The Goldman Sachs Group Begins Coverage on Liberty Energy (NYSE:LBRT)

The Goldman Sachs Group began coverage on shares of Liberty Energy (NYSE:LBRT) in a research report issued on Friday. The brokerage set a “neutral” rating and a $19.00 price target on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 0.16% from the company’s current price.

A number of other equities research analysts have also issued reports on the stock. Atb Cap Markets upgraded shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Citigroup cut Liberty Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $25.00 to $19.00 in a research note on Friday, October 18th. Barclays lowered their target price on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Stifel Nicolaus reduced their price target on Liberty Energy from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Finally, Wells Fargo & Company lowered their price objective on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.50.

Liberty Energy Trading Down 1.0 %

LBRT opened at $18.97 on Friday. 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 firm has a market cap of $3.10 billion, a P/E ratio of 9.03 and a beta of 1.71. Liberty Energy has a 52 week low of $16.57 and a 52 week high of $24.75. The business has a fifty day simple moving average of $18.30 and a 200-day simple moving average of $20.00.

Liberty Energy (NYSE:LBRT) last released its earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.10). The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The business’s revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 earnings per share. On average, equities analysts expect that Liberty Energy will post 1.72 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $19.91, for a total transaction of $398,200.00. Following the sale, the chief executive officer now owns 2,678,813 shares in the company, valued at approximately $53,335,166.83. The trade was a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Stock sold 15,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $19.23, for a total value of $288,450.00. Following the completion of the sale, the chief financial officer now directly owns 730,207 shares of the company’s stock, valued at approximately $14,041,880.61. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,973 shares of company stock valued at $2,144,485. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Liberty Energy

Hedge funds have recently modified their holdings of the business. Creative Planning boosted its stake in Liberty Energy by 3.7% during the 3rd quarter. Creative Planning now owns 19,456 shares of the company’s stock worth $371,000 after purchasing an additional 703 shares during the period. Andina Capital Management LLC raised its holdings in shares of Liberty Energy by 4.4% in the third quarter. Andina Capital Management LLC now owns 19,413 shares of the company’s stock valued at $371,000 after buying an additional 814 shares during the last quarter. Covestor Ltd boosted its stake in shares of Liberty Energy by 96.8% during the third quarter. Covestor Ltd now owns 1,704 shares of the company’s stock worth $33,000 after buying an additional 838 shares during the period. nVerses Capital LLC grew its holdings in shares of Liberty Energy by 45.0% during the second quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock worth $61,000 after buying an additional 900 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of Liberty Energy by 24.8% during the third quarter. KBC Group NV now owns 4,906 shares of the company’s stock worth $94,000 after buying an additional 974 shares during 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.