Liberty Energy (NYSE:LBRT) Price Target Cut to $17.00 by Analysts at Barclays

Liberty Energy (NYSE:LBRT) had its price objective decreased by equities research analysts at Barclays from $21.00 to $17.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 59.59% from the company’s current price.

Several other analysts also recently commented on LBRT. TD Cowen reduced their price objective on shares of Liberty Energy from $18.00 to $16.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Citigroup boosted their target price on Liberty Energy from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Royal Bank of Canada cut Liberty Energy from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $24.00 to $19.00 in a research note on Monday, March 24th. Morgan Stanley upgraded Liberty Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $20.00 to $25.00 in a report on Thursday, March 27th. Finally, The Goldman Sachs Group assumed coverage on shares of Liberty Energy in a report on Friday, December 13th. They set a “neutral” rating and a $19.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Liberty Energy currently has an average rating of “Moderate Buy” and a consensus target price of $20.10.

Liberty Energy Trading Down 8.6 %

Shares of Liberty Energy stock traded down $1.01 during midday trading on Thursday, reaching $10.65. The company had a trading volume of 841,049 shares, compared to its average volume of 3,527,694. The stock has a fifty day moving average price of $15.58 and a 200 day moving average price of $17.97. Liberty Energy has a fifty-two week low of $9.50 and a fifty-two week high of $24.75. The firm has a market cap of $1.72 billion, a PE ratio of 5.71 and a beta of 1.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.27 and a quick ratio of 0.97.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Wednesday, January 29th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. On average, equities analysts anticipate that Liberty Energy will post 0.58 earnings per share for the current year.

Insider Buying and Selling at Liberty Energy

In related news, CFO Michael Stock sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $17.94, for a total transaction of $179,400.00. Following the sale, the chief financial officer now directly owns 717,292 shares in the company, valued at approximately $12,868,218.48. This represents a 1.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Liberty Energy

A number of large investors have recently made changes to their positions in LBRT. Quarry LP raised its stake in shares of Liberty Energy by 237.5% during the 3rd quarter. Quarry LP now owns 1,991 shares of the company’s stock valued at $38,000 after purchasing an additional 1,401 shares during the period. Blue Trust Inc. grew its holdings in Liberty Energy by 604.9% during the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the company’s stock valued at $47,000 after buying an additional 2,111 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Liberty Energy by 257.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,197 shares of the company’s stock valued at $47,000 after buying an additional 1,583 shares during the period. Spire Wealth Management bought a new position in shares of Liberty Energy in the fourth quarter valued at approximately $60,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Liberty Energy by 176.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,423 shares of the company’s stock valued at $67,000 after acquiring an additional 2,184 shares during the period. 98.22% of the stock is 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.