Citigroup Forecasts Strong Price Appreciation for Liberty Energy (NYSE:LBRT) Stock

Liberty Energy (NYSE:LBRT) had its price target boosted by equities research analysts at Citigroup from $19.00 to $22.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 3.09% from the company’s previous close.

Several other equities analysts have also commented on the company. Evercore ISI raised Liberty Energy to a “strong-buy” rating in a report on Thursday, October 17th. Stifel Nicolaus dropped their price objective on Liberty Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Monday. Barclays cut their target price on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Wells Fargo & Company lowered their price target on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Finally, Atb Cap Markets raised shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Five investment 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.20.

Liberty Energy Stock Performance

Shares of LBRT opened at $21.34 on Tuesday. Liberty Energy has a 1 year low of $16.57 and a 1 year high of $24.75. The stock has a market capitalization of $3.49 billion, a PE ratio of 10.16 and a beta of 1.66. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 1.23. The stock has a 50-day simple moving average of $18.48 and a 200-day simple moving average of $19.65.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The firm’s revenue was down 6.4% compared to the same quarter last year. On average, analysts predict that Liberty Energy will post 1.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michael Stock sold 20,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $20.82, for a total value of $416,400.00. Following the completion of the sale, the chief financial officer now owns 680,207 shares in the company, valued at approximately $14,161,909.74. This trade represents a 2.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher A. Wright sold 2,037 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $18.15, for a total transaction of $36,971.55. Following the transaction, the chief executive officer now owns 2,578,813 shares in the company, valued at approximately $46,805,455.95. This trade represents a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,973 shares of company stock valued at $1,471,335. 3.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Covestor Ltd grew its stake in shares of Liberty Energy by 96.8% during the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company’s stock worth $33,000 after purchasing an additional 838 shares during the period. Quarry LP grew its position 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 buying an additional 1,401 shares during the period. GAMMA Investing LLC increased its holdings in Liberty Energy by 82.1% in the third quarter. GAMMA Investing LLC now owns 3,174 shares of the company’s stock valued at $61,000 after buying an additional 1,431 shares in the last quarter. US Bancorp DE lifted its position in shares of Liberty Energy by 93.2% during the 3rd quarter. US Bancorp DE now owns 4,180 shares of the company’s stock valued at $80,000 after acquiring an additional 2,016 shares during the period. Finally, KBC Group NV boosted its stake in shares of Liberty Energy by 24.8% during the 3rd quarter. KBC Group NV now owns 4,906 shares of the company’s stock worth $94,000 after acquiring an additional 974 shares in the last quarter. Hedge funds and other 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.