Liberty Energy (NYSE:LBRT) Price Target Raised to $23.00 at Bank of America

Liberty Energy (NYSE:LBRT - Get Free Report) had its target price lifted by Bank of America from $20.00 to $23.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a "neutral" rating on the stock. Bank of America's price target suggests a potential upside of 4.00% from the stock's previous close.

A number of other equities analysts have also recently weighed in on LBRT. Piper Sandler lifted their price target on Liberty Energy from $27.00 to $28.00 and gave the stock an "overweight" rating in a research note on Friday, January 26th. Wells Fargo & Company decreased their target price on shares of Liberty Energy from $25.00 to $24.00 and set an "overweight" rating for the company in a report on Thursday, December 21st. Finally, Morgan Stanley boosted their price target on shares of Liberty Energy from $23.00 to $24.00 and gave the company an "equal weight" rating in a report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.67.

Liberty Energy Price Performance

LBRT stock traded down $0.35 on Monday, hitting $22.12. 2,097,840 shares of the company's stock traded hands, compared to its average volume of 2,957,551. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 7.00, a P/E/G ratio of 1.09 and a beta of 1.85. Liberty Energy has a 1-year low of $11.62 and a 1-year high of $23.23. The company has a current ratio of 1.49, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average of $21.00 and a 200-day moving average of $19.59.

Liberty Energy (NYSE:LBRT - Get Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.03). The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.08 billion. Liberty Energy had a net margin of 11.72% and a return on equity of 32.28%. Liberty Energy's quarterly revenue was down 12.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 EPS. On average, analysts forecast that Liberty Energy will post 2.64 EPS for the current fiscal year.

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, insider R Sean Elliott sold 20,000 shares of the business's stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total value of $410,000.00. Following the transaction, the insider now owns 218,530 shares in the company, valued at $4,479,865. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider R Sean Elliott sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total value of $410,000.00. Following the transaction, the insider now owns 218,530 shares in the company, valued at $4,479,865. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William F. Kimble sold 12,459 shares of the firm's stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $21.55, for a total transaction of $268,491.45. Following the transaction, the director now directly owns 69,963 shares in the company, valued at approximately $1,507,702.65. The disclosure for this sale can be found here. Insiders sold 98,459 shares of company stock valued at $2,077,491 in the last quarter. Company insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On Liberty Energy

Large investors have recently bought and sold shares of the business. American Century Companies Inc. boosted its position in Liberty Energy by 12.4% during the third quarter. American Century Companies Inc. now owns 2,241,076 shares of the company's stock worth $41,505,000 after purchasing an additional 247,074 shares during the period. Public Sector Pension Investment Board bought a new stake in shares of Liberty Energy during the 3rd quarter worth $3,549,000. Envestnet Asset Management Inc. boosted its holdings in shares of Liberty Energy by 37.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 237,090 shares of the company's stock worth $4,391,000 after buying an additional 65,062 shares during the period. Gendell Jeffrey L grew its stake in Liberty Energy by 27.4% in the 3rd quarter. Gendell Jeffrey L now owns 891,452 shares of the company's stock valued at $16,510,000 after buying an additional 191,452 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Liberty Energy by 455.5% in the 3rd quarter. Invesco Ltd. now owns 1,536,812 shares of the company's stock worth $28,462,000 after acquiring an additional 1,260,142 shares during the period. 98.22% of the stock is currently owned by institutional investors.

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.