Liberty Energy Inc. (NYSE:LBRT) Stock Has Consensus Price Target of $27.21 According to Brokerages

Liberty Energy Inc. (NYSE:LBRT) has been assigned an average rating of “Moderate Buy” from the fourteen analysts that are currently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $27.12.

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada lowered their price objective on shares of Liberty Energy from $34.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Friday, July 24th. The Goldman Sachs Group set a $23.00 target price on shares of Liberty Energy in a research report on Friday, August 7th. Scotiabank assumed coverage on shares of Liberty Energy in a report on Tuesday, September 29th. They set a “sector perform” rating and a $19.00 target price for the company. Wall Street Zen cut shares of Liberty Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, UBS Group decreased their price target on shares of Liberty Energy from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, September 30th.

Insider Activity

In other news, CFO Michael Stock sold 6,666 shares of Liberty Energy stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $19.84, for a total transaction of $132,253.44. Following the transaction, the chief financial officer directly owned 760,379 shares of the company’s stock, valued at $15,085,919.36. The trade was a 0.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Arjun Murti acquired 14,053 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were bought at an average price of $17.79 per share, with a total value of $250,002.87. Following the completion of the purchase, the director owned 41,621 shares in the company, valued at $740,437.59. This trade represents a 50.98% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 16,665 shares of company stock worth $319,301 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Liberty Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Readystate Asset Management LP bought a new stake in Liberty Energy in the second quarter worth $5,660,000. Engineers Gate Manager LP purchased a new position in Liberty Energy during the second quarter worth $3,099,000. Bank of New York Mellon Corp purchased a new position in Liberty Energy during the second quarter worth $61,185,000. Arlington Capital Management Inc. bought a new position in Liberty Energy during the second quarter valued at $3,821,000. Finally, Louisiana State Employees Retirement System bought a new position in Liberty Energy during the first quarter valued at $2,071,000. Institutional investors own 98.22% of the company’s stock.

Liberty Energy Stock Up 3.1%

LBRT stock opened at $17.11 on Friday. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 118.57, a P/E/G ratio of 2.80 and a beta of 0.71. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.75 and a current ratio of 1.99. The business’s 50-day moving average is $19.50 and its two-hundred day moving average is $24.53. Liberty Energy has a fifty-two week low of $14.76 and a fifty-two week high of $34.48.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Liberty Energy had a return on equity of 1.14% and a net margin of 2.92%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the company posted $0.12 EPS. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, analysts forecast that Liberty Energy will post 0.30 earnings per share for the current year.

Liberty Energy Company Profile

Liberty Energy Inc is an oilfield services company that provides hydraulic fracturing and related completion services to exploration and production companies. Its operations support the development of unconventional oil and natural gas wells, primarily in North America.

The company’s services and technologies include pressure pumping, well stimulation, wireline services, proppant and logistics solutions, and digital tools designed to improve completion performance and operational efficiency.