Liberty Energy Inc. (NYSE:LBRT) Sees Large Decrease in Short Interest

Liberty Energy Inc. (NYSE:LBRT) was the target of a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 8,103,953 shares, a decline of 16.9% from the December 15th total of 9,753,206 shares. Approximately 5.1% of the company’s stock are short sold. Based on an average daily trading volume, of 3,661,624 shares, the short-interest ratio is presently 2.2 days. Based on an average daily trading volume, of 3,661,624 shares, the short-interest ratio is presently 2.2 days. Approximately 5.1% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its holdings in shares of Liberty Energy by 2.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 22,583 shares of the company’s stock valued at $417,000 after buying an additional 500 shares during the last quarter. Amalgamated Bank raised its stake in Liberty Energy by 1.8% during the 3rd quarter. Amalgamated Bank now owns 46,915 shares of the company’s stock valued at $579,000 after acquiring an additional 819 shares in the last quarter. Apollon Wealth Management LLC raised its stake in Liberty Energy by 0.7% during the 2nd quarter. Apollon Wealth Management LLC now owns 126,088 shares of the company’s stock valued at $1,447,000 after acquiring an additional 829 shares in the last quarter. California State Teachers Retirement System boosted its position in Liberty Energy by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 145,252 shares of the company’s stock worth $1,667,000 after acquiring an additional 1,012 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of Liberty Energy by 15.8% in the third quarter. PNC Financial Services Group Inc. now owns 7,510 shares of the company’s stock worth $93,000 after purchasing an additional 1,025 shares in the last quarter. Institutional investors own 98.22% of the company’s stock.

Liberty Energy Stock Down 1.3%

Shares of Liberty Energy stock opened at $20.19 on Monday. The company has a current ratio of 1.32, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. The business’s 50 day simple moving average is $18.32 and its 200-day simple moving average is $14.64. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 18.03 and a beta of 0.45. Liberty Energy has a twelve month low of $9.50 and a twelve month high of $23.58.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data on Thursday, October 16th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). Liberty Energy had a net margin of 4.76% and a return on equity of 1.69%. The company had revenue of $947.40 million for the quarter, compared to analyst estimates of $967.05 million. During the same quarter in the prior year, the firm earned $0.45 EPS. The company’s revenue for the quarter was down 16.8% compared to the same quarter last year. Equities research analysts forecast that Liberty Energy will post 0.58 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on LBRT. JPMorgan Chase & Co. raised shares of Liberty Energy from a “neutral” rating to an “overweight” rating and set a $24.00 price objective for the company in a report on Wednesday, December 10th. TD Cowen lifted their price target on Liberty Energy from $15.00 to $19.00 and gave the stock a “hold” rating in a research note on Wednesday, January 7th. Cowen restated a “hold” rating on shares of Liberty Energy in a research note on Wednesday, January 7th. Citigroup raised Liberty Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $12.00 to $21.00 in a report on Tuesday, October 21st. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $20.00 price target on shares of Liberty Energy in a report on Wednesday. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.27.

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. As of as of December 31, 2023, the company owned and operated a fleet of approximately 40 active hydraulic fracturing; and two sand mines in the Permian Basin.