Barclays Boosts Liberty Energy (NYSE:LBRT) Price Target to $24.00

Liberty Energy (NYSE:LBRT) had its price target increased by investment analysts at Barclays from $23.00 to $24.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential downside of 13.17% from the stock’s previous close.

A number of other brokerages have also weighed in on LBRT. Piper Sandler raised Liberty Energy from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $17.00 to $32.00 in a report on Monday, February 2nd. Bank of America raised Liberty Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Tuesday, February 17th. UBS Group reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Liberty Energy in a report on Friday, January 30th. Morgan Stanley lifted their price target on shares of Liberty Energy from $23.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Liberty Energy in a research report on Thursday, January 15th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $26.50.

Liberty Energy Price Performance

Shares of LBRT opened at $27.64 on Thursday. Liberty Energy has a twelve month low of $9.90 and a twelve month high of $32.40. The stock’s 50 day moving average is $27.81 and its two-hundred day moving average is $20.99. The firm has a market capitalization of $4.48 billion, a PE ratio of 31.06 and a beta of 0.48. The company has a current ratio of 1.22, a quick ratio of 0.96 and a debt-to-equity ratio of 0.22.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.21. Liberty Energy had a return on equity of 1.24% and a net margin of 3.69%.The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $880.59 million. During the same quarter in the previous year, the company earned $0.10 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. Research analysts anticipate that Liberty Energy will post 0.58 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Michael Stock sold 25,000 shares of Liberty Energy stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $25.38, for a total transaction of $634,500.00. Following the completion of the transaction, the chief financial officer directly owned 784,819 shares in the company, valued at $19,918,706.22. The trade was a 3.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider R Sean Elliott sold 25,000 shares of Liberty Energy stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $25.40, for a total value of $635,000.00. Following the transaction, the insider owned 343,150 shares of the company’s stock, valued at $8,716,010. This represents a 6.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LBRT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Liberty Energy by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,205 shares of the company’s stock worth $1,491,000 after purchasing an additional 4,095 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Liberty Energy by 1,992.2% during the 1st quarter. NewEdge Advisors LLC now owns 12,030 shares of the company’s stock worth $190,000 after purchasing an additional 11,455 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Liberty Energy by 0.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 868,978 shares of the company’s stock worth $13,756,000 after purchasing an additional 4,955 shares during the last quarter. Intech Investment Management LLC raised its holdings in Liberty Energy by 22.0% in the 1st quarter. Intech Investment Management LLC now owns 81,446 shares of the company’s stock valued at $1,289,000 after acquiring an additional 14,663 shares during the last quarter. Finally, Norges Bank acquired a new position in Liberty Energy in the 2nd quarter valued at $2,509,000. 98.22% of the stock is currently 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. As of as of December 31, 2023, the company owned and operated a fleet of approximately 40 active hydraulic fracturing; and two sand mines in the Permian Basin.