Stifel Nicolaus Cuts Liberty Energy (NYSE:LBRT) Price Target to $22.00

Liberty Energy (NYSE:LBRT - Get Free Report) had its price target cut by equities research analysts at Stifel Nicolaus from $23.00 to $22.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' price objective would suggest a potential upside of 86.36% from the stock's previous close.

Other research analysts have also issued research reports about the stock. Seaport Res Ptn upgraded shares of Liberty Energy from a "hold" rating to a "strong-buy" rating in a report on Sunday, January 5th. Wells Fargo & Company reissued an "equal weight" rating and set a $11.00 target price (down from $20.00) on shares of Liberty Energy in a research report on Tuesday, April 8th. TD Cowen raised their price target on shares of Liberty Energy from $10.00 to $13.00 and gave the company a "hold" rating in a report on Monday. Citigroup boosted their price objective 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. Finally, Royal Bank of Canada downgraded Liberty Energy from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from $24.00 to $19.00 in a research note on Monday, March 24th. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $19.00.

Liberty Energy Trading Up 2.3 %

NYSE:LBRT traded up $0.27 during mid-day trading on Tuesday, reaching $11.81. The company's stock had a trading volume of 1,103,135 shares, compared to its average volume of 2,730,287. The stock has a market cap of $1.91 billion, a P/E ratio of 6.31 and a beta of 1.18. Liberty Energy has a twelve month low of $9.50 and a twelve month high of $24.75. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.27 and a quick ratio of 0.97. The company's fifty day simple moving average is $14.59 and its two-hundred day simple moving average is $17.49.

Liberty Energy (NYSE:LBRT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.01. Liberty Energy had a net margin of 7.32% and a return on equity of 14.28%. The company had revenue of $977.46 million for the quarter, compared to the consensus estimate of $960.64 million. During the same quarter last year, the firm posted $0.48 earnings per share. On average, equities analysts predict that Liberty Energy will post 0.58 EPS for the current year.

Insider Activity

In other news, CFO Michael Stock sold 10,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $17.94, for a total value of $179,400.00. Following the completion of the transaction, the chief financial officer now directly owns 717,292 shares in the company, valued at $12,868,218.48. This trade represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On Liberty Energy

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 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 acquiring an additional 505,634 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Liberty Energy by 83.5% during the fourth 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. lifted its position 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 in the last quarter. Charles Schwab Investment Management Inc. grew its position in Liberty Energy by 8.8% during the 4th 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 in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Liberty Energy by 28.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,147,698 shares of the company's stock valued at $42,718,000 after buying an additional 480,957 shares in the last quarter. 98.22% of the stock is owned by 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.

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