Royal Bank of Canada Has Lowered Expectations for Liberty Energy (NYSE:LBRT) Stock Price

Liberty Energy (NYSE:LBRT) had its price objective cut by equities researchers at Royal Bank of Canada from $26.00 to $24.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 29.99% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Seaport Res Ptn upgraded shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a research report on Sunday, January 5th. Citigroup increased their price target on shares of Liberty Energy from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Barclays decreased their price target on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Evercore ISI upgraded shares of Liberty Energy to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company decreased their price target on shares of Liberty Energy from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday. Five analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Liberty Energy currently has an average rating of “Moderate Buy” and an average target price of $22.30.

Liberty Energy Price Performance

NYSE LBRT traded down $0.73 on Friday, reaching $18.46. 1,997,983 shares of the company’s stock traded hands, compared to its average volume of 3,012,489. Liberty Energy has a 12 month low of $16.57 and a 12 month high of $24.75. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.97. The stock has a 50-day simple moving average of $19.84 and a 200 day simple moving average of $19.79. The stock has a market cap of $3.02 billion, a PE ratio of 9.88 and a beta of 1.66.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.06). Liberty Energy had a net margin of 7.32% and a return on equity of 14.37%. As a group, research analysts predict that Liberty Energy will post 0.9 earnings per share for the current year.

Insider Transactions at Liberty Energy

In other Liberty Energy news, CEO Christopher A. Wright sold 12,000 shares of Liberty Energy stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.44, for a total value of $209,280.00. Following the transaction, the chief executive officer now directly owns 2,606,813 shares of the company’s stock, valued at approximately $45,462,818.72. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Stock sold 5,000 shares of Liberty Energy stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $23.00, for a total transaction of $115,000.00. Following the completion of the sale, the chief financial officer now owns 675,207 shares of the company’s stock, valued at $15,529,761. This trade represents a 0.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 77,973 shares of company stock valued at $1,500,285. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Liberty Energy

A number of institutional investors and hedge funds have recently bought and sold shares of LBRT. Covestor Ltd increased its stake in Liberty Energy by 96.8% during the third quarter. Covestor Ltd now owns 1,704 shares of the company’s stock worth $33,000 after acquiring an additional 838 shares during the last quarter. Quarry LP increased its stake in Liberty Energy by 237.5% during the third quarter. Quarry LP now owns 1,991 shares of the company’s stock worth $38,000 after acquiring an additional 1,401 shares during the last quarter. Blue Trust Inc. increased its stake in Liberty Energy by 604.9% during the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the company’s stock worth $47,000 after acquiring an additional 2,111 shares during the last quarter. Spire Wealth Management acquired a new stake in Liberty Energy during the fourth quarter worth $60,000. Finally, GAMMA Investing LLC increased its stake in Liberty Energy by 82.1% during the third quarter. GAMMA Investing LLC now owns 3,174 shares of the company’s stock worth $61,000 after acquiring an additional 1,431 shares during the last quarter. 98.22% of the stock is currently 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.