The Goldman Sachs Group Lowers Liberty Energy (NYSE:LBRT) Price Target to $14.00

Liberty Energy (NYSE:LBRT) had its price target lowered by stock analysts at The Goldman Sachs Group from $19.00 to $14.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 30.11% from the company’s previous close.

LBRT has been the subject of several other research reports. Royal Bank of Canada lowered Liberty Energy from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $24.00 to $19.00 in a report on Monday, March 24th. Morgan Stanley upgraded Liberty Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $20.00 to $25.00 in a report on Thursday, March 27th. Wells Fargo & Company reissued an “equal weight” rating and set a $11.00 target price (down from $20.00) on shares of Liberty Energy in a research note on Tuesday. Citigroup lifted their price target on shares of Liberty Energy from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Finally, Stifel Nicolaus increased their price target on shares of Liberty Energy from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Liberty Energy has an average rating of “Moderate Buy” and an average price target of $19.60.

Liberty Energy Trading Down 7.7 %

Shares of Liberty Energy stock traded down $0.90 on Thursday, hitting $10.76. 1,549,824 shares of the company’s stock traded hands, compared to its average volume of 2,698,594. The company has a fifty day moving average of $15.58 and a two-hundred day moving average of $17.97. Liberty Energy has a one year low of $9.50 and a one year high of $24.75. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.27 and a quick ratio of 0.97. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 5.70 and a beta of 1.18.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Wednesday, January 29th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. As a group, sell-side analysts expect that Liberty Energy will post 0.58 earnings per share for the current year.

Insider Buying and Selling at Liberty Energy

In related news, CFO Michael Stock sold 10,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $17.94, for a total value of $179,400.00. Following the completion of the sale, the chief financial officer now directly owns 717,292 shares of the company’s stock, valued at approximately $12,868,218.48. This represents a 1.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Liberty Energy

A number of institutional investors have recently bought and sold shares of the business. Quarry LP lifted 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 acquiring an additional 1,401 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Liberty Energy by 604.9% in the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the company’s stock worth $47,000 after acquiring an additional 2,111 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of Liberty Energy by 257.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,197 shares of the company’s stock valued at $47,000 after buying an additional 1,583 shares during the period. Spire Wealth Management purchased a new stake in Liberty Energy in the fourth quarter worth $60,000. Finally, Smartleaf Asset Management LLC increased its stake in Liberty Energy by 176.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,423 shares of the company’s stock worth $67,000 after buying an additional 2,184 shares during the period. 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.