Liberty Energy (NYSE:LBRT) Price Target Raised to $32.00

Liberty Energy (NYSE:LBRT) had its price objective lifted by research analysts at Barclays from $29.00 to $32.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential downside of 2.26% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. Morgan Stanley set a $36.00 price objective on shares of Liberty Energy in a report on Monday, April 27th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $32.00 price objective on shares of Liberty Energy in a report on Friday, April 24th. UBS Group increased their price objective on shares of Liberty Energy from $34.00 to $40.00 and gave the company a “buy” rating in a report on Friday, April 24th. The Goldman Sachs Group increased their price objective on shares of Liberty Energy from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, March 4th. Finally, Piper Sandler raised their price target on shares of Liberty Energy from $32.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.42.

Liberty Energy Stock Performance

Shares of NYSE:LBRT traded up $1.06 during midday trading on Friday, reaching $32.74. The company’s stock had a trading volume of 619,643 shares, compared to its average volume of 4,473,026. The firm has a market capitalization of $5.34 billion, a PE ratio of 35.98 and a beta of 0.56. Liberty Energy has a twelve month low of $9.90 and a twelve month high of $34.42. The stock has a fifty day moving average of $29.40 and a 200 day moving average of $23.24. The company has a quick ratio of 1.97, a current ratio of 2.21 and a debt-to-equity ratio of 0.75.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.19. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $954.71 million. Liberty Energy had a net margin of 3.71% and a return on equity of 1.41%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.04 earnings per share. On average, equities analysts expect that Liberty Energy will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman William F. Kimble sold 7,350 shares of Liberty Energy stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $33.92, for a total value of $249,312.00. Following the completion of the transaction, the chairman owned 89,805 shares in the company, valued at approximately $3,046,185.60. The trade was a 7.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Arjun N. Murti purchased 9,696 shares of the stock in a transaction on Tuesday, February 17th. The shares were purchased at an average price of $25.79 per share, with a total value of $250,059.84. Following the acquisition, the director directly owned 27,568 shares in the company, valued at $710,978.72. This represents a 54.25% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 2.00% of the company’s stock.

Institutional Trading of Liberty Energy

Several institutional investors have recently modified their holdings of LBRT. Franklin Resources Inc. raised its position in Liberty Energy by 78.5% in the 3rd quarter. Franklin Resources Inc. now owns 8,575,840 shares of the company’s stock valued at $105,826,000 after purchasing an additional 3,771,724 shares during the last quarter. Balyasny Asset Management L.P. raised its position in Liberty Energy by 1,529.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,753,357 shares of the company’s stock worth $33,976,000 after buying an additional 2,584,359 shares during the last quarter. Millennium Management LLC raised its position in Liberty Energy by 184.7% during the 4th quarter. Millennium Management LLC now owns 3,287,466 shares of the company’s stock worth $60,687,000 after buying an additional 2,132,685 shares during the last quarter. Sourcerock Group LLC purchased a new position in Liberty Energy during the 2nd quarter worth $23,653,000. Finally, Eventide Asset Management LLC purchased a new position in Liberty Energy during the 4th quarter worth $36,394,000. Hedge funds and other institutional investors 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.