Piper Sandler Issues Pessimistic Forecast for Liberty Energy (NYSE:LBRT) Stock Price

Liberty Energy (NYSE:LBRT) had its price target dropped by investment analysts at Piper Sandler from $30.00 to $29.00 in a report released on Monday, Marketbeat Ratings reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 75.37% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. Scotiabank assumed coverage on shares of Liberty Energy in a research note on Tuesday, September 29th. They set a “sector perform” rating and a $19.00 price target on the stock. The Goldman Sachs Group set a $23.00 price target on shares of Liberty Energy in a report on Friday, August 7th. Stifel Nicolaus lowered their price objective on shares of Liberty Energy from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, July 24th. Weiss Ratings upgraded Liberty Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Finally, Royal Bank Of Canada dropped their price objective on Liberty Energy from $34.00 to $29.00 and set a “sector perform” rating for the company in a report on Friday, July 24th. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.12.

Liberty Energy Trading Down 3.2%

Shares of LBRT stock opened at $16.54 on Monday. The firm has a market cap of $2.70 billion, a P/E ratio of 122.07, a PEG ratio of 2.99 and a beta of 0.71. Liberty Energy has a 1-year low of $14.76 and a 1-year high of $34.48. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.99 and a quick ratio of 1.75. The firm’s 50-day simple moving average is $19.40 and its 200-day simple moving average is $24.45.

Liberty Energy (NYSE:LBRT) last released its earnings results on Wednesday, July 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. Liberty Energy had a net margin of 2.92% and a return on equity of 1.14%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the company earned $0.12 earnings per share. The company’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, equities analysts forecast that Liberty Energy will post 0.29 EPS for the current year.

Insider Transactions at Liberty Energy

In related news, Director Arjun Murti bought 14,053 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was bought at an average price of $17.79 per share, with a total value of $250,002.87. Following the completion of the transaction, the director directly owned 41,621 shares of the company’s stock, valued at approximately $740,437.59. This represents a 50.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Stock sold 6,666 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $19.84, for a total value of $132,253.44. Following the completion of the sale, the chief financial officer directly owned 760,379 shares of the company’s stock, valued at $15,085,919.36. The trade was a 0.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 16,665 shares of company stock worth $319,301. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Liberty Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Root Financial Partners LLC increased its stake in Liberty Energy by 79.6% during the 1st quarter. Root Financial Partners LLC now owns 914 shares of the company’s stock worth $26,000 after buying an additional 405 shares during the period. Valued Wealth Advisors LLC acquired a new position in Liberty Energy in the 1st quarter worth $26,000. Summit Securities Group LLC acquired a new position in Liberty Energy in the 1st quarter worth $28,000. GHP Investment Advisors Inc. purchased a new position in Liberty Energy in the 1st quarter valued at about $39,000. Finally, Fortitude Family Office LLC boosted its position in Liberty Energy by 1,397.1% in the 3rd quarter. Fortitude Family Office LLC now owns 3,129 shares of the company’s stock valued at $57,000 after buying an additional 2,920 shares during the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

Liberty Energy Company Profile

Liberty Energy Inc is an oilfield services company that provides completion and production services to exploration and production companies. Its primary business is hydraulic fracturing, a well-stimulation technique used to improve the flow of oil and natural gas from unconventional reservoirs.

The company also offers wireline services, well diagnostics, frac data analysis, engineering support, and related technologies designed to help customers plan, execute, and evaluate well-completion operations.