Liberty Energy (NYSE:LBRT) Price Target Cut to $16.00 by Analysts at TD Cowen

Liberty Energy (NYSE:LBRT) had its target price dropped by equities research analysts at TD Cowen from $18.00 to $16.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. TD Cowen’s price objective suggests a potential downside of 25.09% from the stock’s previous close.

LBRT has been the topic of several other research reports. The Goldman Sachs Group assumed coverage on shares of Liberty Energy in a research report on Friday, December 13th. They set a “neutral” rating and a $19.00 price objective on the stock. Stifel Nicolaus reduced their price target on shares of Liberty Energy from $25.00 to $23.00 and set a “buy” rating for the company in a report on Monday. Citigroup boosted their price objective on shares of Liberty Energy from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday. Barclays reduced their target price on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Evercore ISI raised shares of Liberty Energy to a “strong-buy” rating in a report on Thursday, October 17th. Five equities 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.20.

Liberty Energy Trading Down 1.2 %

LBRT stock traded down $0.25 during mid-day trading on Wednesday, reaching $21.36. 1,403,114 shares of the stock traded hands, compared to its average volume of 2,688,524. The company has a current ratio of 1.23, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. The company has a market cap of $3.49 billion, a P/E ratio of 10.17 and a beta of 1.66. The stock’s fifty day moving average is $18.48 and its 200-day moving average is $19.65. Liberty Energy has a 52-week low of $16.57 and a 52-week high of $24.75.

Liberty Energy (NYSE:LBRT) last issued its 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 net margin of 8.02% and a return on equity of 18.50%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the business earned $0.85 EPS. The company’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, sell-side analysts expect that Liberty Energy will post 1.72 earnings per share for the current year.

Insider Buying and Selling at Liberty Energy

In other news, CFO Michael Stock sold 5,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $17.21, for a total transaction of $86,050.00. Following the completion of the transaction, the chief financial officer now directly owns 725,207 shares of the company’s stock, valued at $12,480,812.47. This represents a 0.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher A. Wright sold 2,037 shares of Liberty Energy stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $18.15, for a total value of $36,971.55. Following the completion of the sale, the chief executive officer now directly owns 2,578,813 shares in the company, valued at approximately $46,805,455.95. This represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,973 shares of company stock valued at $1,471,335. 3.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LBRT. Covestor Ltd increased its position 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 last quarter. Quarry LP grew its stake in shares of Liberty Energy by 237.5% in the third quarter. Quarry LP now owns 1,991 shares of the company’s stock valued at $38,000 after buying an additional 1,401 shares in the last quarter. GAMMA Investing LLC increased its holdings in Liberty Energy by 82.1% during the third quarter. GAMMA Investing LLC now owns 3,174 shares of the company’s stock worth $61,000 after buying an additional 1,431 shares during the last quarter. US Bancorp DE increased its holdings in Liberty Energy by 93.2% during the third quarter. US Bancorp DE now owns 4,180 shares of the company’s stock worth $80,000 after buying an additional 2,016 shares during the last quarter. Finally, KBC Group NV raised its position in Liberty Energy by 24.8% during the third 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. Institutional investors and hedge funds own 98.22% of the company’s stock.

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.