The Goldman Sachs Group Has Lowered Expectations for Liberty Energy (NYSE:LBRT) Stock Price

Liberty Energy (NYSE:LBRT) had its target price reduced by stock analysts at The Goldman Sachs Group from $19.00 to $14.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 30.11% from the company’s current price.

Several other analysts have also commented on LBRT. Royal Bank of Canada lowered shares of Liberty Energy from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $24.00 to $19.00 in a research report on Monday, March 24th. Seaport Res Ptn raised shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Sunday, January 5th. TD Cowen cut their price target on shares of Liberty Energy from $18.00 to $16.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Barclays lowered their target price on shares of Liberty Energy from $21.00 to $17.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Citigroup increased their target price on Liberty Energy from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Six analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.60.

Liberty Energy Stock Performance

Shares of LBRT traded down $0.90 during trading hours on Thursday, reaching $10.76. 1,549,824 shares of the company traded hands, compared to its average volume of 2,698,594. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 0.20. Liberty Energy has a 12-month low of $9.50 and a 12-month high of $24.75. The stock has a market capitalization of $1.74 billion, a P/E ratio of 5.70 and a beta of 1.18. The business has a fifty day moving average price of $15.58 and a 200-day moving average price of $17.97.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data 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 net margin of 7.32% and a return on equity of 14.28%. Equities analysts anticipate that Liberty Energy will post 0.58 EPS for the current fiscal year.

Insider Transactions at Liberty Energy

In other Liberty Energy news, CFO Michael Stock sold 5,000 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $23.00, for a total value of $115,000.00. Following the completion of the transaction, the chief financial officer now owns 675,207 shares in the company, valued at $15,529,761. This represents a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LBRT. HighTower Advisors LLC lifted its position in Liberty Energy by 70.2% during the 3rd quarter. HighTower Advisors LLC now owns 25,115 shares of the company’s stock worth $475,000 after acquiring an additional 10,362 shares during the period. Quarry LP boosted its position in Liberty Energy by 237.5% during the third quarter. Quarry LP now owns 1,991 shares of the company’s stock worth $38,000 after purchasing an additional 1,401 shares in the last quarter. Stifel Financial Corp grew its stake in Liberty Energy by 33.5% in the 3rd quarter. Stifel Financial Corp now owns 145,849 shares of the company’s stock valued at $2,784,000 after acquiring an additional 36,573 shares during the last quarter. State Street Corp lifted its stake in Liberty Energy by 2.7% in the 3rd quarter. State Street Corp now owns 6,662,830 shares of the company’s stock valued at $127,193,000 after buying an additional 176,887 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Liberty Energy during the 3rd quarter valued at $407,000. Hedge funds and other institutional investors own 98.22% of the company’s stock.

About Liberty Energy

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.