Liberty Energy (NYSE:LBRT) Given New $12.00 Price Target at Wells Fargo & Company

Liberty Energy (NYSE:LBRT - Get Free Report) had its price target boosted by investment analysts at Wells Fargo & Company from $11.00 to $12.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective suggests a potential downside of 2.64% from the company's current price.

LBRT has been the subject of several other research reports. JPMorgan Chase & Co. reduced their price target on shares of Liberty Energy from $16.00 to $13.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Stifel Nicolaus reduced their price target on shares of Liberty Energy from $23.00 to $22.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Barclays reduced their price target on shares of Liberty Energy from $17.00 to $16.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. TD Cowen upped their price objective on shares of Liberty Energy from $10.00 to $13.00 and gave the stock a "hold" rating in a research report on Monday, April 21st. Finally, Cowen reaffirmed a "hold" rating on shares of Liberty Energy in a report on Monday, April 21st. Eight analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $17.23.

Liberty Energy Stock Performance

LBRT stock traded up $0.41 on Thursday, hitting $12.33. The company's stock had a trading volume of 1,995,294 shares, compared to its average volume of 2,811,492. The firm has a 50 day moving average of $11.84 and a two-hundred day moving average of $16.00. Liberty Energy has a 1 year low of $9.50 and a 1 year high of $24.43. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 6.59 and a beta of 0.68. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 0.20.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its holdings in Liberty Energy by 604.9% in the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the company's stock valued at $47,000 after buying an additional 2,111 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings 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 valued at $47,000 after buying an additional 1,583 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Liberty Energy in the first quarter valued at about $50,000. Spire Wealth Management purchased a new position in Liberty Energy in the fourth quarter valued at about $60,000. Finally, Smartleaf Asset Management LLC increased its holdings in Liberty Energy by 176.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,423 shares of the company's stock valued at $67,000 after buying an additional 2,184 shares in the last quarter. 98.22% of the stock is owned by hedge funds and other 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.