Royal Bank Of Canada Has Lowered Expectations for Liberty Energy (NYSE:LBRT) Stock Price

Liberty Energy (NYSE:LBRT) had its price objective reduced by investment analysts at Royal Bank Of Canada from $34.00 to $29.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 57.31% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the stock. Stifel Nicolaus reduced their target price on shares of Liberty Energy from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Friday. Piper Sandler set a $34.00 target price on shares of Liberty Energy in a research note on Friday. Zacks Research downgraded shares of Liberty Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. UBS Group reiterated a “buy” rating on shares of Liberty Energy in a research note on Friday, June 26th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $31.00 target price on shares of Liberty Energy in a research report on Wednesday, June 3rd. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.36.

Liberty Energy Stock Down 6.0%

Liberty Energy stock traded down $1.19 during mid-day trading on Friday, hitting $18.43. The company’s stock had a trading volume of 2,601,845 shares, compared to its average volume of 4,192,623. Liberty Energy has a 52-week low of $9.90 and a 52-week high of $34.48. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.21 and a quick ratio of 1.97. The company has a market cap of $3.01 billion, a PE ratio of 24.85, a price-to-earnings-growth ratio of 2.05 and a beta of 0.54. The firm’s 50 day moving average is $27.51 and its 200 day moving average is $27.22.

Liberty Energy (NYSE:LBRT) last announced its earnings results on Wednesday, July 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.09 billion. Liberty Energy had a net margin of 2.92% and a return on equity of 1.13%. Liberty Energy’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.12 earnings per share. On average, analysts anticipate that Liberty Energy will post 0.28 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Michael Stock sold 9,999 shares of Liberty Energy stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $25.89, for a total transaction of $258,874.11. Following the sale, the chief financial officer directly owned 773,711 shares of the company’s stock, valued at approximately $20,031,377.79. The trade was a 1.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman William F. Kimble sold 7,350 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $33.92, for a total transaction of $249,312.00. Following the transaction, the chairman owned 89,805 shares of the company’s stock, valued at approximately $3,046,185.60. This represents a 7.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 54,012 shares of company stock worth $1,673,803. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Root Financial Partners LLC raised its position in shares of Liberty Energy by 79.6% during the first quarter. Root Financial Partners LLC now owns 914 shares of the company’s stock worth $26,000 after purchasing an additional 405 shares during the period. Valued Wealth Advisors LLC bought a new position in shares of Liberty Energy in the first quarter valued at $26,000. Summit Securities Group LLC bought a new stake in shares of Liberty Energy during the first quarter worth about $28,000. GHP Investment Advisors Inc. bought a new stake in shares of Liberty Energy during the first quarter worth about $39,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Liberty Energy during the fourth quarter valued at approximately $29,000. 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.