Stifel Nicolaus Has Lowered Expectations for Liberty Energy (NYSE:LBRT) Stock Price

Key Points

• Stifel Nicolaus has reduced Liberty Energy's price target from $20.00 to $19.00, while maintaining a "buy" rating, indicating a potential upside of 44.10% from the stock's current price.
• Analysts have varied opinions on Liberty Energy, with target price estimates ranging from $12.00 to $19.00, and a consensus rating of "Moderate Buy".
• Liberty Energy recently reported a net revenue of $1.04 billion for the quarter, falling short of expectations, with earnings per share of $0.12.

Liberty Energy (NYSE:LBRT - Get Free Report) had its target price dropped by Stifel Nicolaus from $20.00 to $19.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' target price would indicate a potential upside of 63.65% from the stock's current price.

A number of other equities research analysts have also recently commented on the stock. Morgan Stanley dropped their target price on shares of Liberty Energy from $25.00 to $20.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Barclays lowered their price objective on shares of Liberty Energy from $17.00 to $16.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen downgraded Liberty Energy from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. TD Cowen increased their target price on Liberty Energy from $10.00 to $13.00 and gave the company a "hold" rating in a research note on Monday, April 21st. Finally, Wells Fargo & Company raised their price objective on Liberty Energy from $11.00 to $12.00 and gave the company an "equal weight" rating in a research note on Thursday, June 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Liberty Energy has an average rating of "Moderate Buy" and a consensus target price of $15.15.

Liberty Energy Price Performance

LBRT stock traded down $0.73 during midday trading on Monday, reaching $11.61. The stock had a trading volume of 2,952,198 shares, compared to its average volume of 3,496,788. Liberty Energy has a 52-week low of $9.50 and a 52-week high of $23.58. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.18. The company's fifty day simple moving average is $12.27 and its 200 day simple moving average is $14.21. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 8.93 and a beta of 0.66.

Liberty Energy (NYSE:LBRT - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). Liberty Energy had a net margin of 5.29% and a return on equity of 6.01%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. The business's revenue was down 10.1% compared to the same quarter last year. As a group, sell-side analysts predict that Liberty Energy will post 0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Liberty Energy

Several large investors have recently modified their holdings of LBRT. CIBC Private Wealth Group LLC lifted its stake in Liberty Energy by 257.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,197 shares of the company's stock worth $47,000 after purchasing an additional 1,583 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Liberty Energy in the second quarter worth approximately $48,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Liberty Energy during the first quarter valued at approximately $50,000. GAMMA Investing LLC increased its holdings in Liberty Energy by 281.1% during the second quarter. GAMMA Investing LLC now owns 4,329 shares of the company's stock valued at $50,000 after buying an additional 3,193 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Liberty Energy by 45.3% in 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.