TD Cowen Lowers Liberty Energy (NYSE:LBRT) Price Target to $16.00

Liberty Energy (NYSE:LBRT) had its price target dropped by equities research analysts at TD Cowen from $18.00 to $16.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price target would indicate a potential downside of 25.09% from the stock’s current price.

Several other analysts have also recently weighed in on LBRT. Stifel Nicolaus reduced their target price on shares of Liberty Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Monday. Citigroup boosted their target price on Liberty Energy from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday. Evercore ISI upgraded shares of Liberty Energy to a “strong-buy” rating in a research note on Thursday, October 17th. Wells Fargo & Company decreased their price objective on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Finally, Seaport Res Ptn upgraded Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Sunday. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.20.

Liberty Energy Trading Down 1.2 %

Liberty Energy stock traded down $0.25 during trading on Wednesday, reaching $21.36. 1,403,114 shares of the company were exchanged, compared to its average volume of 2,688,524. The stock’s 50 day simple moving average is $18.48 and its two-hundred day simple moving average is $19.65. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.97. The company has a market capitalization of $3.49 billion, a P/E ratio of 10.17 and a beta of 1.66. Liberty Energy has a 52-week low of $16.57 and a 52-week high of $24.75.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.10). The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. The business’s revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 earnings per share. On average, equities research analysts expect that Liberty Energy will post 1.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Michael Stock sold 5,000 shares of Liberty Energy stock in a transaction on Friday, November 1st. The stock was sold at an average price of $17.21, for a total value of $86,050.00. Following the transaction, the chief financial officer now owns 725,207 shares in the company, valued at approximately $12,480,812.47. This trade represents a 0.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher A. Wright sold 16,000 shares of Liberty Energy stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $18.23, for a total transaction of $291,680.00. Following the transaction, the chief executive officer now directly owns 2,562,813 shares in the company, valued at approximately $46,720,080.99. This trade represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 77,973 shares of company stock valued at $1,471,335 in the last quarter. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of Liberty Energy

Several large investors have recently modified their holdings of LBRT. Covestor Ltd boosted its stake in Liberty Energy by 96.8% in the third quarter. Covestor Ltd now owns 1,704 shares of the company’s stock valued at $33,000 after acquiring an additional 838 shares during the period. Quarry LP raised its stake in shares of Liberty Energy by 237.5% during the third quarter. Quarry LP now owns 1,991 shares of the company’s stock valued at $38,000 after purchasing an additional 1,401 shares in the last quarter. GAMMA Investing LLC increased its stake in Liberty Energy by 82.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,174 shares of the company’s stock valued at $61,000 after buying an additional 1,431 shares during the period. US Bancorp DE increased its stake in shares of Liberty Energy by 93.2% during the third quarter. US Bancorp DE now owns 4,180 shares of the company’s stock valued at $80,000 after acquiring an additional 2,016 shares during the period. Finally, KBC Group NV boosted its stake in Liberty Energy by 24.8% during the 3rd quarter. KBC Group NV now owns 4,906 shares of the company’s stock valued at $94,000 after purchasing an additional 974 shares in the last quarter. 98.22% of the stock is currently owned by institutional investors and hedge funds.

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.