Liberty Energy (NYSE:LBRT) Price Target Cut to $13.50 by Analysts at Citigroup

Liberty Energy (NYSE:LBRT - Get Free Report) had its target price lowered by equities researchers at Citigroup from $16.00 to $13.50 in a report issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Citigroup's price objective would indicate a potential upside of 13.30% from the company's previous close.

A number of other equities research analysts have also recently commented on the company. TD Cowen increased their target price on Liberty Energy from $10.00 to $13.00 and gave the company a "hold" rating in a report on Monday. Royal Bank of Canada lowered Liberty Energy from an "outperform" rating to a "sector perform" rating and reduced their price target for the stock from $24.00 to $19.00 in a research note on Monday, March 24th. Seaport Res Ptn raised Liberty Energy from a "hold" rating to a "strong-buy" rating in a research note on Sunday, January 5th. Morgan Stanley raised shares of Liberty Energy from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $20.00 to $25.00 in a research report on Thursday, March 27th. Finally, Barclays cut their price target on shares of Liberty Energy from $17.00 to $16.00 and set an "overweight" rating on the stock in a research note on Tuesday. Six research analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, Liberty Energy has an average rating of "Moderate Buy" and an average target price of $18.05.

Liberty Energy Price Performance

LBRT traded up $0.38 on Tuesday, hitting $11.92. 2,279,117 shares of the company were exchanged, compared to its average volume of 2,735,146. Liberty Energy has a fifty-two week low of $9.50 and a fifty-two week high of $24.75. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.97 and a current ratio of 1.27. The firm has a market capitalization of $1.93 billion, a P/E ratio of 6.37 and a beta of 1.18. The business's fifty day moving average is $14.59 and its 200 day moving average is $17.49.

Liberty Energy (NYSE:LBRT - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. The firm had revenue of $977.46 million during the quarter, compared to the consensus estimate of $960.64 million. Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. During the same period last year, the business posted $0.48 EPS. As a group, sell-side analysts anticipate that Liberty Energy will post 0.58 EPS for the current year.

Insider Transactions at Liberty Energy

In other Liberty Energy news, CFO Michael Stock sold 10,000 shares of Liberty Energy stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $17.94, for a total transaction of $179,400.00. Following the sale, the chief financial officer now directly owns 717,292 shares in the company, valued at $12,868,218.48. The trade was a 1.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.90% of the company's stock.

Institutional Trading of Liberty Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. increased its position in shares of Liberty Energy by 10.8% in the 4th quarter. American Century Companies Inc. now owns 5,178,089 shares of the company's stock worth $102,992,000 after purchasing an additional 505,634 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Liberty Energy by 83.5% during the 4th quarter. Franklin Resources Inc. now owns 4,828,712 shares of the company's stock worth $96,043,000 after buying an additional 2,197,352 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Liberty Energy by 61.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,146,179 shares of the company's stock valued at $60,061,000 after acquiring an additional 1,193,918 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Liberty Energy by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,433,866 shares of the company's stock worth $48,410,000 after purchasing an additional 196,619 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Liberty Energy by 28.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 2,147,698 shares of the company's stock worth $42,718,000 after purchasing an additional 480,957 shares during the period. 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.

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