Liberty Energy (NYSE:LBRT) Stock Rating Lowered by Citigroup

Liberty Energy (NYSE:LBRT) was downgraded by stock analysts at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, FinViz reports. They presently have a $19.00 price target on the stock, down from their previous price target of $25.00. Citigroup’s target price would indicate a potential upside of 3.83% from the company’s current price.

LBRT has been the topic of several other research reports. 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 research note on Wednesday. Stifel Nicolaus reduced their target price on shares of Liberty Energy from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, October 11th. Piper Sandler reduced their target price on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Bank of America reduced their target price on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Finally, TD Cowen reduced their target price on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a report on Friday, July 19th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

Liberty Energy Price Performance

Shares of NYSE:LBRT opened at $18.30 on Friday. The firm’s 50 day moving average price is $20.08 and its 200-day moving average price is $21.34. Liberty Energy has a twelve month low of $16.69 and a twelve month high of $24.75. The company has a quick ratio of 1.07, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $3.05 billion, a PE ratio of 6.68, a price-to-earnings-growth ratio of 1.20 and a beta of 1.68.

Liberty Energy (NYSE:LBRT) last issued 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). Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the company earned $0.85 EPS. Liberty Energy’s revenue for the quarter was down 6.4% on a year-over-year basis. Equities research analysts expect that Liberty Energy will post 2.14 EPS for the current year.

Insider Buying and Selling

In related news, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $19.91, for a total value of $398,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,678,813 shares in the company, valued at $53,335,166.83. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Michael Stock sold 15,000 shares of Liberty Energy stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $19.23, for a total transaction of $288,450.00. Following the completion of the sale, the chief financial officer now directly owns 730,207 shares in the company, valued at approximately $14,041,880.61. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction on Monday, September 16th. The stock was sold at an average price of $19.91, for a total value of $398,200.00. Following the sale, the chief executive officer now owns 2,678,813 shares of the company’s stock, valued at approximately $53,335,166.83. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,000 shares of company stock worth $1,945,650 over the last three months. 3.60% of the stock is owned by insiders.

Institutional Trading of Liberty Energy

Several institutional investors and hedge funds have recently made changes to their positions in LBRT. EdgeRock Capital LLC bought a new stake in shares of Liberty Energy during the second quarter worth $32,000. GAMMA Investing LLC increased its stake in shares of Liberty Energy by 69.2% during the second quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock valued at $36,000 after buying an additional 713 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Liberty Energy by 27.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after buying an additional 709 shares during the period. nVerses Capital LLC increased its stake in shares of Liberty Energy by 45.0% during the second quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock valued at $61,000 after buying an additional 900 shares during the period. Finally, CWM LLC increased its stake in shares of Liberty Energy by 43.3% during the second quarter. CWM LLC now owns 6,213 shares of the company’s stock valued at $130,000 after buying an additional 1,876 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.