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

Liberty Energy (NYSE:LBRT) had its target price hoisted by equities researchers at TD Cowen from $19.00 to $21.00 in a report released on Friday, Briefing.com reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price target suggests a potential downside of 5.00% from the stock’s previous close.

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

Liberty Energy Price Performance

Liberty Energy stock opened at $22.11 on Friday. The company’s 50 day simple moving average is $21.15 and its 200-day simple moving average is $19.65. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 8.07, a price-to-earnings-growth ratio of 1.04 and a beta of 1.85. Liberty Energy has a 1 year low of $11.62 and a 1 year high of $23.31. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.17 and a current ratio of 1.49.

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

Insider Activity at Liberty Energy

In related news, Director William F. Kimble sold 12,459 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $21.55, for a total value of $268,491.45. Following the completion of the sale, the director now owns 69,963 shares in the company, valued at approximately $1,507,702.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $20.27, for a total transaction of $405,400.00. Following the completion of the transaction, the chief executive officer now owns 2,830,402 shares in the company, valued at approximately $57,372,248.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William F. Kimble sold 12,459 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $21.55, for a total transaction of $268,491.45. Following the sale, the director now directly owns 69,963 shares in the company, valued at $1,507,702.65. The disclosure for this sale can be found here. Insiders sold a total of 98,459 shares of company stock worth $2,077,491 in the last 90 days. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Liberty Energy

Hedge funds have recently modified their holdings of the company. EdgeRock Capital LLC acquired a new stake in shares of Liberty Energy during the 4th quarter worth about $27,000. Principal Securities Inc. acquired a new stake in shares of Liberty Energy during the 4th quarter worth about $39,000. Quadrant Capital Group LLC lifted its holdings in shares of Liberty Energy by 70.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock worth $53,000 after acquiring an additional 1,206 shares during the period. KBC Group NV purchased a new position in shares of Liberty Energy during the 4th quarter worth about $55,000. Finally, West Tower Group LLC purchased a new position in shares of Liberty Energy during the 4th quarter worth about $56,000. 98.22% of the stock is owned by institutional investors and hedge funds.

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.