Liberty Energy (NYSE:LBRT) Price Target Cut to $22.00 by Analysts at Stifel Nicolaus

Liberty Energy (NYSE:LBRT - Get Free Report) had its price target dropped by analysts at Stifel Nicolaus from $23.00 to $22.00 in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' price target would suggest a potential upside of 80.62% from the company's previous close.

Several other research analysts have also recently issued reports on the company. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $11.00 price target (down previously from $20.00) on shares of Liberty Energy in a report on Tuesday, April 8th. Morgan Stanley upgraded Liberty Energy from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $20.00 to $25.00 in a report on Thursday, March 27th. Royal Bank of Canada downgraded Liberty Energy from an "outperform" rating to a "sector perform" rating and reduced their target price for the company from $24.00 to $19.00 in a report on Monday, March 24th. Seaport Res Ptn raised Liberty Energy from a "hold" rating to a "strong-buy" rating in a research note on Sunday, January 5th. Finally, Barclays reduced their price objective on shares of Liberty Energy from $21.00 to $17.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $18.05.

Liberty Energy Price Performance

Shares of LBRT traded up $0.01 during midday trading on Tuesday, reaching $12.18. The stock had a trading volume of 1,879,402 shares, compared to its average volume of 2,743,966. The firm's 50 day moving average price is $14.13 and its 200-day moving average price is $17.28. Liberty Energy has a 52 week low of $9.50 and a 52 week high of $24.75. The company has a market capitalization of $1.97 billion, a P/E ratio of 6.51 and a beta of 1.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.27 and a quick ratio of 0.97.

Liberty Energy (NYSE:LBRT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The company had revenue of $977.46 million during the quarter, compared to the consensus estimate of $960.64 million. Liberty Energy had a net margin of 7.32% and a return on equity of 14.28%. During the same period in the prior year, the company earned $0.48 EPS. On average, analysts forecast that Liberty Energy will post 0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michael Stock sold 10,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $17.94, for a total transaction of $179,400.00. Following the completion of the sale, the chief financial officer now directly owns 717,292 shares of the company's stock, valued at $12,868,218.48. This trade represents a 1.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On Liberty Energy

A number of hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its position in Liberty Energy by 197.9% in the third quarter. Barclays PLC now owns 286,661 shares of the company's stock worth $5,471,000 after acquiring an additional 190,445 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Liberty Energy by 11.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 31,077 shares of the company's stock valued at $590,000 after purchasing an additional 3,160 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Liberty Energy in the third quarter worth $403,000. Tidal Investments LLC increased its position in Liberty Energy by 14.6% during the third quarter. Tidal Investments LLC now owns 14,299 shares of the company's stock worth $273,000 after buying an additional 1,817 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in Liberty Energy by 2.4% during the third quarter. Franklin Resources Inc. now owns 2,631,360 shares of the company's stock valued at $53,706,000 after buying an additional 61,909 shares in the last quarter. Institutional investors and hedge funds 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.