Liberty Energy (NYSE:LBRT) Stock Rating Lowered by Wall Street Zen

Liberty Energy (NYSE:LBRT) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Sunday.

LBRT has been the topic of a number of other research reports. Stifel Nicolaus cut their target price on shares of Liberty Energy from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, July 28th. Piper Sandler cut their target price on shares of Liberty Energy from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, August 14th. Barclays reissued an “equal weight” rating and issued a $12.00 target price (down previously from $14.00) on shares of Liberty Energy in a research note on Monday, October 13th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Liberty Energy in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $14.75.

Liberty Energy Stock Performance

NYSE:LBRT opened at $15.91 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.32 and a debt-to-equity ratio of 0.12. The company has a market cap of $2.58 billion, a P/E ratio of 14.20 and a beta of 0.74. Liberty Energy has a fifty-two week low of $9.50 and a fifty-two week high of $23.58. The firm’s 50 day moving average is $11.72 and its two-hundred day moving average is $11.88.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Thursday, October 16th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). The company had revenue of $947.40 million for the quarter, compared to analysts’ expectations of $967.05 million. Liberty Energy had a return on equity of 1.69% and a net margin of 4.76%.The business’s revenue for the quarter was down 16.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 EPS. Analysts expect that Liberty Energy will post 0.58 EPS for the current year.

Institutional Investors Weigh In On Liberty Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LBRT. Sourcerock Group LLC purchased a new stake in Liberty Energy during the 2nd quarter worth $23,653,000. Vanguard Group Inc. grew its holdings in Liberty Energy by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 18,443,909 shares of the company’s stock worth $291,967,000 after acquiring an additional 1,128,491 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in Liberty Energy by 285.9% during the 2nd quarter. Bridgeway Capital Management LLC now owns 1,114,559 shares of the company’s stock worth $12,795,000 after acquiring an additional 825,759 shares in the last quarter. Callodine Capital Management LP grew its holdings in Liberty Energy by 203.3% during the 2nd quarter. Callodine Capital Management LP now owns 1,057,000 shares of the company’s stock worth $12,134,000 after acquiring an additional 708,453 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Liberty Energy by 10.6% during the 2nd quarter. American Century Companies Inc. now owns 6,093,383 shares of the company’s stock worth $69,952,000 after acquiring an additional 584,774 shares in the last quarter. 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.