The Goldman Sachs Group Cuts Liberty Energy (NYSE:LBRT) Price Target to $14.00

Liberty Energy (NYSE:LBRT) had its price objective decreased by equities researchers at The Goldman Sachs Group from $19.00 to $14.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 28.26% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Liberty Energy from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, January 31st. TD Cowen cut their price objective on shares of Liberty Energy from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Seaport Res Ptn raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a research report on Sunday, January 5th. Citigroup increased their price target on Liberty Energy from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Finally, Morgan Stanley upgraded Liberty Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $20.00 to $25.00 in a report on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.60.

Liberty Energy Price Performance

LBRT stock opened at $10.92 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 0.20. The company’s fifty day simple moving average is $15.44 and its 200 day simple moving average is $17.90. Liberty Energy has a 12-month low of $9.50 and a 12-month high of $24.75. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 5.84 and a beta of 1.18.

Liberty Energy (NYSE:LBRT) last released its earnings results on Wednesday, January 29th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.06). Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. On average, analysts expect that Liberty Energy will post 0.58 earnings per share for the current year.

Insider Activity

In related news, CFO Michael Stock sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $23.00, for a total transaction of $115,000.00. Following the completion of the transaction, the chief financial officer now owns 675,207 shares of the company’s stock, valued at approximately $15,529,761. The trade was a 0.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LBRT. GAMMA Investing LLC grew its position in Liberty Energy by 1,279.1% during the first quarter. GAMMA Investing LLC now owns 17,983 shares of the company’s stock worth $285,000 after buying an additional 16,679 shares in the last quarter. Palogic Value Management L.P. purchased a new position in shares of Liberty Energy during the fourth quarter worth about $1,492,000. Alpha Wealth Funds LLC bought a new position in shares of Liberty Energy in the fourth quarter worth approximately $728,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Liberty Energy in the fourth quarter worth approximately $3,365,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Liberty Energy by 5.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 338,798 shares of the company’s stock valued at $6,739,000 after purchasing an additional 17,440 shares in the last quarter. 98.22% of the stock is currently owned by hedge funds and other 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.