Citigroup Issues Positive Forecast for Liberty Energy (NYSE:LBRT) Stock Price

Liberty Energy (NYSE:LBRT) had its price target hoisted by Citigroup from $19.00 to $22.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential upside of 1.57% from the stock’s current price.

Several other analysts have also recently commented on the stock. Royal Bank of Canada decreased their price target on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Atb Cap Markets raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Seaport Res Ptn upgraded Liberty Energy from a “hold” rating to a “strong-buy” rating in a report on Sunday. Evercore ISI upgraded Liberty Energy to a “strong-buy” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group assumed coverage on shares of Liberty Energy in a research note on Friday, December 13th. They issued a “neutral” rating and a $19.00 target price for the company. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.60.

Liberty Energy Price Performance

Shares of LBRT traded up $0.47 during mid-day trading on Tuesday, hitting $21.66. The company’s stock had a trading volume of 2,004,722 shares, compared to its average volume of 2,596,301. Liberty Energy has a fifty-two week low of $16.57 and a fifty-two week high of $24.75. The firm has a 50-day moving average price of $18.39 and a 200 day moving average price of $19.64. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 10.31 and a beta of 1.66. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.97.

Liberty Energy (NYSE:LBRT) last issued 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). The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The firm’s revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.85 EPS. On average, research analysts predict that Liberty Energy will post 1.72 EPS for the current fiscal year.

Insider Buying and Selling at Liberty Energy

In other news, CFO Michael Stock sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $18.45, for a total transaction of $92,250.00. Following the completion of the transaction, the chief financial officer now owns 720,207 shares of the company’s stock, valued at approximately $13,287,819.15. This represents a 0.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher A. Wright sold 2,936 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $19.16, for a total value of $56,253.76. Following the transaction, the chief executive officer now owns 2,543,877 shares in the company, valued at $48,740,683.32. This represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,973 shares of company stock worth $1,471,335 over the last ninety days. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Liberty Energy

Several institutional investors and hedge funds have recently bought and sold shares of LBRT. Empowered Funds LLC raised its stake in Liberty Energy by 45.1% during the third quarter. Empowered Funds LLC now owns 495,578 shares of the company’s stock worth $9,461,000 after acquiring an additional 154,070 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Liberty Energy by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 872,215 shares of the company’s stock worth $16,651,000 after purchasing an additional 37,927 shares in the last quarter. Quest Partners LLC lifted its holdings in Liberty Energy by 168.2% during the 3rd quarter. Quest Partners LLC now owns 62,979 shares of the company’s stock valued at $1,202,000 after purchasing an additional 39,497 shares during the last quarter. Impala Asset Management LLC boosted its position in Liberty Energy by 89.2% in the third quarter. Impala Asset Management LLC now owns 350,000 shares of the company’s stock valued at $6,682,000 after buying an additional 165,000 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Liberty Energy by 61.2% during the third quarter. JPMorgan Chase & Co. now owns 3,146,179 shares of the company’s stock worth $60,061,000 after buying an additional 1,193,918 shares during the last quarter. Institutional investors own 98.22% of the company’s stock.

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.