JPMorgan Chase & Co. Has Lowered Expectations for Liberty Energy (NYSE:LBRT) Stock Price

Liberty Energy (NYSE:LBRT) had its price target lowered by equities research analysts at JPMorgan Chase & Co. from $16.00 to $13.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 11.35% from the stock’s previous close.

Several other equities analysts have also commented on the stock. TD Cowen increased their price objective on shares of Liberty Energy from $10.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, April 21st. Morgan Stanley lowered their price objective on shares of Liberty Energy from $25.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Barclays dropped their price objective on shares of Liberty Energy from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Cowen reissued a “hold” rating on shares of Liberty Energy in a report on Monday, April 21st. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $11.00 price objective (down from $20.00) on shares of Liberty Energy in a research note on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Liberty Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.14.

Liberty Energy Stock Down 1.3%

Shares of NYSE LBRT traded down $0.16 during trading hours on Wednesday, hitting $11.68. 322,062 shares of the stock were exchanged, compared to its average volume of 2,768,310. Liberty Energy has a 12 month low of $9.50 and a 12 month high of $24.75. The firm has a fifty day moving average price of $12.41 and a 200-day moving average price of $16.32. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 0.20. The company has a market cap of $1.89 billion, a PE ratio of 6.25 and a beta of 0.71.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings data on Wednesday, April 16th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. The firm had revenue of $977.46 million during the quarter, compared to analyst estimates of $960.64 million. During the same quarter in the prior year, the business posted $0.48 EPS. On average, sell-side analysts expect that Liberty Energy will post 0.58 EPS for the current year.

Institutional Investors Weigh In On Liberty Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Xponance Inc. lifted its stake in Liberty Energy by 7.0% in the 4th quarter. Xponance Inc. now owns 11,263 shares of the company’s stock valued at $224,000 after buying an additional 733 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of Liberty Energy by 1.5% in the first quarter. Yousif Capital Management LLC now owns 62,536 shares of the company’s stock valued at $990,000 after acquiring an additional 914 shares in the last quarter. Cooper Financial Group boosted its stake in shares of Liberty Energy by 10.9% in the first quarter. Cooper Financial Group now owns 11,641 shares of the company’s stock worth $184,000 after acquiring an additional 1,145 shares during the last quarter. Empirical Finance LLC boosted its stake in shares of Liberty Energy by 2.2% in the fourth quarter. Empirical Finance LLC now owns 54,149 shares of the company’s stock worth $1,077,000 after acquiring an additional 1,185 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Liberty Energy by 45.3% during the first quarter. PNC Financial Services Group Inc. now owns 4,465 shares of the company’s stock worth $71,000 after purchasing an additional 1,392 shares in the last quarter. Hedge funds and other 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.