Liberty Energy (NYSE:LBRT) Given New $24.00 Price Target at Barclays

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

A number of other analysts also recently issued reports on the company. 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 report on Friday, July 19th. Bank of America lowered their price target on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Citigroup cut 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. Stifel Nicolaus lowered their target price on shares of Liberty Energy from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, October 11th. Finally, Piper Sandler dropped their target price on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Liberty Energy Stock Up 1.3 %

Shares of Liberty Energy stock opened at $20.06 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. Liberty Energy has a 52-week low of $16.69 and a 52-week high of $24.75. The company has a market capitalization of $3.34 billion, a P/E ratio of 7.32, a P/E/G ratio of 1.20 and a beta of 1.68. The company has a 50 day moving average of $20.13 and a 200 day moving average of $21.37.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data on Wednesday, July 17th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.87 EPS. As a group, research analysts forecast that Liberty Energy will post 2.14 EPS for the current fiscal year.

Liberty Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.08 dividend. This is an increase from Liberty Energy’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.32 annualized dividend and a yield of 1.60%. Liberty Energy’s dividend payout ratio is 10.22%.

Insider Buying and Selling

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. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $19.91, for a total transaction of $398,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,678,813 shares of the company’s stock, valued at approximately $53,335,166.83. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Stock sold 5,000 shares of Liberty Energy stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $21.01, for a total value of $105,050.00. Following the completion of the transaction, the chief financial officer now owns 745,207 shares in the company, valued at $15,656,799.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,000 shares of company stock worth $1,945,650 in the last 90 days. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Liberty Energy

Several institutional investors have recently bought and sold shares of the company. EdgeRock Capital LLC purchased a new stake in shares of Liberty Energy in the second quarter valued at about $32,000. GAMMA Investing LLC boosted its holdings in Liberty Energy by 69.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock valued at $36,000 after purchasing an additional 713 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Liberty Energy by 27.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock worth $59,000 after purchasing an additional 709 shares during the period. nVerses Capital LLC increased its position in Liberty Energy by 45.0% during the 2nd quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock worth $61,000 after purchasing an additional 900 shares during the period. Finally, CWM LLC raised its stake in shares of Liberty Energy by 43.3% during the 2nd quarter. CWM LLC now owns 6,213 shares of the company’s stock worth $130,000 after buying an additional 1,876 shares in the last quarter. 98.22% of the stock is 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.