Liberty Energy (NYSE:LBRT) Stock Picked Up by Analysts at Scotiabank

Analysts at Scotiabank assumed coverage on shares of Liberty Energy (NYSE:LBRT) in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage set a “sector perform” rating and a $19.00 price target on the stock. Scotiabank’s price objective would suggest a potential upside of 0.29% from the company’s previous close.

Several other analysts have also recently weighed in on the company. Stifel Nicolaus reduced their price target on Liberty Energy from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, July 24th. Piper Sandler dropped their price objective on shares of Liberty Energy from $34.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, August 27th. Barclays upgraded shares of Liberty Energy from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $23.00 to $27.00 in a research report on Monday. The Goldman Sachs Group set a $23.00 target price on shares of Liberty Energy in a report on Friday, August 7th. Finally, Morgan Stanley set a $32.00 price target on shares of Liberty Energy in a research note on Friday, July 24th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.25.

Liberty Energy Trading Up 0.0%

NYSE LBRT opened at $18.95 on Tuesday. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 2.59 and a beta of 0.61. Liberty Energy has a twelve month low of $11.52 and a twelve month high of $34.48. The company has a quick ratio of 1.75, a current ratio of 1.99 and a debt-to-equity ratio of 0.74. The business’s fifty day moving average is $19.83 and its 200 day moving average is $25.74.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Wednesday, July 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Liberty Energy had a return on equity of 1.14% and a net margin of 2.92%.The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.12 EPS. As a group, sell-side analysts expect that Liberty Energy will post 0.35 EPS for the current fiscal year.

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, CFO Michael Stock sold 9,999 shares of Liberty Energy stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $25.89, for a total value of $258,874.11. Following the completion of the sale, the chief financial officer directly owned 773,711 shares of the company’s stock, valued at approximately $20,031,377.79. The trade was a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Arjun N. Murti acquired 14,053 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were bought at an average price of $17.79 per share, for a total transaction of $250,002.87. Following the acquisition, the director directly owned 41,621 shares of the company’s stock, valued at approximately $740,437.59. This trade represents a 50.98% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have sold 19,998 shares of company stock worth $450,955. 2.00% of the stock is owned by insiders.

Institutional Trading of Liberty Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in Liberty Energy by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 9,233,668 shares of the company’s stock worth $265,931,000 after acquiring an additional 431,269 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Liberty Energy by 901.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,431,125 shares of the company’s stock worth $127,616,000 after purchasing an additional 3,988,535 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Liberty Energy during the second quarter worth approximately $61,185,000. Eventide Asset Management LLC bought a new position in shares of Liberty Energy in the 4th quarter worth $36,394,000. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of Liberty Energy by 6.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,238,961 shares of the company’s stock worth $22,871,000 after purchasing an additional 69,780 shares in the last quarter. 98.22% of the stock is owned by institutional investors.

About Liberty Energy

Liberty Energy Inc is an energy services company that provides specialized equipment, technology and services used in the development of onshore oil and natural gas resources. The company primarily supports exploration and production companies during the well-completion process, with an emphasis on hydraulic fracturing and related operations.

Its services and products include hydraulic fracturing, wireline services, proppant logistics, frac-related equipment, field engineering and operational support.