Liberty Energy (NYSE:LBRT) Earns “Equal Weight” Rating from Wells Fargo & Company

Liberty Energy (NYSE:LBRT)‘s stock had its “equal weight” rating restated by equities researchers at Wells Fargo & Company in a note issued to investors on Tuesday, MarketBeat reports. They currently have a $11.00 price objective on the stock, down from their prior price objective of $20.00. Wells Fargo & Company‘s target price points to a potential downside of 5.66% from the stock’s current price.

Several other research analysts also recently commented on LBRT. Stifel Nicolaus raised their price objective on shares of Liberty Energy from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Morgan Stanley raised shares of Liberty Energy from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $20.00 to $25.00 in a report on Thursday, March 27th. Citigroup lifted their target price on shares of Liberty Energy from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Royal Bank of Canada cut shares of Liberty Energy from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $24.00 to $19.00 in a report on Monday, March 24th. Finally, TD Cowen decreased their price objective on shares of Liberty Energy from $18.00 to $16.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Liberty Energy has an average rating of “Moderate Buy” and an average price target of $20.80.

Liberty Energy Stock Up 16.6 %

Shares of LBRT opened at $11.66 on Tuesday. The firm’s 50 day moving average is $15.58 and its 200-day moving average is $17.97. The stock has a market capitalization of $1.89 billion, a PE ratio of 6.24 and a beta of 1.18. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 0.20. Liberty Energy has a 12 month low of $9.50 and a 12 month high of $24.75.

Liberty Energy (NYSE:LBRT) last released its earnings results on Wednesday, January 29th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.06). Liberty Energy had a net margin of 7.32% and a return on equity of 14.28%. Equities research analysts forecast that Liberty Energy will post 0.58 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Michael Stock sold 10,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $17.94, for a total transaction of $179,400.00. Following the completion of the transaction, the chief financial officer now owns 717,292 shares in the company, valued at approximately $12,868,218.48. This represents a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Liberty Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC raised its stake in shares of Liberty Energy by 70.2% in the third quarter. HighTower Advisors LLC now owns 25,115 shares of the company’s stock valued at $475,000 after acquiring an additional 10,362 shares during the period. Quarry LP boosted its holdings in shares of Liberty Energy by 237.5% in the 3rd 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. Stifel Financial Corp boosted its stake in Liberty Energy by 33.5% in the 3rd quarter. Stifel Financial Corp now owns 145,849 shares of the company’s stock worth $2,784,000 after purchasing an additional 36,573 shares in the last quarter. State Street Corp raised its position in Liberty Energy by 2.7% during the 3rd quarter. State Street Corp now owns 6,662,830 shares of the company’s stock worth $127,193,000 after buying an additional 176,887 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Liberty Energy during the 3rd quarter worth approximately $407,000. Institutional investors 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.