Liberty Energy (NYSE:LBRT) Raised to “Hold” at Zacks Research

by · The Cerbat Gem

Liberty Energy (NYSE:LBRT – Get Free Report) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other research firms have also issued reports on LBRT. UBS Group began coverage on shares of Liberty Energy in a report on Tuesday, December 2nd. They set a “buy” rating and a $23.00 target price for the company. Piper Sandler set a $16.00 price objective on shares of Liberty Energy and gave the company a “neutral” rating in a report on Monday, October 20th. JPMorgan Chase & Co. upgraded Liberty Energy from a “neutral” rating to an “overweight” rating and set a $24.00 target price on the stock in a report on Wednesday, December 10th. Citigroup raised Liberty Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $12.00 to $21.00 in a report on Tuesday, October 21st. Finally, Royal Bank Of Canada boosted their price objective on Liberty Energy from $15.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $18.64.

Read Our Latest Stock Analysis on Liberty Energy

Liberty Energy Stock Performance

Shares of LBRT traded down $0.21 during trading hours on Monday, hitting $17.76. The stock had a trading volume of 252,688 shares, compared to its average volume of 3,812,074. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 15.87 and a beta of 0.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.32. The firm has a 50-day moving average price of $16.83 and a 200 day moving average price of $13.61. Liberty Energy has a fifty-two week low of $9.50 and a fifty-two week high of $23.58.

Liberty Energy (NYSE:LBRT – Get Free Report) last announced its earnings results on Thursday, October 16th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.05). Liberty Energy had a return on equity of 1.69% and a net margin of 4.76%.The business had revenue of $947.40 million for the quarter, compared to analyst estimates of $967.05 million. During the same period in the previous year, the company earned $0.45 earnings per share. The company’s quarterly revenue was down 16.8% compared to the same quarter last year. As a group, research analysts anticipate that Liberty Energy will post 0.58 EPS for the current year.

Institutional Trading of Liberty Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its holdings in shares of Liberty Energy by 45.3% in the first quarter. PNC Financial Services Group Inc. now owns 4,465 shares of the company’s stock valued at $71,000 after purchasing an additional 1,392 shares during the period. Nuveen LLC purchased a new position in Liberty Energy during the first quarter worth about $7,743,000. Russell Investments Group Ltd. lifted its position in Liberty Energy by 37.7% in the first quarter. Russell Investments Group Ltd. now owns 231,722 shares of the company’s stock valued at $3,668,000 after purchasing an additional 63,461 shares during the period. Northern Trust Corp lifted its position in Liberty Energy by 1.8% in the first quarter. Northern Trust Corp now owns 2,105,514 shares of the company’s stock valued at $33,330,000 after purchasing an additional 38,123 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in Liberty Energy by 18.8% in the 1st quarter. Hsbc Holdings PLC now owns 68,374 shares of the company’s stock valued at $1,079,000 after purchasing an additional 10,814 shares in the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

Liberty Energy Company Profile

(Get Free Report)

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.

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