Wells Fargo & Company Increases Liberty Energy (NYSE:LBRT) Price Target to $26.00

Liberty Energy (NYSE:LBRT) had its target price increased by stock analysts at Wells Fargo & Company from $24.00 to $26.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 16.85% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley increased their price objective on shares of Liberty Energy from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Piper Sandler raised their target price on shares of Liberty Energy from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. TD Cowen lifted their price objective on shares of Liberty Energy from $19.00 to $21.00 and gave the stock a “hold” rating in a research note on Friday. Finally, Bank of America boosted their target price on shares of Liberty Energy from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Monday. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $23.60.

Liberty Energy Price Performance

Shares of Liberty Energy stock traded up $0.15 during trading on Friday, hitting $22.25. 321,306 shares of the company’s stock traded hands, compared to its average volume of 2,932,743. The company has a market cap of $3.71 billion, a PE ratio of 8.11, a PEG ratio of 1.04 and a beta of 1.85. Liberty Energy has a twelve month low of $11.62 and a twelve month high of $23.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.49 and a quick ratio of 1.17. The firm’s fifty day moving average price is $21.15 and its 200 day moving average price is $19.65.

Liberty Energy (NYSE:LBRT) last announced its earnings results on Thursday, April 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. Liberty Energy had a return on equity of 26.90% and a net margin of 10.43%. Liberty Energy’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.90 earnings per share. Analysts forecast that Liberty Energy will post 2.64 earnings per share for the current year.

Insider Activity at Liberty Energy

In other news, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $22.66, for a total value of $453,200.00. Following the completion of the sale, the chief executive officer now owns 2,858,814 shares in the company, valued at approximately $64,780,725.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $22.66, for a total value of $453,200.00. Following the completion of the sale, the chief executive officer now owns 2,858,814 shares in the company, valued at approximately $64,780,725.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William F. Kimble sold 12,459 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $21.55, for a total transaction of $268,491.45. Following the completion of the sale, the director now owns 69,963 shares of the company’s stock, valued at approximately $1,507,702.65. The disclosure for this sale can be found here. Insiders have sold 98,459 shares of company stock worth $2,077,491 in the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Liberty Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Diversified Trust Co lifted its holdings in shares of Liberty Energy by 2.5% in the first quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock worth $427,000 after buying an additional 507 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Liberty Energy by 3.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 17,902 shares of the company’s stock worth $325,000 after buying an additional 621 shares in the last quarter. Advisor Partners II LLC raised its stake in Liberty Energy by 3.8% in the third quarter. Advisor Partners II LLC now owns 18,974 shares of the company’s stock valued at $351,000 after purchasing an additional 689 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Liberty Energy by 27.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after purchasing an additional 709 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in Liberty Energy by 2.0% in the third quarter. Los Angeles Capital Management LLC now owns 42,192 shares of the company’s stock valued at $781,000 after purchasing an additional 836 shares in the last quarter. 98.22% of the stock is 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.