Liberty Energy (NYSE:LBRT) Stock Rating Lowered by Citigroup

Liberty Energy (NYSE:LBRT) was downgraded by stock analysts at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, FinViz reports. They currently have a $19.00 price target on the stock, down from their previous price target of $25.00. Citigroup’s price objective points to a potential upside of 3.83% from the company’s current price.

Several other research firms have also issued reports on LBRT. Barclays cut their target price on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Wednesday. Stifel Nicolaus decreased their target price on Liberty Energy from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, October 11th. Bank of America decreased their target price on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, July 15th. TD Cowen decreased their target price on Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a report on Friday, July 19th. Finally, Piper Sandler decreased their target price on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

Liberty Energy Price Performance

LBRT opened at $18.30 on Friday. The business’s 50-day moving average is $20.08 and its two-hundred day moving average is $21.34. Liberty Energy has a 1 year low of $16.69 and a 1 year high of $24.75. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 1.07. The firm has a market capitalization of $3.05 billion, a PE ratio of 6.68, a price-to-earnings-growth ratio of 1.20 and a beta of 1.68.

Liberty Energy (NYSE:LBRT) last posted its earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.10). Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the firm earned $0.85 EPS. Liberty Energy’s revenue for the quarter was down 6.4% on a year-over-year basis. Research analysts anticipate that Liberty Energy will post 2.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Liberty Energy

In other news, CFO Michael Stock sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $22.92, for a total value of $458,400.00. Following the completion of the sale, the chief financial officer now directly owns 765,207 shares in the company, valued at $17,538,544.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 95,000 shares of company stock valued at $1,945,650. 3.60% of the stock is owned by company insiders.

Institutional Trading of Liberty Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Diversified Trust Co increased its position in shares of Liberty Energy by 2.5% in the first quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock valued at $427,000 after buying an additional 507 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Liberty Energy by 4.0% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 14,262 shares of the company’s stock valued at $296,000 after buying an additional 543 shares in the last quarter. Perigon Wealth Management LLC increased its position in shares of Liberty Energy by 2.4% in the first quarter. Perigon Wealth Management LLC now owns 24,815 shares of the company’s stock valued at $514,000 after buying an additional 571 shares in the last quarter. Andina Capital Management LLC increased its position in shares of Liberty Energy by 3.9% in the second quarter. Andina Capital Management LLC now owns 18,599 shares of the company’s stock valued at $389,000 after buying an additional 691 shares in the last quarter. Finally, Creative Planning increased its position in shares of Liberty Energy by 3.7% during the third quarter. Creative Planning now owns 19,456 shares of the company’s stock worth $371,000 after purchasing an additional 703 shares in the last quarter. 98.22% of the stock is currently 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.