Liberty Energy (NYSE:LBRT) Price Target Raised to $13.00

Liberty Energy (NYSE:LBRT - Get Free Report) had its price target lifted by analysts at TD Cowen from $10.00 to $13.00 in a research note issued on Monday, Marketbeat.com reports. The firm currently has a "hold" rating on the stock. TD Cowen's price target would indicate a potential upside of 7.71% from the company's previous close.

Other equities analysts also recently 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. Royal Bank of Canada downgraded shares of Liberty Energy from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from $24.00 to $19.00 in a research report on Monday, March 24th. Morgan Stanley raised Liberty Energy from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $20.00 to $25.00 in a research note on Thursday, March 27th. Citigroup raised their price objective on Liberty Energy from $19.00 to $22.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company reiterated 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. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, Liberty Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.05.

Liberty Energy Stock Performance

LBRT traded up $0.06 during trading on Monday, reaching $12.07. The company's stock had a trading volume of 3,103,904 shares, compared to its average volume of 2,746,421. 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 company's fifty day moving average price is $14.48 and its 200-day moving average price is $17.45. Liberty Energy has a 52-week low of $9.50 and a 52-week high of $24.75. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 6.45 and a beta of 1.18.

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, beating analysts' consensus estimates of $0.03 by $0.01. The firm had revenue of $977.46 million for 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 in the previous year, the business earned $0.48 earnings per share. On average, equities analysts forecast that Liberty Energy will post 0.58 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Liberty Energy

A number of hedge funds have recently added to or reduced their stakes in LBRT. Blue Trust Inc. lifted its holdings in shares of Liberty Energy by 604.9% during the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the company's stock worth $47,000 after acquiring an additional 2,111 shares during the period. CIBC Private Wealth Group LLC raised its stake in Liberty Energy by 257.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,197 shares of the company's stock worth $47,000 after purchasing an additional 1,583 shares during the period. Spire Wealth Management purchased a new position in Liberty Energy during the fourth quarter worth approximately $60,000. Smartleaf Asset Management LLC boosted its holdings in shares of Liberty Energy by 176.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,423 shares of the company's stock valued at $67,000 after purchasing an additional 2,184 shares during the last quarter. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Liberty Energy during the 4th quarter worth $99,000. 98.22% of the stock is owned by institutional investors and hedge funds.

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.