Stifel Nicolaus Lowers Liberty Energy (NYSE:LBRT) Price Target to $23.00

Liberty Energy (NYSE:LBRT) had its price target dropped by analysts at Stifel Nicolaus from $25.00 to $23.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 6.14% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Atb Cap Markets raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company reduced their price target on shares of Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Barclays lowered their price objective on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. The Goldman Sachs Group assumed coverage on shares of Liberty Energy in a research note on Friday, December 13th. They issued a “neutral” rating and a $19.00 price objective on the stock. Finally, Royal Bank of Canada decreased their target price on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Liberty Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.60.

Liberty Energy Stock Performance

NYSE:LBRT opened at $21.67 on Monday. The firm has a market capitalization of $3.54 billion, a P/E ratio of 10.32 and a beta of 1.66. Liberty Energy has a twelve month low of $16.57 and a twelve month high of $24.75. The company has a fifty day moving average of $18.48 and a 200-day moving average of $19.65. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.10). The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. Liberty Energy’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.85 EPS. As a group, sell-side analysts anticipate that Liberty Energy will post 1.72 EPS for the current year.

Insider Buying and Selling

In other news, CFO Michael Stock sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $20.82, for a total transaction of $416,400.00. Following the completion of the sale, the chief financial officer now owns 680,207 shares in the company, valued at $14,161,909.74. This trade represents a 2.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher A. Wright sold 12,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 2,606,813 shares in the company, valued at approximately $45,462,818.72. The trade was a 0.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,973 shares of company stock worth $1,471,335. 3.60% of the stock is owned by company insiders.

Institutional Trading of Liberty Energy

Hedge funds have recently made changes to their positions in the company. Empowered Funds LLC grew its stake in shares of Liberty Energy by 45.1% during the 3rd quarter. Empowered Funds LLC now owns 495,578 shares of the company’s stock worth $9,461,000 after acquiring an additional 154,070 shares during the period. Principal Financial Group Inc. boosted its position in Liberty Energy by 4.5% during the third quarter. Principal Financial Group Inc. now owns 872,215 shares of the company’s stock worth $16,651,000 after purchasing an additional 37,927 shares during the period. Quest Partners LLC boosted its position in Liberty Energy by 168.2% during the third quarter. Quest Partners LLC now owns 62,979 shares of the company’s stock worth $1,202,000 after purchasing an additional 39,497 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Liberty Energy by 61.2% in the third quarter. JPMorgan Chase & Co. now owns 3,146,179 shares of the company’s stock worth $60,061,000 after purchasing an additional 1,193,918 shares in the last quarter. Finally, Impala Asset Management LLC raised its position in shares of Liberty Energy by 89.2% in the third quarter. Impala Asset Management LLC now owns 350,000 shares of the company’s stock valued at $6,682,000 after purchasing an additional 165,000 shares during the period. 98.22% of the stock is currently owned by institutional investors.

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.