Why These Energy Stocks are Losing This Week

8. Liberty Energy Inc. (NYSE:LBRT)

Share Price Decline Between July 11 – July 18: 8.98%

Liberty Energy Inc. (NYSE:LBRT) is a leading North American oilfield services firm with operations in major shale formations across the US and Canada.

Liberty Energy Inc. (NYSE:LBRT) is under pressure following a broader downturn in the oilfield services industry amid concerns of a pullback in exploration and production spending. The United States has witnessed a sharp decline in drilling activity over the last few weeks due to the falling crude oil prices, economic uncertainty, and the impact of President Trump’s trade war.

Moreover, Liberty Energy Inc. (NYSE:LBRT) suffered a setback this week after Stifel lowered the stock’s price target from $22 to $20, citing the underperformance of the oilfield services stocks compared to the broader market.