Liberty Energy (NYSE:LBRT) Shares Gap Down to $15.04

Liberty Energy Inc. (NYSE:LBRTGet Rating) shares gapped down before the market opened on Thursday . The stock had previously closed at $15.04, but opened at $14.51. Liberty Energy shares last traded at $14.65, with a volume of 6,493 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LBRT. Wells Fargo & Company dropped their price objective on Liberty Energy to $15.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. The Goldman Sachs Group lifted their target price on Liberty Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Tuesday, August 23rd. Capital One Financial lifted their target price on Liberty Energy to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Piper Sandler lifted their target price on Liberty Energy from $19.50 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, June 1st. Finally, Royal Bank of Canada raised Liberty Energy from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $21.00 to $25.00 in a research report on Wednesday, July 27th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.22.

Liberty Energy Stock Down 5.7 %

The company has a market cap of $2.55 billion, a price-to-earnings ratio of -1,364.00 and a beta of 2.26. The company has a current ratio of 1.35, a quick ratio of 1.09 and a debt-to-equity ratio of 0.20. The business has a fifty day moving average of $13.88 and a two-hundred day moving average of $14.69.

Liberty Energy (NYSE:LBRTGet Rating) last released its quarterly earnings results on Monday, July 25th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.39. The company had revenue of $942.62 million during the quarter, compared to analysts’ expectations of $870.62 million. Liberty Energy had a return on equity of 0.62% and a net margin of 0.17%. Liberty Energy’s quarterly revenue was up 62.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.29) EPS. As a group, equities analysts anticipate that Liberty Energy Inc. will post 1.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Christopher A. Wright sold 3,189 shares of the company’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $15.06, for a total value of $48,026.34. Following the completion of the transaction, the chief executive officer now owns 3,348,115 shares of the company’s stock, valued at approximately $50,422,611.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President Ron Gusek sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $15.43, for a total value of $154,300.00. Following the completion of the sale, the president now owns 1,187,189 shares of the company’s stock, valued at $18,318,326.27. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Christopher A. Wright sold 3,189 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $15.06, for a total value of $48,026.34. Following the completion of the sale, the chief executive officer now directly owns 3,348,115 shares of the company’s stock, valued at approximately $50,422,611.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,900 shares of company stock valued at $1,384,061. 3.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Liberty Energy

Several hedge funds and other institutional investors have recently made changes to their positions in LBRT. Assenagon Asset Management S.A. acquired a new stake in Liberty Energy in the second quarter valued at $24,052,000. Point72 Asset Management L.P. raised its holdings in Liberty Energy by 599.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,079,979 shares of the company’s stock valued at $26,541,000 after acquiring an additional 1,782,589 shares during the last quarter. Millennium Management LLC grew its stake in shares of Liberty Energy by 7,456.0% during the 2nd quarter. Millennium Management LLC now owns 1,464,127 shares of the company’s stock valued at $18,682,000 after buying an additional 1,444,750 shares during the period. Merewether Investment Management LP purchased a new stake in shares of Liberty Energy during the 2nd quarter valued at $16,380,000. Finally, Bank of New York Mellon Corp boosted its position in Liberty Energy by 129.4% during the 1st quarter. Bank of New York Mellon Corp now owns 2,089,808 shares of the company’s stock worth $30,971,000 after purchasing an additional 1,178,716 shares during the period. Institutional investors and hedge funds own 94.31% of the company’s stock.

Liberty Energy Company Profile

(Get Rating)

Liberty Energy Inc provides hydraulic fracturing and wireline services, and related goods to onshore oil and natural gas exploration and production companies in North America. It also offers hydraulic fracturing pressure pumping services, including pressure pumping and pumpdown perforating services, as well wireline services, proppant delivery solutions, data analytics, related goods and technologies.

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