Liberty Energy (NYSE:LBRT) Given New $23.00 Price Target at Barclays

Liberty Energy (NYSE:LBRT) had its target price dropped by equities researchers at Barclays from $27.00 to $23.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 44.21% from the stock’s current price.

A number of other equities analysts also recently weighed in on LBRT. UBS Group cut their price target on shares of Liberty Energy from $31.00 to $27.00 and set a “buy” rating on the stock in a report on Friday. Citigroup reaffirmed a “buy” rating on shares of Liberty Energy in a research report on Monday. Piper Sandler set a $27.00 target price on shares of Liberty Energy and gave the company an “overweight” rating in a research note on Friday. Weiss Ratings cut shares of Liberty Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday. Finally, TD Cowen reduced their target price on shares of Liberty Energy from $24.00 to $22.00 and set a “hold” rating for the company in a research report on Friday. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.38.

Liberty Energy Stock Performance

Shares of Liberty Energy stock traded up $0.36 during mid-day trading on Monday, hitting $15.95. 559,079 shares of the stock were exchanged, compared to its average volume of 4,283,010. Liberty Energy has a 12 month low of $14.76 and a 12 month high of $34.48. The company has a 50-day simple moving average of $19.06 and a 200 day simple moving average of $24.19. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.09 and a current ratio of 1.30. The company has a market capitalization of $2.60 billion, a P/E ratio of 66.52, a P/E/G ratio of 2.82 and a beta of 0.71.

Liberty Energy (NYSE:LBRT) last announced its earnings results on Wednesday, October 21st. The company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. Liberty Energy had a return on equity of 2.13% and a net margin of 0.91%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the business earned ($0.06) EPS. The company’s revenue was up 26.3% compared to the same quarter last year. Sell-side analysts anticipate that Liberty Energy will post 0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Liberty Energy

In other news, CFO Michael Stock sold 6,666 shares of the business’s 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 completion of the transaction, the chief financial officer owned 760,379 shares of the company’s stock, valued at approximately $15,085,919.36. The trade was a 0.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Arjun Murti acquired 14,053 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were purchased at an average cost of $17.79 per share, for a total transaction of $250,002.87. Following the completion of the acquisition, the director owned 41,621 shares in the company, valued at $740,437.59. This represents a 50.98% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders sold 16,665 shares of company stock valued at $319,301. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in Liberty Energy by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 9,233,668 shares of the company’s stock worth $265,931,000 after buying an additional 431,269 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Liberty Energy by 901.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,431,125 shares of the company’s stock valued at $127,616,000 after acquiring an additional 3,988,535 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Liberty Energy during the 2nd quarter worth approximately $61,185,000. Sei Investments Co. grew its holdings in shares of Liberty Energy by 54.3% during the 1st quarter. Sei Investments Co. now owns 983,706 shares of the company’s stock worth $28,331,000 after acquiring an additional 346,239 shares during the period. Finally, Squarepoint Ops LLC grew its holdings in shares of Liberty Energy by 23.8% during the 2nd quarter. Squarepoint Ops LLC now owns 1,051,488 shares of the company’s stock worth $27,538,000 after acquiring an additional 201,839 shares during the period. Institutional investors own 98.22% of the company’s stock.

About Liberty Energy

Liberty Energy Inc is an oilfield services company that provides completion and production services to exploration and production companies. Its primary business is hydraulic fracturing, a well-stimulation technique used to improve the flow of oil and natural gas from unconventional reservoirs.

The company also offers wireline services, well diagnostics, frac data analysis, engineering support, and related technologies designed to help customers plan, execute, and evaluate well-completion operations.