Liberty Energy (NYSE:LBRT – Get Free Report) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.
LBRT has been the topic of several other reports. Morgan Stanley set a $36.00 price target on Liberty Energy in a research note on Monday, April 27th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $32.00 price objective on shares of Liberty Energy in a research report on Friday, April 24th. The Goldman Sachs Group reissued a “neutral” rating and set a $31.00 price objective on shares of Liberty Energy in a report on Wednesday, June 3rd. UBS Group restated a “buy” rating on shares of Liberty Energy in a research note on Tuesday, May 26th. Finally, Stifel Nicolaus raised their target price on Liberty Energy from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Liberty Energy presently has an average rating of “Moderate Buy” and an average target price of $32.18.
Read Our Latest Research Report on Liberty Energy
Liberty Energy Price Performance
Liberty Energy (NYSE:LBRT – Get Free Report) last released its earnings results on Wednesday, April 22nd. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.19. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $954.71 million. Liberty Energy had a net margin of 3.71% and a return on equity of 1.41%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.04 EPS. Research analysts predict that Liberty Energy will post 0.25 earnings per share for the current year.
Insider Activity
In related news, Chairman William F. Kimble sold 7,350 shares of Liberty Energy stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $33.92, for a total transaction of $249,312.00. Following the transaction, the chairman owned 89,805 shares of the company’s stock, valued at $3,046,185.60. This trade represents a 7.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Stock sold 19,998 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $33.48, for a total transaction of $669,533.04. Following the transaction, the chief financial officer owned 800,375 shares of the company’s stock, valued at approximately $26,796,555. This represents a 2.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 44,013 shares of company stock valued at $1,414,929 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.
Institutional Investors Weigh In On Liberty Energy
Several hedge funds have recently bought and sold shares of LBRT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Liberty Energy by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,205 shares of the company’s stock valued at $1,491,000 after buying an additional 4,095 shares during the period. NewEdge Advisors LLC raised its stake in Liberty Energy by 1,992.2% during the 1st quarter. NewEdge Advisors LLC now owns 12,030 shares of the company’s stock worth $190,000 after buying an additional 11,455 shares during the period. Goldman Sachs Group Inc. raised its stake in Liberty Energy by 0.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 868,978 shares of the company’s stock worth $13,756,000 after buying an additional 4,955 shares during the period. Intech Investment Management LLC lifted its holdings in Liberty Energy by 22.0% during the first quarter. Intech Investment Management LLC now owns 81,446 shares of the company’s stock worth $1,289,000 after acquiring an additional 14,663 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in Liberty Energy during the second quarter worth about $119,000. 98.22% of the stock is currently owned by institutional investors and hedge funds.
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. 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.
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