Liberty Energy: Underperforming Peers Amid Operational Challenges and Cyclical Fluctuations

Liberty Energy's stock has underperformed its peers, with a 1.9% decline over the past year, compared to a flat performance in the Oil & Gas-Field Services sub-industry and a 1.2% gain in the broader Oil-Energy sector. The company faces challenges such as near-term margin compression, heavy capital expenditures amid a cyclical trough, and uncertain timing and conversion of power contracts. These factors have led to a weaker performance compared to competitors like Archrock and ProPetro Holding.