Liberty Energy (NYSE:LBRT) Downgraded by Royal Bank of Canada to “Sector Perform”

Liberty Energy (NYSE:LBRT) was downgraded by equities researchers at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report issued on Monday, MarketBeat reports. They currently have a $19.00 price objective on the stock. Royal Bank of Canada’s price target points to a potential upside of 29.91% from the company’s previous close.

Several other brokerages also recently issued reports on LBRT. Atb Cap Markets upgraded Liberty Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. TD Cowen cut their price target on Liberty Energy from $18.00 to $16.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. The Goldman Sachs Group began coverage on Liberty Energy in a research note on Friday, December 13th. They set a “neutral” rating and a $19.00 price objective on the stock. Stifel Nicolaus boosted their target price on shares of Liberty Energy from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Citigroup upped their target price on shares of Liberty Energy from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Liberty Energy has an average rating of “Moderate Buy” and a consensus price target of $21.80.

Liberty Energy Stock Up 0.4 %

LBRT opened at $14.63 on Monday. Liberty Energy has a one year low of $13.86 and a one year high of $24.75. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 7.82 and a beta of 1.58. The business’s fifty day moving average is $17.94 and its two-hundred day moving average is $18.60. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.97 and a current ratio of 1.27.

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

Insider Buying and Selling

In other Liberty Energy news, CFO Michael Stock sold 5,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $19.51, for a total transaction of $97,550.00. Following the completion of the sale, the chief financial officer now owns 700,207 shares of the company’s stock, valued at approximately $13,661,038.57. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 40,000 shares of company stock valued at $808,350. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Liberty Energy

A number of large investors have recently modified their holdings of the company. Palogic Value Management L.P. acquired a new stake in Liberty Energy during the 4th quarter worth approximately $1,492,000. Alpha Wealth Funds LLC purchased a new stake in Liberty Energy during the fourth quarter worth approximately $728,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Liberty Energy in the fourth quarter worth $3,365,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Liberty Energy by 5.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 338,798 shares of the company’s stock valued at $6,739,000 after acquiring an additional 17,440 shares during the period. Finally, iSAM Funds UK Ltd acquired a new position in shares of Liberty Energy during the 4th quarter valued at $312,000. 98.22% of the stock is currently owned by hedge funds and other 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.