Royal Bank of Canada Has Lowered Expectations for Liberty Energy (NYSE:LBRT) Stock Price

Liberty Energy (NYSE:LBRT) had its target price cut by analysts at Royal Bank of Canada from $26.00 to $24.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 29.99% from the company’s current price.

Several other analysts also recently issued reports on LBRT. Citigroup upped their price objective on Liberty Energy from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Seaport Res Ptn upgraded Liberty Energy from a “hold” rating to a “strong-buy” rating in a research report on Sunday, January 5th. Atb Cap Markets upgraded Liberty Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. TD Cowen dropped their price objective on Liberty Energy from $18.00 to $16.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group assumed coverage on shares of Liberty Energy in a research note on Friday, December 13th. They set a “neutral” rating and a $19.00 price objective for the company. 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.30.

Liberty Energy Stock Down 3.8 %

Shares of Liberty Energy stock traded down $0.73 during trading hours on Friday, hitting $18.46. The company had a trading volume of 1,997,983 shares, compared to its average volume of 3,012,489. The company’s 50-day moving average is $19.84 and its two-hundred day moving average is $19.79. Liberty Energy has a twelve month low of $16.57 and a twelve month high of $24.75. 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 cap of $3.02 billion, a P/E ratio of 9.88 and a beta of 1.66.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Wednesday, January 29th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.06). Liberty Energy had a net margin of 7.32% and a return on equity of 14.37%. Analysts anticipate that Liberty Energy will post 0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Michael Stock sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $23.00, for a total transaction of $115,000.00. Following the completion of the sale, the chief financial officer now owns 675,207 shares in the company, valued at $15,529,761. This represents a 0.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher A. Wright sold 2,037 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $18.15, for a total transaction of $36,971.55. Following the transaction, the chief executive officer now directly owns 2,578,813 shares of the company’s stock, valued at $46,805,455.95. This represents a 0.08 % decrease in their position. 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 company insiders.

Institutional Investors Weigh In On Liberty Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Covestor Ltd boosted its stake in Liberty Energy by 96.8% in the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company’s stock valued at $33,000 after buying an additional 838 shares in the last quarter. Quarry LP raised its stake in shares of Liberty Energy by 237.5% in the third quarter. Quarry LP now owns 1,991 shares of the company’s stock valued at $38,000 after acquiring an additional 1,401 shares during the last quarter. Blue Trust Inc. increased its position in Liberty Energy by 604.9% in the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the company’s stock valued at $47,000 after acquiring an additional 2,111 shares in the last quarter. Spire Wealth Management bought a new stake in shares of Liberty Energy during the fourth quarter worth $60,000. Finally, GAMMA Investing LLC lifted its stake in shares of Liberty Energy by 82.1% during the third quarter. GAMMA Investing LLC now owns 3,174 shares of the company’s stock valued at $61,000 after acquiring an additional 1,431 shares during the period. Institutional investors 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.