Liberty Energy (NYSE:LBRT) Given New $22.00 Price Target at Wells Fargo & Company

Liberty Energy (NYSE:LBRT) had its price target lowered by equities research analysts at Wells Fargo & Company from $24.00 to $22.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 15.76% from the company’s previous close.

Several other analysts also recently commented on LBRT. 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. Stifel Nicolaus dropped their price objective on Liberty Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Atb Cap Markets raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. TD Cowen lowered their price target on Liberty Energy from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group started coverage on shares of Liberty Energy in a research report on Friday, December 13th. They set a “neutral” rating and a $19.00 price objective on the stock. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

Liberty Energy Stock Performance

NYSE:LBRT traded down $0.19 during mid-day trading on Friday, hitting $19.01. 352,396 shares of the company traded hands, compared to its average volume of 2,934,079. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. The stock’s fifty day moving average price is $19.84 and its 200-day moving average price is $19.79. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 10.19 and a beta of 1.66. Liberty Energy has a one year low of $16.57 and a one year high of $24.75.

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

Insider Activity

In related news, CEO Christopher A. Wright sold 2,037 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $18.15, for a total value of $36,971.55. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael Stock sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $18.45, for a total transaction of $92,250.00. Following the completion of the sale, the chief financial officer now directly owns 720,207 shares of the company’s stock, valued at approximately $13,287,819.15. The trade was a 0.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,973 shares of company stock worth $1,500,285. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Liberty Energy

Several hedge funds and other institutional investors have recently modified their holdings of LBRT. Covestor Ltd grew its position 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 acquiring an additional 838 shares during the last quarter. Quarry LP boosted 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 during the period. Blue Trust Inc. grew its holdings in shares of Liberty Energy by 604.9% in the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the company’s stock worth $47,000 after purchasing an additional 2,111 shares during the last quarter. Spire Wealth Management purchased a new position in Liberty Energy in the 4th quarter worth about $60,000. Finally, GAMMA Investing LLC lifted its holdings 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 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.