TD Cowen Issues Positive Forecast for Liberty Energy (NYSE:LBRT) Stock Price

Liberty Energy (NYSE:LBRT) had its price target hoisted by TD Cowen from $15.00 to $19.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s target price suggests a potential upside of 0.40% from the stock’s current price.

LBRT has been the topic of a number of other research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Liberty Energy in a report on Monday, December 29th. Citigroup raised Liberty Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $12.00 to $21.00 in a report on Tuesday, October 21st. Wall Street Zen lowered Liberty Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Zacks Research raised Liberty Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, December 15th. Finally, Piper Sandler set a $16.00 target price on Liberty Energy and gave the company a “neutral” rating in a research note on Monday, October 20th. Five research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.00.

Liberty Energy Stock Down 0.4%

Shares of NYSE:LBRT traded down $0.08 during trading on Wednesday, hitting $18.93. The company’s stock had a trading volume of 1,640,603 shares, compared to its average volume of 3,630,984. The company has a market capitalization of $3.07 billion, a PE ratio of 16.93 and a beta of 0.45. Liberty Energy has a fifty-two week low of $9.50 and a fifty-two week high of $23.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.32. The stock’s 50-day moving average price is $18.02 and its two-hundred day moving average price is $14.19.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Thursday, October 16th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.05). The company had revenue of $947.40 million for the quarter, compared to analyst estimates of $967.05 million. Liberty Energy had a return on equity of 1.69% and a net margin of 4.76%.Liberty Energy’s revenue was down 16.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 earnings per share. As a group, sell-side analysts expect that Liberty Energy will post 0.58 EPS for the current year.

Hedge Funds Weigh In On Liberty Energy

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in Liberty Energy by 42.3% during the fourth quarter. GAMMA Investing LLC now owns 4,360 shares of the company’s stock valued at $80,000 after purchasing an additional 1,297 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Liberty Energy by 23.4% in the third quarter. JPMorgan Chase & Co. now owns 1,876,443 shares of the company’s stock valued at $23,155,000 after buying an additional 355,576 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Liberty Energy by 1,163.9% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,855 shares of the company’s stock valued at $48,000 after acquiring an additional 3,550 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of Liberty Energy during the 3rd quarter valued at $208,000. Finally, Advisory Services Network LLC bought a new stake in shares of Liberty Energy during the 3rd quarter worth $35,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

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.