Liberty Energy (NYSE:LBRT) Hits New 52-Week Low – What’s Next?

Liberty Energy Inc. (NYSE:LBRT)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $16.64 and last traded at $16.72, with a volume of 997008 shares traded. The stock had previously closed at $17.07.

Analyst Upgrades and Downgrades

LBRT has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Barclays reduced their target price on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Piper Sandler reduced their target price on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. TD Cowen reduced their target price on Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. Finally, Citigroup lowered Liberty Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $25.00 to $19.00 in a research note on Friday, October 18th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.89.

Liberty Energy Trading Down 2.6 %

The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 8.07, a P/E/G ratio of 1.25 and a beta of 1.68. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 1.23. The business has a fifty day moving average price of $19.49 and a 200 day moving average price of $21.00.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.10). Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. As a group, equities analysts forecast that Liberty Energy Inc. will post 1.75 earnings per share for the current year.

Liberty Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.08 dividend. This is an increase from Liberty Energy’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Friday, December 6th. Liberty Energy’s dividend payout ratio is currently 13.33%.

Insider Activity at Liberty Energy

In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $19.91, for a total value of $398,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,678,813 shares of the company’s stock, valued at $53,335,166.83. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $19.91, for a total value of $398,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,678,813 shares of the company’s stock, valued at $53,335,166.83. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael Stock sold 15,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $20.01, for a total transaction of $300,150.00. Following the transaction, the chief financial officer now directly owns 750,207 shares in the company, valued at $15,011,642.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 75,000 shares of company stock worth $1,487,250. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Liberty Energy

Large investors have recently modified their holdings of the stock. Diversified Trust Co raised its stake in Liberty Energy by 2.5% during the first quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock worth $427,000 after acquiring an additional 507 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in Liberty Energy by 4.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 14,262 shares of the company’s stock worth $296,000 after acquiring an additional 543 shares during the period. Andina Capital Management LLC raised its stake in Liberty Energy by 3.9% during the second quarter. Andina Capital Management LLC now owns 18,599 shares of the company’s stock worth $389,000 after acquiring an additional 691 shares during the period. Creative Planning raised its stake in Liberty Energy by 3.7% during the third quarter. Creative Planning now owns 19,456 shares of the company’s stock worth $371,000 after acquiring an additional 703 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in Liberty Energy by 27.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock worth $59,000 after acquiring an additional 709 shares during the period. Institutional investors own 98.22% of the company’s stock.

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.