Liberty Energy (NYSE:LBRT - Get Free Report) was upgraded by Morgan Stanley from an "equal weight" rating to an "overweight" rating in a note issued to investors on Thursday, Marketbeat.com reports. The firm currently has a $25.00 price objective on the stock, up from their previous price objective of $20.00. Morgan Stanley's price target suggests a potential upside of 58.45% from the stock's current price.
Several other research analysts have also recently commented on the stock. Citigroup raised their target price on shares of Liberty Energy from $19.00 to $22.00 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. Royal Bank of Canada cut Liberty Energy from an "outperform" rating to a "sector perform" rating and dropped their price objective for the company from $24.00 to $19.00 in a report on Monday, March 24th. Wells Fargo & Company reduced their target price on Liberty Energy from $24.00 to $22.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. The Goldman Sachs Group assumed coverage on Liberty Energy in a research note on Friday, December 13th. They issued a "neutral" rating and a $19.00 price target for the company. Finally, Seaport Res Ptn upgraded shares of Liberty Energy from a "hold" rating to a "strong-buy" rating in a research note on Sunday, January 5th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Liberty Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.90.
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Liberty Energy Stock Performance
Shares of Liberty Energy stock traded down $0.02 on Thursday, hitting $15.78. The stock had a trading volume of 507,410 shares, compared to its average volume of 2,634,924. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 8.44 and a beta of 1.58. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 0.20. Liberty Energy has a twelve month low of $13.86 and a twelve month high of $24.75. The business's 50 day moving average is $17.28 and its two-hundred day moving average is $18.48.
Liberty Energy (NYSE:LBRT - Get Free Report) last posted its earnings results on Wednesday, January 29th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.06). Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. Analysts forecast that Liberty Energy will post 0.58 EPS for the current year.
Insider Activity at Liberty Energy
In other Liberty Energy news, CFO Michael Stock sold 5,000 shares of the business's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $23.00, for a total transaction of $115,000.00. Following the sale, the chief financial officer now owns 675,207 shares of the company's stock, valued at approximately $15,529,761. The trade was a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 35,000 shares of company stock valued at $710,800 in the last quarter. Insiders own 1.90% of the company's stock.
Institutional Investors Weigh In On Liberty Energy
Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC grew its holdings in shares of Liberty Energy by 17.1% during the third quarter. FMR LLC now owns 18,115,282 shares of the company's stock worth $345,821,000 after purchasing an additional 2,640,119 shares during the last quarter. Franklin Resources Inc. increased its position in Liberty Energy by 83.5% in the 4th quarter. Franklin Resources Inc. now owns 4,828,712 shares of the company's stock valued at $96,043,000 after acquiring an additional 2,197,352 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Liberty Energy by 61.2% during the third 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. Balyasny Asset Management L.P. acquired a new position in shares of Liberty Energy during the fourth quarter worth $20,337,000. Finally, Bridgewater Associates LP grew its stake in shares of Liberty Energy by 285.1% in the third quarter. Bridgewater Associates LP now owns 700,814 shares of the company's stock worth $13,379,000 after purchasing an additional 518,830 shares during the last quarter. Institutional investors own 98.22% of the company's stock.
About Liberty Energy
(
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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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