Piper Sandler Has Lowered Expectations for Liberty Energy (NYSE:LBRT) Stock Price

Liberty Energy (NYSE:LBRT) had its target price cut by research analysts at Piper Sandler from $14.00 to $13.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price objective points to a potential upside of 18.51% from the stock’s previous close.

Several other equities analysts also recently commented on LBRT. Wells Fargo & Company boosted their price target on shares of Liberty Energy from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 5th. Stifel Nicolaus dropped their price target on shares of Liberty Energy from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Monday, July 28th. Citigroup lowered their target price on shares of Liberty Energy from $16.00 to $13.50 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. TD Cowen boosted their target price on shares of Liberty Energy from $10.00 to $13.00 and gave the stock a “hold” rating in a research note on Monday, April 21st. Finally, Barclays lowered their target price on shares of Liberty Energy from $16.00 to $14.00 and set an “overweight” rating for the company in a research note on Tuesday, July 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.05.

Liberty Energy Stock Performance

NYSE:LBRT opened at $10.97 on Thursday. The company has a fifty day simple moving average of $12.13 and a two-hundred day simple moving average of $13.39. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 8.44 and a beta of 0.67. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.18. Liberty Energy has a 52 week low of $9.50 and a 52 week high of $23.58.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.02). The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Liberty Energy had a return on equity of 6.01% and a net margin of 5.29%. The business’s revenue was down 10.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. As a group, equities analysts anticipate that Liberty Energy will post 0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Liberty Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its position in Liberty Energy by 1.7% in the first quarter. Principal Financial Group Inc. now owns 912,636 shares of the company’s stock valued at $14,447,000 after acquiring an additional 15,596 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Liberty Energy in the first quarter valued at about $761,000. Manning & Napier Advisors LLC purchased a new stake in shares of Liberty Energy in the first quarter valued at about $1,110,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Liberty Energy by 6.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,054,615 shares of the company’s stock valued at $32,566,000 after buying an additional 118,878 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Liberty Energy by 1,279.1% in the first quarter. GAMMA Investing LLC now owns 17,983 shares of the company’s stock valued at $285,000 after buying an additional 16,679 shares during the last quarter. 98.22% of the stock is 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.