Liberty Energy (NYSE:LBRT) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Liberty Energy from “hold” to “strong-buy”, adding to an already mostly bullish analyst backdrop. The stock now has a consensus rating of Moderate Buy with a consensus target price of $32.18.
• Liberty Energy’s latest earnings beat expectations, reporting $0.06 EPS versus an estimated loss and $1.02 billion in revenue, above analyst forecasts. Revenue also rose 4.5% year over year.
• Shares opened at $27.09, below the stock’s 52-week high of $34.48 but above its 52-week low of $9.90. The article also notes recent insider selling and heavy institutional ownership at 98.22%.

Liberty Energy (NYSE:LBRT - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other equities analysts have also commented on the stock. UBS Group reaffirmed a "buy" rating on shares of Liberty Energy in a research report on Tuesday, May 26th. Piper Sandler increased their target price on Liberty Energy from $32.00 to $38.00 and gave the stock an "overweight" rating in a research report on Monday, April 27th. Stifel Nicolaus lifted their target price on Liberty Energy from $28.00 to $37.00 and gave the company a "buy" rating in a report on Friday, April 24th. The Goldman Sachs Group reissued a "neutral" rating and set a $31.00 price target on shares of Liberty Energy in a research report on Wednesday, June 3rd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Liberty Energy in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Liberty Energy has a consensus rating of "Moderate Buy" and a consensus target price of $32.18.

Liberty Energy Price Performance

LBRT stock opened at $27.09 on Monday. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 29.77, a price-to-earnings-growth ratio of 2.38 and a beta of 0.51. The company has a quick ratio of 1.97, a current ratio of 2.21 and a debt-to-equity ratio of 0.75. Liberty Energy has a 52-week low of $9.90 and a 52-week high of $34.48. The stock's fifty day simple moving average is $30.37 and its 200-day simple moving average is $26.31.

Liberty Energy (NYSE:LBRT - Get Free Report) last released its earnings results on Wednesday, April 22nd. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.19. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $954.71 million. Liberty Energy had a return on equity of 1.41% and a net margin of 3.71%.The business's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.04 earnings per share. Equities research analysts expect that Liberty Energy will post 0.25 EPS for the current year.

Insider Transactions at Liberty Energy

In related news, Chairman William F. Kimble sold 7,350 shares of the stock in a transaction dated Tuesday, May 5th. The stock was 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 of the company's stock, valued at approximately $3,046,185.60. This represents a 7.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Michael Stock sold 3,333 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $31.00, for a total value of $103,323.00. Following the sale, the chief financial officer owned 783,710 shares of the company's stock, valued at approximately $24,295,010. This trade represents a 0.42% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 44,013 shares of company stock worth $1,414,929. Corporate insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Liberty Energy

A number of institutional investors have recently made changes to their positions in LBRT. Arrowstreet Capital Limited Partnership grew its holdings in Liberty Energy by 901.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,431,125 shares of the company's stock worth $127,616,000 after acquiring an additional 3,988,535 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Liberty Energy by 78.5% during the 3rd quarter. Franklin Resources Inc. now owns 8,575,840 shares of the company's stock worth $105,826,000 after purchasing an additional 3,771,724 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of Liberty Energy by 1,529.2% during the third quarter. Balyasny Asset Management L.P. now owns 2,753,357 shares of the company's stock valued at $33,976,000 after acquiring an additional 2,584,359 shares during the period. Millennium Management LLC grew its holdings in Liberty Energy by 184.7% in the 4th quarter. Millennium Management LLC now owns 3,287,466 shares of the company's stock worth $60,687,000 after buying an additional 2,132,685 shares in the last quarter. Finally, Sourcerock Group LLC bought a new position in Liberty Energy in the 2nd quarter valued at about $23,653,000. 98.22% of the stock is owned by institutional investors and hedge funds.

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. 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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