Liberty Energy (NYSE:LBRT) PT Lowered to $24.00 at Wells Fargo & Company

Liberty Energy (NYSE:LBRT) had its price target lowered by Wells Fargo & Company from $25.00 to $24.00 in a research report released on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

LBRT has been the topic of several other reports. Piper Sandler lowered their price target on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Barclays lowered their target price on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. TD Cowen decreased their price target on Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Friday, July 19th. Stifel Nicolaus dropped their price objective on Liberty Energy from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Bank of America decreased their target price on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Six 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 company’s stock. According to MarketBeat, Liberty Energy has an average rating of “Moderate Buy” and an average price target of $22.70.

Liberty Energy Price Performance

Shares of NYSE LBRT opened at $17.54 on Friday. The company has a fifty day moving average price of $19.96 and a 200 day moving average price of $21.27. The firm has a market cap of $2.92 billion, a PE ratio of 6.40, a PEG ratio of 1.20 and a beta of 1.68. The company has a current ratio of 1.35, a quick ratio of 1.07 and a debt-to-equity ratio of 0.17. Liberty Energy has a 1-year low of $16.69 and a 1-year high of $24.75.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.10). Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the company earned $0.85 earnings per share. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. Research analysts predict that Liberty Energy will post 2.14 earnings per share for the current fiscal year.

Liberty Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.08 per share. This is an increase from Liberty Energy’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, December 6th. This represents a $0.32 annualized dividend and a dividend yield of 1.82%. Liberty Energy’s payout ratio is presently 11.68%.

Insider Buying and Selling at Liberty Energy

In other news, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $19.77, for a total transaction of $395,400.00. Following the completion of the sale, the chief executive officer now owns 2,638,813 shares in the company, valued at $52,169,333.01. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Michael Stock sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $21.01, for a total transaction of $105,050.00. Following the transaction, the chief financial officer now directly owns 745,207 shares of the company’s stock, valued at approximately $15,656,799.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $19.77, for a total transaction of $395,400.00. Following the completion of the sale, the chief executive officer now owns 2,638,813 shares of the company’s stock, valued at $52,169,333.01. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,000 shares of company stock valued at $1,945,650 in the last three months. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Liberty Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Well Done LLC grew its position in Liberty Energy by 14.3% during the third quarter. Well Done LLC now owns 16,028 shares of the company’s stock worth $306,000 after buying an additional 2,003 shares in the last quarter. AlphaMark Advisors LLC acquired a new stake in shares of Liberty Energy during the 3rd quarter worth $293,000. nVerses Capital LLC increased its position in shares of Liberty Energy by 279.3% in the third quarter. nVerses Capital LLC now owns 11,000 shares of the company’s stock worth $210,000 after purchasing an additional 8,100 shares during the period. Creative Planning lifted its position 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 purchasing an additional 703 shares during the period. Finally, Wesbanco Bank Inc. bought a new stake in Liberty Energy during the third quarter worth about $1,071,000. 98.22% of the stock is currently owned by institutional investors and hedge funds.

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.