sean Elliott sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $23.10, for a total transaction of $462,000.00. Following the sale, the insider now owns 259,108 shares in the company, valued at $5,985,394.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider R Sean Elliott sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $23.10, for a total value of $462,000.00. Following the transaction, the insider now directly owns 259,108 shares in the company, valued at approximately $5,985,394.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Ryan T. Gosney sold 2,000 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $23.50, for a total transaction of $47,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 170,882 shares in the company, valued at approximately $4,015,727. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 176,000 shares of company stock worth $3,932,731. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Liberty Energy

A number of hedge funds have recently added to or reduced their stakes in LBRT. SG Americas Securities LLC increased its holdings in shares of Liberty Energy by 216.3% in the 2nd quarter. SG Americas Securities LLC now owns 81,987 shares of the company’s stock worth $1,713,000 after acquiring an additional 56,064 shares during the period. Simplicity Wealth LLC bought a new stake in shares of Liberty Energy during the second quarter valued at approximately $261,000. CWM LLC boosted its position in shares of Liberty Energy by 43.3% during the second quarter. CWM LLC now owns 6,213 shares of the company’s stock worth $130,000 after buying an additional 1,876 shares during the period. GAMMA Investing LLC grew its holdings in Liberty Energy by 69.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock worth $36,000 after buying an additional 713 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in Liberty Energy by 571.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 35,248 shares of the company’s stock valued at $718,000 after acquiring an additional 30,000 shares in the last quarter. 98.22% of the stock is currently owned by institutional investors.

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.