Liberty Energy (NYSE:LBRT) Price Target Raised to $15.00 at TD Cowen

Liberty Energy (NYSE:LBRT) had its target price raised by analysts at TD Cowen from $10.00 to $15.00 in a note issued to investors on Wednesday. The firm presently has a “hold” rating on the stock. TD Cowen’s target price would indicate a potential downside of 11.66% from the stock’s current price.

LBRT has been the subject of several other research reports. The Goldman Sachs Group boosted their price target on shares of Liberty Energy from $11.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, October 21st. Wall Street Zen cut shares of Liberty Energy from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Weiss Ratings cut shares of Liberty Energy from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Citigroup upgraded shares of Liberty Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $12.00 to $21.00 in a research note on Tuesday, October 21st. Finally, Stifel Nicolaus decreased their price target on shares of Liberty Energy from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Liberty Energy has a consensus rating of “Hold” and an average price target of $16.30.

Liberty Energy Price Performance

LBRT opened at $16.98 on Wednesday. The company has a fifty day moving average price of $13.06 and a two-hundred day moving average price of $12.36. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.32. Liberty Energy has a 52 week low of $9.50 and a 52 week high of $23.58. The firm has a market capitalization of $2.75 billion, a PE ratio of 15.16 and a beta of 0.74.

Liberty Energy (NYSE:LBRT) last released its earnings results on Thursday, October 16th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). Liberty Energy had a return on equity of 1.69% and a net margin of 4.76%.The business had revenue of $947.40 million for the quarter, compared to analyst estimates of $967.05 million. During the same period in the prior year, the firm posted $0.45 EPS. Liberty Energy’s revenue was down 16.8% on a year-over-year basis. As a group, analysts anticipate that Liberty Energy will post 0.58 earnings per share for the current year.

Hedge Funds Weigh In On Liberty Energy

Several large investors have recently modified their holdings of LBRT. Sourcerock Group LLC bought a new position in shares of Liberty Energy during the second quarter valued at $23,653,000. Vanguard Group Inc. increased its stake in Liberty Energy by 6.5% in the first quarter. Vanguard Group Inc. now owns 18,443,909 shares of the company’s stock valued at $291,967,000 after purchasing an additional 1,128,491 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Liberty Energy by 285.9% during the second quarter. Bridgeway Capital Management LLC now owns 1,114,559 shares of the company’s stock valued at $12,795,000 after buying an additional 825,759 shares during the last quarter. Callodine Capital Management LP grew its holdings in shares of Liberty Energy by 203.3% during the second quarter. Callodine Capital Management LP now owns 1,057,000 shares of the company’s stock valued at $12,134,000 after buying an additional 708,453 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Liberty Energy by 10.6% during the second quarter. American Century Companies Inc. now owns 6,093,383 shares of the company’s stock valued at $69,952,000 after buying an additional 584,774 shares during the last quarter. Institutional investors own 98.22% of the company’s stock.

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.