Wells Fargo & Company Has Lowered Expectations for Liberty Energy (NYSE:LBRT) Stock Price

Liberty Energy (NYSE:LBRT) had its target price lowered by equities researchers at Wells Fargo & Company from $24.00 to $22.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 20.20% from the stock’s current price.

Other research analysts have also recently issued reports about the company. TD Cowen lowered their price objective on Liberty Energy from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Atb Cap Markets upgraded shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Royal Bank of Canada decreased their price objective on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. The Goldman Sachs Group assumed coverage on Liberty Energy in a research note on Friday, December 13th. They issued a “neutral” rating and a $19.00 price target for the company. Finally, Stifel Nicolaus lowered their price objective on Liberty Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.30.

Liberty Energy Stock Down 4.6 %

Shares of LBRT stock opened at $18.30 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. Liberty Energy has a 12 month low of $16.57 and a 12 month high of $24.75. The stock has a market cap of $2.99 billion, a P/E ratio of 9.79 and a beta of 1.66. The company has a 50 day simple moving average of $19.83 and a two-hundred day simple moving average of $19.75.

Liberty Energy (NYSE:LBRT) last announced its earnings results on Wednesday, January 29th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Liberty Energy had a return on equity of 14.37% and a net margin of 7.32%. On average, research analysts expect that Liberty Energy will post 0.9 earnings per share for the current year.

Insider Activity

In related news, CFO Michael Stock sold 5,000 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.00, for a total value of $115,000.00. Following the completion of the transaction, the chief financial officer now owns 675,207 shares of the company’s stock, valued at approximately $15,529,761. This trade represents a 0.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher A. Wright sold 2,936 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $19.16, for a total value of $56,253.76. Following the sale, the chief executive officer now directly owns 2,543,877 shares in the company, valued at $48,740,683.32. The trade was a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,973 shares of company stock worth $1,500,285. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC lifted its position in shares of Liberty Energy by 17.1% during the third quarter. FMR LLC now owns 18,115,282 shares of the company’s stock worth $345,821,000 after purchasing an additional 2,640,119 shares during the last quarter. JPMorgan Chase & Co. raised its position in Liberty Energy by 61.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,146,179 shares of the company’s stock valued at $60,061,000 after purchasing an additional 1,193,918 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Liberty Energy by 15.9% in the 3rd quarter. Pacer Advisors Inc. now owns 7,012,382 shares of the company’s stock worth $133,866,000 after buying an additional 963,068 shares during the period. Canoe Financial LP lifted its holdings in shares of Liberty Energy by 20.4% in the 3rd quarter. Canoe Financial LP now owns 4,124,695 shares of the company’s stock worth $79,408,000 after buying an additional 699,500 shares during the period. Finally, Bridgewater Associates LP increased its stake in shares of Liberty Energy by 285.1% during the third quarter. Bridgewater Associates LP now owns 700,814 shares of the company’s stock valued at $13,379,000 after buying an additional 518,830 shares during the period. 98.22% of the stock is owned by hedge funds and other institutional investors.

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.