Liberty Energy (NYSE:LBRT) Price Target Raised to $21.00 at TD Cowen

Liberty Energy (NYSE:LBRT) had its target price increased by equities research analysts at TD Cowen from $19.00 to $21.00 in a research note issued on Friday, Briefing.com reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price objective suggests a potential downside of 5.00% from the company’s previous close.

A number of other analysts also recently issued reports on the company. Bank of America raised their target price on Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday. Wells Fargo & Company dropped their price objective on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, December 21st. Piper Sandler lifted their price objective on Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Finally, Morgan Stanley lifted their price objective on Liberty Energy from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $23.40.

Liberty Energy Stock Up 2.7 %

LBRT stock opened at $22.11 on Friday. Liberty Energy has a twelve month low of $11.62 and a twelve month high of $23.31. The company has a quick ratio of 1.17, a current ratio of 1.49 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average is $21.15 and its 200-day moving average is $19.65. The firm has a market capitalization of $3.68 billion, a PE ratio of 8.07, a P/E/G ratio of 1.04 and a beta of 1.85.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Thursday, April 18th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). Liberty Energy had a return on equity of 26.90% and a net margin of 10.43%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the business posted $0.90 earnings per share. The business’s revenue was down 12.8% compared to the same quarter last year. Sell-side analysts expect that Liberty Energy will post 2.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $20.27, for a total transaction of $405,400.00. Following the completion of the sale, the chief executive officer now owns 2,830,402 shares of the company’s stock, valued at $57,372,248.54. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Ryan T. Gosney sold 6,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total value of $123,000.00. Following the completion of the sale, the chief accounting officer now owns 140,706 shares of the company’s stock, valued at approximately $2,884,473. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $20.27, for a total value of $405,400.00. Following the completion of the sale, the chief executive officer now directly owns 2,830,402 shares of the company’s stock, valued at approximately $57,372,248.54. The disclosure for this sale can be found here. Insiders sold a total of 98,459 shares of company stock valued at $2,077,491 over the last 90 days. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Liberty Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Diversified Trust Co lifted its stake in shares of Liberty Energy by 2.5% in the 1st quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock valued at $427,000 after acquiring an additional 507 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in Liberty Energy by 3.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 17,902 shares of the company’s stock valued at $325,000 after purchasing an additional 621 shares during the period. Advisor Partners II LLC increased its holdings in Liberty Energy by 3.8% during the 3rd quarter. Advisor Partners II LLC now owns 18,974 shares of the company’s stock valued at $351,000 after purchasing an additional 689 shares during the period. PNC Financial Services Group Inc. increased its holdings in Liberty Energy by 27.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after purchasing an additional 709 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in Liberty Energy by 2.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 42,192 shares of the company’s stock valued at $781,000 after purchasing an additional 836 shares during the period. Institutional investors own 98.22% of the company’s stock.

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.