Liberty Energy (NYSE:LBRT) Stock Rating Upgraded by Bank of America

Liberty Energy (NYSE:LBRT) was upgraded by investment analysts at Bank of America from a “neutral” rating to a “buy” rating in a report released on Tuesday,Finviz reports. The brokerage currently has a $31.00 target price on the stock. Bank of America‘s price objective suggests a potential upside of 19.71% from the stock’s current price.

A number of other research firms have also weighed in on LBRT. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Liberty Energy in a research note on Thursday, January 15th. JPMorgan Chase & Co. raised shares of Liberty Energy from a “neutral” rating to an “overweight” rating and set a $24.00 price objective on the stock in a report on Wednesday, December 10th. Zacks Research upgraded Liberty Energy from a “strong sell” rating to a “hold” rating in a report on Monday, December 15th. Stifel Nicolaus boosted their price target on Liberty Energy from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, Wall Street Zen upgraded Liberty Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.17.

Liberty Energy Price Performance

Liberty Energy stock opened at $25.90 on Tuesday. Liberty Energy has a 12-month low of $9.50 and a 12-month high of $27.21. The firm has a 50-day moving average price of $20.88 and a 200-day moving average price of $16.31. The firm has a market capitalization of $4.20 billion, a PE ratio of 29.10 and a beta of 0.49. The company has a current ratio of 1.22, a quick ratio of 0.96 and a debt-to-equity ratio of 0.22.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Wednesday, January 28th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.21. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $880.59 million. Liberty Energy had a net margin of 3.69% and a return on equity of 1.24%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company posted $0.10 earnings per share. As a group, equities research analysts forecast that Liberty Energy will post 0.58 EPS for the current year.

Insider Activity

In related news, insider R Sean Elliott sold 25,000 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $25.40, for a total value of $635,000.00. Following the transaction, the insider owned 343,150 shares in the company, valued at approximately $8,716,010. This represents a 6.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Stock sold 25,000 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $25.38, for a total transaction of $634,500.00. Following the transaction, the chief financial officer directly owned 784,819 shares of the company’s stock, valued at approximately $19,918,706.22. This trade represents a 3.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of LBRT. Wellington Shields Capital Management LLC acquired a new stake in shares of Liberty Energy during the 2nd quarter worth approximately $29,000. Los Angeles Capital Management LLC purchased a new position in Liberty Energy in the fourth quarter valued at $29,000. Kelleher Financial Advisors acquired a new position in shares of Liberty Energy in the third quarter worth about $29,000. First Horizon Corp grew its position in shares of Liberty Energy by 58.2% during the 4th quarter. First Horizon Corp now owns 1,620 shares of the company’s stock valued at $30,000 after acquiring an additional 596 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in shares of Liberty Energy in the 4th quarter valued at about $32,000. 98.22% of the stock is owned by institutional investors and hedge funds.

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. 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.