Wells Fargo & Company Raises Liberty Energy (NYSE:LBRT) Price Target to $26.00

Liberty Energy (NYSE:LBRT) had its target price boosted by equities research analysts at Wells Fargo & Company from $24.00 to $26.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 16.18% from the company’s current price.

A number of other equities analysts have also commented on the stock. TD Cowen raised their target price on shares of Liberty Energy from $19.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday. Piper Sandler raised their price objective on Liberty Energy from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Morgan Stanley upped their target price on Liberty Energy from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Finally, Bank of America lifted their price objective on Liberty Energy from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $24.30.

Liberty Energy Stock Performance

Shares of Liberty Energy stock opened at $22.38 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.09. The stock’s fifty day moving average is $21.20 and its two-hundred day moving average is $19.68. Liberty Energy has a 52 week low of $11.62 and a 52 week high of $23.31. The company has a market capitalization of $3.73 billion, a PE ratio of 8.17, a price-to-earnings-growth ratio of 1.08 and a beta of 1.85.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Thursday, April 18th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.90 earnings per share. As a group, analysts expect that Liberty Energy will post 2.61 earnings per share for the current year.

Insider Transactions at Liberty Energy

In other news, CAO Ryan T. Gosney sold 6,000 shares of Liberty Energy stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total value of $123,000.00. Following the transaction, the chief accounting officer now owns 140,706 shares of the company’s stock, valued at approximately $2,884,473. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Liberty Energy news, Director William F. Kimble sold 12,459 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $21.55, for a total value of $268,491.45. Following the sale, the director now directly owns 69,963 shares of the company’s stock, valued at $1,507,702.65. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Ryan T. Gosney sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total value of $123,000.00. Following the sale, the chief accounting officer now directly owns 140,706 shares in the company, valued at $2,884,473. The disclosure for this sale can be found here. Insiders have sold a total of 98,459 shares of company stock valued at $2,077,491 in the last 90 days. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Diversified Trust Co raised its holdings in shares of Liberty Energy by 2.5% during the first quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock valued at $427,000 after acquiring an additional 507 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in Liberty Energy by 3.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 17,902 shares of the company’s stock worth $325,000 after acquiring an additional 621 shares during the last quarter. Advisor Partners II LLC grew its stake in Liberty Energy by 3.8% during the 3rd quarter. Advisor Partners II LLC now owns 18,974 shares of the company’s stock valued at $351,000 after acquiring an additional 689 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Liberty Energy by 27.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after acquiring an additional 709 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in Liberty Energy by 2.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 42,192 shares of the company’s stock valued at $781,000 after acquiring an additional 836 shares during the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

About Liberty Energy

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.