Royal Bank of Canada Raises Liberty Energy (NYSE:LBRT) Price Target to $27.00

Liberty Energy (NYSE:LBRT) had its price objective boosted by investment analysts at Royal Bank of Canada from $25.00 to $27.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 20.59% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Wells Fargo & Company increased their target price on Liberty Energy from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday. Bank of America increased their target price on Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday. Piper Sandler increased their target price on Liberty Energy from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Barclays increased their target price on Liberty Energy from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, TD Cowen increased their target price on Liberty Energy from $19.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Liberty Energy has an average rating of “Moderate Buy” and a consensus target price of $24.30.

Liberty Energy Stock Up 1.3 %

Shares of Liberty Energy stock traded up $0.29 on Friday, hitting $22.39. 1,420,085 shares of the company’s stock traded hands, compared to its average volume of 2,947,162. The stock has a market cap of $3.73 billion, a P/E ratio of 8.15, a PEG ratio of 1.04 and a beta of 1.85. The company has a quick ratio of 1.17, a current ratio of 1.49 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average is $21.15 and its 200 day moving average is $19.65. Liberty Energy has a 52-week low of $11.62 and a 52-week high of $23.31.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Thursday, April 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.06). The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. Liberty Energy had a net margin of 10.43% and a return on equity of 26.90%. The business’s revenue was down 12.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. Equities analysts anticipate that Liberty Energy will post 2.64 earnings per share for the current year.

Insider Activity at Liberty Energy

In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $22.66, for a total transaction of $453,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,858,814 shares in the company, valued at approximately $64,780,725.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $22.66, for a total transaction of $453,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,858,814 shares in the company, valued at approximately $64,780,725.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William F. Kimble sold 12,459 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $21.55, for a total value of $268,491.45. Following the sale, the director now owns 69,963 shares of the company’s stock, valued at $1,507,702.65. The disclosure for this sale can be found here. Insiders sold 98,459 shares of company stock worth $2,077,491 in the last quarter. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Liberty Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in LBRT. EdgeRock Capital LLC purchased a new stake in shares of Liberty Energy during the 4th quarter worth about $27,000. Principal Securities Inc. purchased a new stake in shares of Liberty Energy during the 4th quarter worth about $39,000. Quadrant Capital Group LLC raised its stake in shares of Liberty Energy by 70.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock worth $53,000 after purchasing an additional 1,206 shares in the last quarter. Quarry LP raised its stake in shares of Liberty Energy by 111.0% during the 2nd quarter. Quarry LP now owns 3,965 shares of the company’s stock worth $53,000 after purchasing an additional 2,086 shares in the last quarter. Finally, KBC Group NV bought a new position in shares of Liberty Energy in the 4th quarter valued at approximately $55,000. 98.22% of the stock is owned by hedge funds and other institutional investors.

Liberty Energy Company Profile

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.