Liberty Energy (NYSE:LBRT) Shares Gap Down to $15.04

Liberty Energy Inc. (NYSE:LBRTGet Rating) gapped down prior to trading on Thursday . The stock had previously closed at $15.04, but opened at $14.51. Liberty Energy shares last traded at $14.65, with a volume of 6,493 shares trading hands.

Analyst Ratings Changes

LBRT has been the subject of a number of recent research reports. Wells Fargo & Company dropped their price objective on shares of Liberty Energy to $15.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Capital One Financial upped their price target on shares of Liberty Energy to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Royal Bank of Canada upgraded shares of Liberty Energy from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $21.00 to $25.00 in a research report on Wednesday, July 27th. Piper Sandler upped their target price on shares of Liberty Energy from $19.50 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 1st. Finally, Morgan Stanley lowered their price target on shares of Liberty Energy from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, July 13th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Liberty Energy currently has an average rating of “Moderate Buy” and an average price target of $20.22.

Liberty Energy Trading Down 5.7 %

The company’s fifty day simple moving average is $13.88 and its two-hundred day simple moving average is $14.69. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of -1,364.00 and a beta of 2.26. The company has a quick ratio of 1.09, a current ratio of 1.35 and a debt-to-equity ratio of 0.20.

Liberty Energy (NYSE:LBRTGet Rating) last issued its quarterly earnings data on Monday, July 25th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.16 by $0.39. The business had revenue of $942.62 million for the quarter, compared to the consensus estimate of $870.62 million. Liberty Energy had a return on equity of 0.62% and a net margin of 0.17%. The firm’s revenue was up 62.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.29) EPS. Research analysts forecast that Liberty Energy Inc. will post 1.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Christopher A. Wright sold 40,000 shares of the stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $15.21, for a total transaction of $608,400.00. Following the completion of the sale, the chief executive officer now owns 3,388,115 shares of the company’s stock, valued at $51,533,229.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Christopher A. Wright sold 40,000 shares of the stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $15.21, for a total transaction of $608,400.00. Following the completion of the transaction, the chief executive officer now directly owns 3,388,115 shares in the company, valued at $51,533,229.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher A. Wright sold 16,011 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $15.04, for a total value of $240,805.44. Following the completion of the sale, the chief executive officer now owns 3,351,304 shares in the company, valued at approximately $50,403,612.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,900 shares of company stock worth $1,384,061. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Liberty Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LBRT. Advisor Group Holdings Inc. raised its holdings in Liberty Energy by 5,231.5% during the fourth quarter. Advisor Group Holdings Inc. now owns 10,663 shares of the company’s stock worth $104,000 after acquiring an additional 10,463 shares in the last quarter. Envestnet Asset Management Inc. acquired a new stake in Liberty Energy in the fourth quarter valued at $334,000. ProShare Advisors LLC grew its position in shares of Liberty Energy by 70.5% in the 4th quarter. ProShare Advisors LLC now owns 19,860 shares of the company’s stock valued at $192,000 after acquiring an additional 8,211 shares during the period. First Trust Advisors LP acquired a new position in shares of Liberty Energy during the 4th quarter worth about $514,000. Finally, Dimensional Fund Advisors LP grew its holdings in Liberty Energy by 24.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,700,443 shares of the company’s stock worth $26,194,000 after purchasing an additional 526,002 shares during the period. 94.31% of the stock is currently owned by institutional investors and hedge funds.

Liberty Energy Company Profile

(Get Rating)

Liberty Energy Inc provides hydraulic fracturing and wireline services, and related goods to onshore oil and natural gas exploration and production companies in North America. It also offers hydraulic fracturing pressure pumping services, including pressure pumping and pumpdown perforating services, as well wireline services, proppant delivery solutions, data analytics, related goods and technologies.

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