TD Cowen Increases Liberty Energy (NYSE:LBRT) Price Target to $21.00

Liberty Energy (NYSE:LBRT) had its price objective hoisted by TD Cowen from $19.00 to $21.00 in a research report released on Friday morning, MarketBeat reports. TD Cowen currently has a hold rating on the stock.

A number of other equities analysts have also issued reports on the stock. Morgan Stanley increased their target price on shares of Liberty Energy from $23.00 to $24.00 and gave the company an equal weight rating in a research report on Monday, January 29th. Wells Fargo & Company decreased their target price on shares of Liberty Energy from $25.00 to $24.00 and set an overweight rating for the company in a research report on Thursday, December 21st. Piper Sandler increased their target price on shares of Liberty Energy from $27.00 to $28.00 and gave the company an overweight rating in a research report on Friday, January 26th. Finally, Bank of America increased 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, April 15th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Liberty Energy presently has an average rating of Moderate Buy and an average price target of $24.30.

Liberty Energy Stock Up 1.2 %

LBRT stock opened at $22.37 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.09. Liberty Energy has a fifty-two week low of $11.62 and a fifty-two week high of $23.31. The firm’s 50-day simple moving average is $21.20 and its 200 day simple moving average is $19.68. The stock has a market cap of $3.73 billion, a PE ratio of 8.16, a price-to-earnings-growth ratio of 1.08 and a beta of 1.85.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data on Thursday, April 18th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The firm’s revenue was down 12.8% on a year-over-year basis. During the same period last year, the business earned $0.90 EPS. As a group, sell-side analysts predict that Liberty Energy will post 2.61 EPS for the current year.

Liberty Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $0.28 annualized dividend and a dividend yield of 1.25%. Liberty Energy’s dividend payout ratio (DPR) is 10.22%.

Insiders Place Their Bets

In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $20.27, for a total value of $405,400.00. Following the completion of the transaction, the chief executive officer now directly owns 2,830,402 shares in the company, valued at $57,372,248.54. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Liberty Energy news, CAO Ryan T. Gosney sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total value of $123,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 140,706 shares in the company, valued at $2,884,473. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $20.27, for a total transaction of $405,400.00. Following the completion of the transaction, the chief executive officer now owns 2,830,402 shares of the company’s stock, valued at $57,372,248.54. The disclosure for this sale can be found here. Insiders sold a total of 98,459 shares of company stock worth $2,077,491 over the last ninety days. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of Liberty Energy

Hedge funds have recently made changes to their positions in the stock. EdgeRock Capital LLC purchased a new stake in shares of Liberty Energy in the fourth quarter worth approximately $27,000. Principal Securities Inc. purchased a new stake in shares of Liberty Energy in the fourth quarter worth approximately $39,000. Quadrant Capital Group LLC lifted its position in shares of Liberty Energy by 70.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock worth $53,000 after purchasing an additional 1,206 shares in the last quarter. KBC Group NV purchased a new stake in shares of Liberty Energy in the fourth quarter worth approximately $55,000. Finally, West Tower Group LLC purchased a new stake in shares of Liberty Energy in the fourth quarter worth approximately $56,000. 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.