Liberty Energy (NYSE:LBRT) Price Target Cut to $23.00 by Analysts at Barclays

Key Points

• Barclays cut Liberty Energy’s price target from $27 to $23 while maintaining an “overweight” rating, implying 44.21% upside from the prior close.
• Analyst sentiment remains mixed but leans positive: the stock has a consensus “Moderate Buy” rating and an average price target of $26.38, despite recent target reductions and downgrades.
• Liberty Energy reported quarterly revenue of $1.20 billion, up 26.3% year over year, and earnings of $0.06 per share in line with estimates; shares recently traded at $15.95, near their 52-week low.

Liberty Energy (NYSE:LBRT - Get Free Report) had its target price reduced by investment analysts at Barclays from $27.00 to $23.00 in a report issued on Monday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price objective would indicate a potential upside of 44.21% from the stock's previous close.

Other research analysts also recently issued research reports about the company. UBS Group dropped their price target on Liberty Energy from $31.00 to $27.00 and set a "buy" rating for the company in a research note on Friday. Piper Sandler set a $27.00 price objective on shares of Liberty Energy and gave the stock an "overweight" rating in a research note on Friday. The Goldman Sachs Group set a $23.00 target price on shares of Liberty Energy in a report on Friday, August 7th. Zacks Research lowered shares of Liberty Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 21st. Finally, Wall Street Zen cut shares of Liberty Energy from a "sell" rating to a "strong sell" rating in a research report on Saturday. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $26.38.

Liberty Energy Stock Performance

NYSE LBRT traded up $0.36 during trading on Monday, reaching $15.95. 559,079 shares of the company's stock were exchanged, compared to its average volume of 4,283,010. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.30 and a quick ratio of 1.09. The business has a 50 day moving average price of $19.06 and a 200-day moving average price of $24.19. The stock has a market capitalization of $2.60 billion, a P/E ratio of 66.52, a PEG ratio of 2.82 and a beta of 0.71. Liberty Energy has a fifty-two week low of $14.76 and a fifty-two week high of $34.48.

Liberty Energy (NYSE:LBRT - Get Free Report) last posted its earnings results on Wednesday, October 21st. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.06. Liberty Energy had a net margin of 0.91% and a return on equity of 2.13%. The company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter last year, the company posted ($0.06) EPS. Liberty Energy's quarterly revenue was up 26.3% compared to the same quarter last year. Sell-side analysts forecast that Liberty Energy will post 0.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Liberty Energy news, Director Arjun N. Murti acquired 14,053 shares of Liberty Energy stock in a transaction that occurred on Tuesday, July 28th. The shares were acquired at an average cost of $17.79 per share, with a total value of $250,002.87. Following the completion of the purchase, the director directly owned 41,621 shares of the company's stock, valued at $740,437.59. This represents a 50.98% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Stock sold 6,666 shares of Liberty Energy stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $19.84, for a total value of $132,253.44. Following the completion of the transaction, the chief financial officer owned 760,379 shares in the company, valued at approximately $15,085,919.36. This represents a 0.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 16,665 shares of company stock valued at $319,301 in the last three months. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership grew its holdings in 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 buying an additional 3,988,535 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Liberty Energy during the 2nd quarter valued at $61,185,000. Dimensional Fund Advisors LP lifted its stake in Liberty Energy by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,233,668 shares of the company's stock valued at $265,931,000 after acquiring an additional 431,269 shares in the last quarter. Sei Investments Co. lifted its stake in Liberty Energy by 54.3% during the 1st quarter. Sei Investments Co. now owns 983,706 shares of the company's stock valued at $28,331,000 after acquiring an additional 346,239 shares in the last quarter. Finally, Castleark Management LLC purchased a new position in Liberty Energy during the 1st quarter worth $7,626,000. Institutional investors and hedge funds own 98.22% of the company's stock.

About Liberty Energy

Liberty Energy Inc is an oilfield services company that provides completion and production services to exploration and production companies. Its primary business is hydraulic fracturing, a well-stimulation technique used to improve the flow of oil and natural gas from unconventional reservoirs.

The company also offers wireline services, well diagnostics, frac data analysis, engineering support, and related technologies designed to help customers plan, execute, and evaluate well-completion operations.

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