Liberty Energy (NYSE:LBRT) Price Target Raised to $23.00

Liberty Energy (NYSE:LBRT) had its target price boosted by Bank of America from $20.00 to $23.00 in a report published on Monday, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts also recently weighed in on LBRT. Morgan Stanley upped their target price on 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 upped their target price on Liberty Energy from $27.00 to $28.00 and gave the stock an overweight rating in a research report on Friday, January 26th. Finally, Wells Fargo & Company decreased their target price on Liberty Energy from $25.00 to $24.00 and set an overweight rating for the company in a research report on Thursday, December 21st. Four equities 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.com, the company has an average rating of Moderate Buy and a consensus price target of $23.67.

Liberty Energy Price Performance

LBRT stock opened at $21.52 on Monday. The stock has a 50-day moving average price of $21.09 and a two-hundred day moving average price of $19.63. Liberty Energy has a 12-month low of $11.62 and a 12-month high of $23.23. The company has a current ratio of 1.49, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15. The company has a market cap of $3.59 billion, a PE ratio of 6.81, a price-to-earnings-growth ratio of 1.07 and a beta of 1.85.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). Liberty Energy had a net margin of 11.72% and a return on equity of 32.28%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the firm posted $0.82 EPS. Liberty Energy’s revenue was down 12.3% on a year-over-year basis. As a group, research analysts predict that Liberty Energy will post 2.64 EPS for the current year.

Liberty Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Tuesday, March 5th. Liberty Energy’s dividend payout ratio is currently 8.86%.

Insider Activity

In related news, insider R Sean Elliott sold 20,000 shares of Liberty Energy stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total value of $410,000.00. Following the completion of the transaction, the insider now directly owns 218,530 shares in the company, valued at $4,479,865. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Liberty Energy news, Director William F. Kimble sold 12,459 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $21.55, for a total transaction of $268,491.45. Following the sale, the director now directly owns 69,963 shares of the company’s stock, valued at $1,507,702.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R Sean Elliott sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total transaction of $410,000.00. Following the completion of the transaction, the insider now owns 218,530 shares in the company, valued at $4,479,865. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,459 shares of company stock worth $2,077,491. 3.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Liberty Energy

Several institutional investors and hedge funds have recently bought and sold shares of LBRT. Vanguard Group Inc. grew its holdings in shares of Liberty Energy by 4.5% during the third quarter. Vanguard Group Inc. now owns 20,546,529 shares of the company’s stock valued at $380,522,000 after purchasing an additional 893,563 shares during the last quarter. BlackRock Inc. increased its position in Liberty Energy by 10.3% in the second quarter. BlackRock Inc. now owns 14,720,744 shares of the company’s stock worth $196,816,000 after buying an additional 1,376,187 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Liberty Energy by 5.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 13,553,932 shares of the company’s stock valued at $172,948,000 after buying an additional 734,764 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Liberty Energy by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,443,849 shares of the company’s stock valued at $171,314,000 after acquiring an additional 404,211 shares during the period. Finally, Macquarie Group Ltd. grew its position in shares of Liberty Energy by 181.5% during the first quarter. Macquarie Group Ltd. now owns 8,085,410 shares of the company’s stock worth $103,574,000 after acquiring an additional 5,213,132 shares during the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

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.