Liberty Energy (NYSE:LBRT) Rating Increased to Hold at Wall Street Zen

Liberty Energy (NYSE:LBRT) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Several other analysts also recently commented on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $26.00 target price on shares of Liberty Energy in a report on Wednesday. JPMorgan Chase & Co. raised 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. UBS Group reiterated a “buy” rating and set a $34.00 target price on shares of Liberty Energy in a research report on Friday, January 30th. Piper Sandler raised Liberty Energy from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $17.00 to $32.00 in a report on Monday. Finally, TD Cowen raised their price objective on shares of Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a research report on Friday, January 30th. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Liberty Energy has a consensus rating of “Hold” and a consensus price target of $24.64.

Liberty Energy Stock Performance

Shares of LBRT stock opened at $25.24 on Friday. The firm has a market capitalization of $4.09 billion, a PE ratio of 28.36 and a beta of 0.49. The firm has a fifty day simple moving average of $20.17 and a two-hundred day simple moving average of $15.74. Liberty Energy has a 12 month low of $9.50 and a 12 month high of $27.21. The company has a current ratio of 1.22, a quick ratio of 0.96 and a debt-to-equity ratio of 0.22.

Liberty Energy (NYSE:LBRT) last posted its earnings results on Wednesday, January 28th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.21. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $880.59 million. Liberty Energy had a net margin of 3.69% and a return on equity of 1.24%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 EPS. Analysts forecast that Liberty Energy will post 0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Liberty Energy

Several institutional investors and hedge funds have recently bought and sold shares of LBRT. Franklin Resources Inc. boosted its stake in shares of Liberty Energy by 78.5% during the third quarter. Franklin Resources Inc. now owns 8,575,840 shares of the company’s stock valued at $105,826,000 after purchasing an additional 3,771,724 shares during the period. Balyasny Asset Management L.P. raised its stake in Liberty Energy by 1,529.2% in the third quarter. Balyasny Asset Management L.P. now owns 2,753,357 shares of the company’s stock worth $33,976,000 after buying an additional 2,584,359 shares in the last quarter. Sourcerock Group LLC bought a new position in shares of Liberty Energy in the 2nd quarter worth approximately $23,653,000. Cooper Creek Partners Management LLC bought a new position in Liberty Energy in the third quarter worth $22,336,000. Finally, American Century Companies Inc. increased its stake in shares of Liberty Energy by 28.2% in the 3rd quarter. American Century Companies Inc. now owns 7,809,390 shares of the company’s stock worth $96,368,000 after acquiring an additional 1,716,007 shares in the last quarter. 98.22% of the stock is currently owned by 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. 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.