Liberty Energy (NYSE:LBRT) Price Target Raised to $27.00

Liberty Energy (NYSE:LBRT) had its price target raised by Barclays from $25.00 to $27.00 in a research report released on Friday, Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler lifted their target price on shares of Liberty Energy from $27.00 to $28.00 and gave the stock an overweight rating in a research report on Friday, January 26th. Wells Fargo & Company boosted their price objective on shares of Liberty Energy from $24.00 to $26.00 and gave the company an overweight rating in a research report on Friday. TD Cowen boosted their price objective on shares of Liberty Energy from $19.00 to $21.00 and gave the company a hold rating in a research report on Friday. Bank of America boosted their price objective 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. Finally, Morgan Stanley boosted their price objective 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. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $24.30.

Liberty Energy Price Performance

Shares of NYSE LBRT opened at $22.12 on Friday. Liberty Energy has a twelve month low of $11.62 and a twelve month high of $23.31. The firm has a market cap of $3.69 billion, a P/E ratio of 8.07, a PEG ratio of 1.11 and a beta of 1.85. The company has a 50 day moving average of $21.20 and a 200 day moving average of $19.71. The company has a quick ratio of 1.16, a current ratio of 1.48 and a debt-to-equity ratio of 0.17.

Liberty Energy (NYSE:LBRT) last announced 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). Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the firm earned $0.90 earnings per share. Liberty Energy’s revenue was down 12.8% on a year-over-year basis. As a group, research analysts expect that Liberty Energy will post 2.58 EPS for the current fiscal year.

Liberty Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, June 5th. Liberty Energy’s payout ratio is currently 10.22%.

Insider Activity

In other news, insider R Sean Elliott sold 20,000 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total transaction of $410,000.00. Following the sale, the insider now directly owns 218,530 shares in the company, valued at approximately $4,479,865. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Ryan T. Gosney sold 6,000 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total transaction of $123,000.00. Following the sale, the chief accounting officer now directly owns 140,706 shares in the company, valued at approximately $2,884,473. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R Sean Elliott sold 20,000 shares of the 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 sale, the insider now directly owns 218,530 shares in the company, valued at $4,479,865. The disclosure for this sale can be found here. In the last three months, 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 Trading of Liberty Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Liberty Energy by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 20,546,529 shares of the company’s stock worth $380,522,000 after purchasing an additional 893,563 shares during the period. Dimensional Fund Advisors LP raised its position in Liberty Energy by 4.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,443,849 shares of the company’s stock worth $171,314,000 after purchasing an additional 404,211 shares during the period. Pacer Advisors Inc. raised its position in Liberty Energy by 93.9% in the 4th quarter. Pacer Advisors Inc. now owns 4,587,073 shares of the company’s stock worth $83,210,000 after purchasing an additional 2,221,588 shares during the period. Bank of New York Mellon Corp grew its stake in Liberty Energy by 53.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,244,480 shares of the company’s stock worth $41,568,000 after acquiring an additional 778,111 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Liberty Energy by 12.4% in the 3rd quarter. American Century Companies Inc. now owns 2,241,076 shares of the company’s stock worth $41,505,000 after acquiring an additional 247,074 shares in the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.

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.