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Liberty Energy (NYSE:LBRT) Rating Increased to Strong-Buy at Evercore ISI

Liberty Energy logo with Oils/Energy background

Liberty Energy (NYSE:LBRT - Get Free Report) was upgraded by equities researchers at Evercore ISI to a "strong-buy" rating in a research note issued to investors on Thursday, Zacks.com reports.

Other equities analysts have also issued reports about the stock. Barclays cut their price target on shares of Liberty Energy from $26.00 to $24.00 and set an "overweight" rating on the stock in a report on Wednesday. Piper Sandler reduced their target price on Liberty Energy from $28.00 to $25.00 and set an "overweight" rating on the stock in a research report on Monday, July 15th. Stifel Nicolaus decreased their price target on Liberty Energy from $26.00 to $25.00 and set a "buy" rating for the company in a research note on Friday. Citigroup lowered 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. Finally, Royal Bank of Canada decreased their price objective on shares of Liberty Energy from $26.00 to $23.00 and set an "outperform" rating for the company in a research report on Friday. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $22.70.

View Our Latest Analysis on Liberty Energy

Liberty Energy Stock Down 3.3 %

LBRT stock traded down $0.60 during trading on Thursday, reaching $17.70. 5,230,568 shares of the company traded hands, compared to its average volume of 2,508,886. The business has a 50 day simple moving average of $20.03 and a 200 day simple moving average of $21.31. Liberty Energy has a 12 month low of $16.69 and a 12 month high of $24.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 6.46, a price-to-earnings-growth ratio of 1.20 and a beta of 1.68.

Liberty Energy (NYSE:LBRT - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.10). Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the previous year, the company posted $0.85 earnings per share. The business's quarterly revenue was down 6.4% compared to the same quarter last year. On average, equities research analysts anticipate that Liberty Energy will post 2.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, CFO Michael Stock sold 5,000 shares of the company's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $21.01, for a total value of $105,050.00. Following the sale, the chief financial officer now directly owns 745,207 shares of the company's stock, valued at approximately $15,656,799.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $19.77, for a total transaction of $395,400.00. Following the completion of the transaction, the chief executive officer now directly owns 2,638,813 shares of the company's stock, valued at $52,169,333.01. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Stock sold 5,000 shares of the business's stock in a transaction 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 transaction, the chief financial officer now owns 745,207 shares of the company's stock, valued at approximately $15,656,799.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,000 shares of company stock worth $1,945,650. Company insiders own 3.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in Liberty Energy by 17.6% in the second quarter. American Century Companies Inc. now owns 3,961,415 shares of the company's stock valued at $82,754,000 after purchasing an additional 594,051 shares during the period. Bank of New York Mellon Corp increased its holdings in Liberty Energy by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,634,256 shares of the company's stock worth $55,030,000 after acquiring an additional 67,362 shares in the last quarter. Hennessy Advisors Inc. raised its position in Liberty Energy by 48.0% during the second quarter. Hennessy Advisors Inc. now owns 1,981,100 shares of the company's stock worth $41,385,000 after acquiring an additional 642,700 shares during the period. LSV Asset Management raised its position in Liberty Energy by 19.5% during the second quarter. LSV Asset Management now owns 1,717,591 shares of the company's stock worth $35,880,000 after acquiring an additional 280,550 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Liberty Energy by 34.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,498,921 shares of the company's stock valued at $31,312,000 after purchasing an additional 381,841 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company's stock.

Liberty Energy Company Profile

(Get Free Report)

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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