Liberty Energy (NYSE:LBRT) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Liberty Energy (NYSE:LBRT) had its target price hoisted by equities researchers at The Goldman Sachs Group from $26.00 to $30.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 7.84% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Liberty Energy in a research note on Thursday, January 15th. Barclays raised their price objective on Liberty Energy from $17.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 3rd. Citigroup boosted their target price on Liberty Energy from $21.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Piper Sandler raised Liberty Energy from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $17.00 to $32.00 in a research note on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Liberty Energy in a research report on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Liberty Energy has an average rating of “Moderate Buy” and a consensus target price of $26.42.

Liberty Energy Price Performance

LBRT opened at $27.82 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 0.96 and a debt-to-equity ratio of 0.22. The company has a market cap of $4.51 billion, a price-to-earnings ratio of 31.26 and a beta of 0.48. The stock has a fifty day simple moving average of $23.20 and a two-hundred day simple moving average of $17.71. Liberty Energy has a 12-month low of $9.50 and a 12-month high of $28.94.

Liberty Energy (NYSE:LBRT) last released 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. Liberty Energy had a net margin of 3.69% and a return on equity of 1.24%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $880.59 million. During the same period in the prior year, the firm earned $0.10 EPS. The company’s revenue was up 10.1% compared to the same quarter last year. Research analysts predict that Liberty Energy will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Arjun N. Murti bought 9,696 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was acquired at an average cost of $25.79 per share, for a total transaction of $250,059.84. Following the purchase, the director owned 27,568 shares in the company, valued at approximately $710,978.72. This represents a 54.25% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider R Sean Elliott sold 25,000 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $25.40, for a total value of $635,000.00. Following the transaction, the insider directly owned 343,150 shares in the company, valued at $8,716,010. The trade was a 6.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Liberty Energy

Several hedge funds have recently bought and sold shares of LBRT. T. Rowe Price Investment Management Inc. lifted its holdings in Liberty Energy by 60.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,503,529 shares of the company’s stock valued at $46,216,000 after purchasing an additional 946,591 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Liberty Energy by 10.2% in the fourth quarter. Invesco Ltd. now owns 1,074,464 shares of the company’s stock worth $19,835,000 after acquiring an additional 99,851 shares during the period. First Citizens Bank & Trust Co. grew its position in shares of Liberty Energy by 3.2% during the fourth quarter. First Citizens Bank & Trust Co. now owns 31,658 shares of the company’s stock worth $584,000 after purchasing an additional 976 shares in the last quarter. Empowered Funds LLC raised its stake in Liberty Energy by 39.9% during the 4th quarter. Empowered Funds LLC now owns 916,637 shares of the company’s stock valued at $16,921,000 after purchasing an additional 261,436 shares during the period. Finally, XTX Topco Ltd lifted its holdings in Liberty Energy by 96.3% in the 4th quarter. XTX Topco Ltd now owns 46,642 shares of the company’s stock worth $861,000 after purchasing an additional 22,885 shares in the last quarter. 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.