Liberty Energy (NYSE:LBRT) Price Target Lowered to $23.00 at Stifel Nicolaus

Liberty Energy (NYSE:LBRT) had its price target dropped by investment analysts at Stifel Nicolaus from $25.00 to $23.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 5.55% from the company’s current price.

A number of other research analysts have also commented on LBRT. Barclays decreased their price objective on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Atb Cap Markets upgraded shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Royal Bank of Canada dropped their price objective on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Citigroup cut shares of Liberty Energy from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $25.00 to $19.00 in a report on Friday, October 18th. Finally, Wells Fargo & Company cut their price target on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Liberty Energy has an average rating of “Moderate Buy” and a consensus target price of $22.30.

Liberty Energy Stock Performance

Shares of LBRT stock traded up $0.90 during trading on Monday, reaching $21.79. 487,023 shares of the company’s stock were exchanged, compared to its average volume of 2,016,538. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. The firm’s fifty day moving average price is $18.32 and its 200-day moving average price is $19.64. Liberty Energy has a twelve month low of $16.57 and a twelve month high of $24.75. The stock has a market capitalization of $3.56 billion, a PE ratio of 10.38 and a beta of 1.66.

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

Insider Activity

In other news, CEO Christopher A. Wright sold 2,936 shares of Liberty Energy stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $19.16, for a total transaction of $56,253.76. Following the transaction, the chief executive officer now owns 2,543,877 shares in the company, valued at approximately $48,740,683.32. The trade was a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Stock sold 5,000 shares of the stock in a transaction on Friday, November 1st. The shares were 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 owns 725,207 shares of the company’s stock, valued at $12,480,812.47. The trade was a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,973 shares of company stock worth $1,471,335. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC boosted its holdings in Liberty Energy by 45.1% in the third quarter. Empowered Funds LLC now owns 495,578 shares of the company’s stock valued at $9,461,000 after acquiring an additional 154,070 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Liberty Energy by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 872,215 shares of the company’s stock valued at $16,651,000 after purchasing an additional 37,927 shares during the last quarter. Quest Partners LLC raised its stake in Liberty Energy by 168.2% during the third quarter. Quest Partners LLC now owns 62,979 shares of the company’s stock worth $1,202,000 after buying an additional 39,497 shares during the last quarter. Impala Asset Management LLC raised its stake in Liberty Energy by 89.2% during the third quarter. Impala Asset Management LLC now owns 350,000 shares of the company’s stock worth $6,682,000 after buying an additional 165,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Liberty Energy by 8.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,237,247 shares of the company’s stock valued at $42,709,000 after acquiring an additional 166,443 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.