Liberty Energy (NYSE:LBRT – Get Free Report) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.
A number of other equities analysts also recently commented on the stock. UBS Group reaffirmed a “buy” rating on shares of Liberty Energy in a research note on Friday, June 26th. Piper Sandler lifted their price target on shares of Liberty Energy from $32.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $31.00 price objective on shares of Liberty Energy in a report on Wednesday, June 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Energy in a research report on Friday, May 1st. 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 note on Friday, April 24th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.09.
Get Our Latest Analysis on Liberty Energy
Liberty Energy Stock Up 1.4%
Liberty Energy (NYSE:LBRT – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. Liberty Energy had a net margin of 3.71% and a return on equity of 1.41%. During the same quarter in the previous year, the business posted $0.12 EPS. As a group, equities analysts anticipate that Liberty Energy will post 0.28 earnings per share for the current year.
Insider Transactions at Liberty Energy
In other news, Chairman William F. Kimble sold 7,350 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $33.92, for a total value of $249,312.00. Following the transaction, the chairman directly owned 89,805 shares in the company, valued at approximately $3,046,185.60. This represents a 7.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Stock sold 9,999 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $25.89, for a total transaction of $258,874.11. Following the transaction, the chief financial officer directly owned 773,711 shares of the company’s stock, valued at $20,031,377.79. The trade was a 1.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 54,012 shares of company stock valued at $1,673,803. Company insiders own 2.00% of the company’s stock.
Institutional Trading of Liberty Energy
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Liberty Energy by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 18,096,443 shares of the company’s stock worth $334,060,000 after purchasing an additional 97,998 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Liberty Energy by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 9,233,668 shares of the company’s stock valued at $265,931,000 after buying an additional 431,269 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Liberty Energy by 78.5% in the third quarter. Franklin Resources Inc. now owns 8,575,840 shares of the company’s stock valued at $105,826,000 after buying an additional 3,771,724 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Liberty Energy by 901.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,431,125 shares of the company’s stock valued at $127,616,000 after buying an additional 3,988,535 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Liberty Energy by 184.7% in the 4th quarter. Millennium Management LLC now owns 3,287,466 shares of the company’s stock valued at $60,687,000 after buying an additional 2,132,685 shares during the period. Hedge funds and other institutional investors own 98.22% of the company’s stock.
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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