Liberty Energy (NYSE:LBRT) Upgraded at JPMorgan Chase & Co.

Liberty Energy (NYSE:LBRT) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Wednesday, Marketbeat.com reports. The firm currently has a $24.00 target price on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 21.53% from the company’s previous close.

A number of other research analysts have also recently issued reports on the company. Wall Street Zen cut Liberty Energy from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Citigroup raised Liberty Energy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $12.00 to $21.00 in a research report on Tuesday, October 21st. The Goldman Sachs Group raised their price objective on shares of Liberty Energy from $11.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Cowen reiterated a “hold” rating on shares of Liberty Energy in a research note on Wednesday, November 5th. Finally, TD Cowen increased their price target on shares of Liberty Energy from $10.00 to $15.00 and gave the company a “hold” rating in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Liberty Energy currently has a consensus rating of “Moderate Buy” and an average price target of $18.36.

Liberty Energy Trading Up 1.8%

NYSE:LBRT opened at $19.75 on Wednesday. The firm has a market capitalization of $3.20 billion, a P/E ratio of 17.63 and a beta of 0.47. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.32 and a quick ratio of 1.05. Liberty Energy has a one year low of $9.50 and a one year high of $23.58. The company’s 50-day simple moving average is $16.18 and its 200 day simple moving average is $13.34.

Liberty Energy (NYSE:LBRT) last released its earnings results on Thursday, October 16th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.05). Liberty Energy had a net margin of 4.76% and a return on equity of 1.69%. The business had revenue of $947.40 million for the quarter, compared to analysts’ expectations of $967.05 million. During the same quarter in the previous year, the business posted $0.45 earnings per share. Liberty Energy’s revenue for the quarter was down 16.8% on a year-over-year basis. As a group, analysts forecast that Liberty Energy will post 0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Liberty Energy

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Liberty Energy by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 18,443,909 shares of the company’s stock valued at $291,967,000 after buying an additional 1,128,491 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Liberty Energy by 78.5% in the third quarter. Franklin Resources Inc. now owns 8,575,840 shares of the company’s stock worth $105,826,000 after acquiring an additional 3,771,724 shares during the period. American Century Companies Inc. lifted its holdings in Liberty Energy by 28.2% in the third quarter. American Century Companies Inc. now owns 7,809,390 shares of the company’s stock valued at $96,368,000 after acquiring an additional 1,716,007 shares during the period. The Manufacturers Life Insurance Company boosted its position in Liberty Energy by 21.7% in the second quarter. The Manufacturers Life Insurance Company now owns 2,967,041 shares of the company’s stock worth $34,062,000 after purchasing an additional 529,023 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in Liberty Energy by 1,529.2% in the third quarter. Balyasny Asset Management L.P. now owns 2,753,357 shares of the company’s stock worth $33,976,000 after purchasing an additional 2,584,359 shares during the last quarter. 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.