Liberty Energy (NYSE:LBRT) Price Target Raised to $20.00

Liberty Energy (NYSE:LBRT) had its price objective raised by stock analysts at Royal Bank Of Canada from $15.00 to $20.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 17.16% from the company’s previous close.

LBRT has been the topic of a number of other reports. Barclays increased their price objective on Liberty Energy from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Piper Sandler set a $16.00 price target on shares of Liberty Energy and gave the stock a “neutral” rating in a report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Liberty Energy in a research note on Wednesday, November 19th. TD Cowen lifted their price target on Liberty Energy from $10.00 to $15.00 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. Finally, Wall Street Zen downgraded shares of Liberty Energy from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Liberty Energy has an average rating of “Moderate Buy” and an average price target of $16.80.

Liberty Energy Price Performance

Liberty Energy stock traded down $0.08 during mid-day trading on Tuesday, reaching $17.07. 404,655 shares of the company’s stock traded hands, compared to its average volume of 3,851,688. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 15.23 and a beta of 0.72. The stock has a 50 day moving average of $14.68 and a two-hundred day moving average of $12.83. Liberty Energy has a 12-month low of $9.50 and a 12-month high of $23.58. The company has a quick ratio of 1.05, a current ratio of 1.32 and a debt-to-equity ratio of 0.22.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data on Thursday, October 16th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.05). Liberty Energy had a net margin of 4.76% and a return on equity of 1.69%. The company had revenue of $947.40 million during the quarter, compared to analysts’ expectations of $967.05 million. During the same period last year, the firm earned $0.45 earnings per share. Liberty Energy’s quarterly revenue was down 16.8% on a year-over-year basis. Equities analysts forecast that Liberty Energy will post 0.58 earnings per share for the current year.

Institutional Investors Weigh In On Liberty Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its holdings in Liberty Energy by 37.7% during the 1st quarter. Russell Investments Group Ltd. now owns 231,722 shares of the company’s stock worth $3,668,000 after buying an additional 63,461 shares during the period. Alpha Wealth Funds LLC purchased a new position in Liberty Energy during the 2nd quarter valued at about $202,000. Vanguard Group Inc. increased its holdings in shares of Liberty Energy by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 18,443,909 shares of the company’s stock valued at $291,967,000 after purchasing an additional 1,128,491 shares during the period. CenterBook Partners LP purchased a new stake in shares of Liberty Energy in the first quarter worth approximately $1,316,000. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Liberty Energy by 112.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 38,055 shares of the company’s stock worth $437,000 after purchasing an additional 20,158 shares during the period. Institutional investors and hedge funds own 98.22% of the company’s stock.

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.