Liberty Energy (NYSE:LBRT) Downgraded by Zacks Research to Hold

Key Points

• Zacks Research downgraded Liberty Energy (NYSE:LBRT) from strong-buy to hold, even as the broader analyst view remains moderately positive with a consensus rating of Moderate Buy and an average price target of $32.09.
• Liberty Energy’s shares were trading at $25.22, below recent analyst price targets, while the company reported Q2 EPS of $0.09, edging past expectations of $0.08 but down from $0.12 a year earlier.
• Recent insider activity showed stock sales, including by CFO Michael Stock and Chairman William F. Kimble, with insiders selling 54,012 shares worth about $1.67 million over the last 90 days.

Liberty Energy (NYSE:LBRT - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Tuesday,Zacks.com reports.

A number of other research analysts also recently weighed in on LBRT. UBS Group reiterated a "buy" rating on shares of Liberty Energy in a research report on Friday, June 26th. Weiss Ratings restated a "hold (c)" rating on shares of Liberty Energy in a research report on Friday, May 1st. Royal Bank Of Canada restated a "sector perform" rating and issued a $32.00 price target on shares of Liberty Energy in a research note on Friday, April 24th. Piper Sandler upped their price target on Liberty Energy from $32.00 to $38.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $31.00 price target on shares of Liberty Energy in a research report on Wednesday, June 3rd. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Liberty Energy presently has a consensus rating of "Moderate Buy" and an average price target of $32.09.

Liberty Energy Price Performance

Shares of NYSE LBRT opened at $25.22 on Tuesday. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 2.03 and a beta of 0.54. Liberty Energy has a 12 month low of $9.90 and a 12 month high of $34.48. The firm's 50 day simple moving average is $27.78 and its 200-day simple moving average is $27.21. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.21 and a quick ratio of 1.97.

Liberty Energy (NYSE:LBRT - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. Liberty Energy had a net margin of 3.71% and a return on equity of 1.41%. During the same period in the previous year, the company posted $0.12 earnings per share. Analysts expect that Liberty Energy will post 0.28 EPS for the current year.

Insider Buying and Selling

In other Liberty Energy news, CFO Michael Stock sold 9,999 shares of the firm's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $25.89, for a total value of $258,874.11. Following the transaction, the chief financial officer owned 773,711 shares in the company, valued at approximately $20,031,377.79. This trade represents a 1.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman William F. Kimble sold 7,350 shares of the firm's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $33.92, for a total value of $249,312.00. Following the completion of the transaction, the chairman owned 89,805 shares in the company, valued at $3,046,185.60. The trade was a 7.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 54,012 shares of company stock worth $1,673,803 over the last ninety days. Corporate insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On Liberty Energy

A number of hedge funds have recently modified their holdings of the business. Root Financial Partners LLC boosted its position in Liberty Energy by 79.6% during the first quarter. Root Financial Partners LLC now owns 914 shares of the company's stock worth $26,000 after acquiring an additional 405 shares during the last quarter. Valued Wealth Advisors LLC purchased a new stake in Liberty Energy during the 1st quarter valued at about $26,000. Summit Securities Group LLC acquired a new stake in Liberty Energy in the 1st quarter valued at about $28,000. Los Angeles Capital Management LLC acquired a new stake in Liberty Energy in the 4th quarter valued at about $29,000. Finally, Kelleher Financial Advisors purchased a new position in Liberty Energy in the 3rd quarter worth approximately $29,000. 98.22% of the stock is currently owned by institutional investors and hedge funds.

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. As of as of December 31, 2023, the company owned and operated a fleet of approximately 40 active hydraulic fracturing; and two sand mines in the Permian Basin.

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