Liberty Energy (NYSE:LBRT) Downgraded by Atb Cap Markets to “Hold”

by · The Cerbat Gem

Liberty Energy (NYSE:LBRT – Get Free Report) was downgraded by investment analysts at Atb Cap Markets from a “strong-buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company cut their target price on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday. TD Cowen reduced their price objective on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. Citigroup cut shares of Liberty Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $25.00 to $19.00 in a report on Friday. Piper Sandler cut their target price on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Finally, Royal Bank of Canada decreased their price target on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Friday. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.70.

Read Our Latest Research Report on LBRT

Liberty Energy Stock Down 3.3 %

Shares of NYSE LBRT opened at $17.69 on Thursday. Liberty Energy has a 1 year low of $16.69 and a 1 year high of $24.75. The firm’s 50-day moving average is $20.03 and its 200-day moving average is $21.32. The company has a current ratio of 1.35, a quick ratio of 1.07 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2.95 billion, a PE ratio of 6.46, a price-to-earnings-growth ratio of 1.20 and a beta of 1.68.

Liberty Energy (NYSE:LBRT – Get Free Report) last issued its earnings results on Wednesday, October 16th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.10). Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. The business’s revenue was down 6.4% on a year-over-year basis. Equities analysts expect that Liberty Energy will post 2.14 EPS for the current year.

Insider Activity at Liberty Energy

In other Liberty Energy news, CFO Michael Stock sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $22.92, for a total transaction of $458,400.00. Following the completion of the transaction, the chief financial officer now owns 765,207 shares of the company’s stock, valued at $17,538,544.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have sold 95,000 shares of company stock valued at $1,945,650. 3.60% of the stock is owned by insiders.

Institutional Trading of Liberty Energy

A number of hedge funds and other institutional investors have recently modified their holdings of LBRT. Lord Abbett & CO. LLC bought a new stake in shares of Liberty Energy during the 1st quarter worth approximately $27,809,000. Hennessy Advisors Inc. increased its holdings in Liberty Energy by 48.0% during the second quarter. Hennessy Advisors Inc. now owns 1,981,100 shares of the company’s stock worth $41,385,000 after buying an additional 642,700 shares during the last quarter. American Century Companies Inc. raised its position in Liberty Energy by 17.6% during the second quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock worth $82,754,000 after acquiring an additional 594,051 shares in the last quarter. LSV Asset Management lifted its stake in Liberty Energy by 60.2% in the first quarter. LSV Asset Management now owns 1,437,041 shares of the company’s stock valued at $29,775,000 after acquiring an additional 539,861 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of Liberty Energy by 345.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 573,200 shares of the company’s stock valued at $11,974,000 after acquiring an additional 444,500 shares during the period. Institutional investors and hedge funds own 98.22% of the company’s stock.

About Liberty Energy

(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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