Liberty Energy (NYSE:LBRT) Given New $26.00 Price Target at Stifel Nicolaus

Liberty Energy (NYSE:LBRT) had its price target cut by Stifel Nicolaus from $27.00 to $26.00 in a research report report published on Friday, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also commented on LBRT. Piper Sandler decreased their price objective on shares of Liberty Energy from $28.00 to $25.00 and set an overweight rating on the stock in a report on Monday, July 15th. TD Cowen decreased their price objective on shares of Liberty Energy from $21.00 to $20.00 and set a hold rating on the stock in a report on Friday, July 19th. Citigroup decreased their price objective on shares of Liberty Energy from $28.00 to $25.00 and set a buy rating on the stock in a report on Thursday, October 3rd. Barclays decreased their price objective on shares of Liberty Energy from $27.00 to $26.00 and set an overweight rating on the stock in a report on Tuesday, July 23rd. Finally, Bank of America decreased their price objective on shares of Liberty Energy from $24.00 to $22.00 and set a neutral rating on the stock in a report on Monday, July 15th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $24.20.

Liberty Energy Stock Performance

NYSE:LBRT opened at $20.45 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 1.07. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 8.15, a PEG ratio of 1.20 and a beta of 1.68. The company’s 50-day moving average is $20.13 and its two-hundred day moving average is $21.36. 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 earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. Liberty Energy’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 EPS. Analysts forecast that Liberty Energy will post 2.14 EPS for the current year.

Liberty Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $0.07 per share. The ex-dividend date was Friday, September 6th. This represents a $0.28 annualized dividend and a yield of 1.37%. Liberty Energy’s dividend payout ratio is currently 11.16%.

Insider Buying and Selling

In related news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction on Monday, September 16th. The shares were sold at an average price of $19.91, for a total transaction of $398,200.00. Following the sale, the chief executive officer now directly owns 2,678,813 shares in the company, valued at $53,335,166.83. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction on Monday, September 16th. The shares were sold at an average price of $19.91, for a total value of $398,200.00. Following the transaction, the chief executive officer now directly owns 2,678,813 shares in the company, valued at approximately $53,335,166.83. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Stock sold 15,000 shares of Liberty Energy stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $19.23, for a total transaction of $288,450.00. Following the completion of the sale, the chief financial officer now directly owns 730,207 shares in the company, valued at approximately $14,041,880.61. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,000 shares of company stock worth $1,945,650 in the last ninety days. 3.60% of the stock is owned by corporate insiders.

Institutional Trading of Liberty Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its holdings in Liberty Energy by 17.6% during 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 in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Liberty Energy by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 2,634,256 shares of the company’s stock valued at $55,030,000 after purchasing an additional 67,362 shares in the last quarter. Hennessy Advisors Inc. lifted its holdings in shares of Liberty Energy by 48.0% in the second quarter. Hennessy Advisors Inc. now owns 1,981,100 shares of the company’s stock valued at $41,385,000 after purchasing an additional 642,700 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Liberty Energy by 19.5% in the second quarter. LSV Asset Management now owns 1,717,591 shares of the company’s stock valued at $35,880,000 after purchasing an additional 280,550 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Liberty Energy by 34.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,498,921 shares of the company’s stock valued at $31,312,000 after purchasing an additional 381,841 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

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.