Liberty Energy (NYSE:LBRT) Now Covered by Analysts at The Goldman Sachs Group

Equities researchers at The Goldman Sachs Group started coverage on shares of Liberty Energy (NYSE:LBRT - Get Free Report) in a report issued on Friday. The brokerage set a "neutral" rating and a $19.00 price target on the stock. The Goldman Sachs Group's price target suggests a potential upside of 0.16% from the company's current price.

A number of other research analysts have also recently issued reports on the company. Evercore ISI upgraded Liberty Energy to a "strong-buy" rating in a research note on Thursday, October 17th. Atb Cap Markets raised Liberty Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Citigroup cut shares of Liberty Energy from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $25.00 to $19.00 in a research note on Friday, October 18th. Wells Fargo & Company reduced their price objective on shares of Liberty Energy from $25.00 to $24.00 and set an "overweight" rating for the company in a research note on Friday, October 18th. Finally, Royal Bank of Canada dropped their target price on shares of Liberty Energy from $26.00 to $23.00 and set an "outperform" rating on the stock in a research note on Friday, October 18th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $22.50.

Liberty Energy Stock Down 1.0 %

Shares of NYSE:LBRT traded down $0.20 during midday trading on Friday, reaching $18.97. The company's stock had a trading volume of 2,347,548 shares, compared to its average volume of 2,551,563. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average of $18.30 and a 200-day moving average of $20.03. The firm has a market capitalization of $3.10 billion, a P/E ratio of 9.04 and a beta of 1.71. Liberty Energy has a 12-month low of $16.57 and a 12-month high of $24.75.

Liberty Energy (NYSE:LBRT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.55 by ($0.10). Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter last year, the company posted $0.85 EPS. Liberty Energy's revenue for the quarter was down 6.4% compared to the same quarter last year. On average, research analysts anticipate that Liberty Energy will post 1.72 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Michael Stock sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $21.01, for a total transaction of $105,050.00. Following the completion of the sale, the chief financial officer now directly owns 745,207 shares in the company, valued at approximately $15,656,799.07. The trade was a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher A. Wright sold 2,936 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $19.16, for a total transaction of $56,253.76. Following the completion of the transaction, the chief executive officer now owns 2,543,877 shares in the company, valued at $48,740,683.32. The trade was a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 112,973 shares of company stock valued at $2,144,485. Company insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On Liberty Energy

Several hedge funds and other institutional investors have recently modified their holdings of LBRT. CWM LLC lifted its holdings in Liberty Energy by 43.3% during the second quarter. CWM LLC now owns 6,213 shares of the company's stock valued at $130,000 after purchasing an additional 1,876 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Liberty Energy by 216.3% during the 2nd quarter. SG Americas Securities LLC now owns 81,987 shares of the company's stock valued at $1,713,000 after buying an additional 56,064 shares in the last quarter. Raymond James & Associates boosted its holdings in Liberty Energy by 23.4% in the 2nd quarter. Raymond James & Associates now owns 89,274 shares of the company's stock worth $1,865,000 after buying an additional 16,947 shares during the period. Hennessy Advisors Inc. increased its stake in Liberty Energy by 48.0% in the 2nd quarter. Hennessy Advisors Inc. now owns 1,981,100 shares of the company's stock worth $41,385,000 after buying an additional 642,700 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in Liberty Energy by 1.6% during the second quarter. Louisiana State Employees Retirement System now owns 76,300 shares of the company's stock valued at $1,594,000 after acquiring an additional 1,200 shares during the period. 98.22% of the stock is currently 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.