Liberty Energy (NYSE:LBRT) PT Lowered to $24.00

Liberty Energy (NYSE:LBRT) had its price target reduced by Barclays from $26.00 to $24.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also weighed in on LBRT. Citigroup reduced their price target on shares of Liberty Energy from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Bank of America cut their target price on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Stifel Nicolaus lowered their price target on Liberty Energy from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Piper Sandler cut their price objective on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, TD Cowen lowered their target price on Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Friday, July 19th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.70.

Liberty Energy Stock Down 3.3 %

Shares of Liberty Energy stock opened at $17.69 on Wednesday. Liberty Energy has a 1-year low of $16.69 and a 1-year high of $24.75. The company has a market capitalization of $2.95 billion, a P/E ratio of 6.46, a PEG ratio of 1.20 and a beta of 1.68. The business’s fifty day moving average price is $20.03 and its two-hundred day moving average price is $21.32. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 1.07.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. Liberty Energy’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 earnings per share. As a group, research analysts forecast that Liberty Energy will post 2.14 EPS 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 paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.32 dividend on an annualized basis and a yield of 1.81%. This is a boost from Liberty Energy’s previous quarterly dividend of $0.07. Liberty Energy’s dividend payout ratio (DPR) is currently 11.68%.

Insider Buying and Selling at Liberty Energy

In other news, CFO Michael Stock sold 20,000 shares of Liberty Energy stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $22.92, for a total value of $458,400.00. Following the transaction, the chief financial officer now directly owns 765,207 shares of the company’s stock, valued at $17,538,544.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders sold 95,000 shares of company stock valued at $1,945,650. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Liberty Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC purchased a new stake in shares of Liberty Energy during the first quarter worth $27,809,000. Hennessy Advisors Inc. raised its stake in shares of Liberty Energy by 48.0% during the 2nd quarter. Hennessy Advisors Inc. now owns 1,981,100 shares of the company’s stock worth $41,385,000 after purchasing an additional 642,700 shares in the last quarter. American Century Companies Inc. increased its holdings in Liberty Energy by 17.6% in the second quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock worth $82,754,000 after buying an additional 594,051 shares during the last quarter. LSV Asset Management lifted its stake in Liberty Energy by 60.2% in the first quarter. LSV Asset Management now owns 1,437,041 shares of the company’s stock valued at $29,775,000 after acquiring an additional 539,861 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Liberty Energy by 345.4% in the second quarter. Canada Pension Plan Investment Board now owns 573,200 shares of the company’s stock worth $11,974,000 after acquiring an additional 444,500 shares in the last quarter. Hedge funds and other 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.