Liberty Energy (NYSE:LBRT) Given New $21.00 Price Target at TD Cowen

Liberty Energy (NYSE:LBRT) had its target price increased by TD Cowen from $19.00 to $21.00 in a research report report published on Friday, Marketbeat.com reports. The brokerage currently has a hold rating on the stock.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company dropped their price objective on shares of Liberty Energy from $25.00 to $24.00 and set an overweight rating on the stock in a research report on Thursday, December 21st. Bank of America increased their price objective on shares of Liberty Energy from $20.00 to $23.00 and gave the company a neutral rating in a research report on Monday, April 15th. Morgan Stanley increased their price objective on shares of Liberty Energy from $23.00 to $24.00 and gave the company an equal weight rating in a research report on Monday, January 29th. Finally, Piper Sandler increased their target price on shares of Liberty Energy from $27.00 to $28.00 and gave the company an overweight rating in a research report on Friday, January 26th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Liberty Energy has an average rating of Moderate Buy and a consensus target price of $24.30.

Liberty Energy Price Performance

Shares of LBRT opened at $22.37 on Friday. Liberty Energy has a fifty-two week low of $11.62 and a fifty-two week high of $23.31. The firm’s 50 day moving average price is $21.20 and its 200 day moving average price is $19.68. The company has a market cap of $3.73 billion, a P/E ratio of 8.16, a PEG ratio of 1.08 and a beta of 1.85. The company has a quick ratio of 1.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.09.

Liberty Energy (NYSE:LBRT) last announced its earnings results on Thursday, April 18th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.06). Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the company earned $0.90 earnings per share. Liberty Energy’s quarterly revenue was down 12.8% on a year-over-year basis. On average, research analysts forecast that Liberty Energy will post 2.61 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, June 5th. Liberty Energy’s dividend payout ratio is currently 10.22%.

Insider Buying and Selling

In related news, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $20.27, for a total transaction of $405,400.00. Following the completion of the sale, the chief executive officer now owns 2,830,402 shares in the company, valued at approximately $57,372,248.54. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $20.27, for a total transaction of $405,400.00. Following the completion of the sale, the chief executive officer now owns 2,830,402 shares in the company, valued at approximately $57,372,248.54. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William F. Kimble sold 12,459 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $21.55, for a total transaction of $268,491.45. Following the sale, the director now owns 69,963 shares of the company’s stock, valued at approximately $1,507,702.65. The disclosure for this sale can be found here. Insiders sold a total of 98,459 shares of company stock worth $2,077,491 in the last 90 days. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Liberty Energy

Hedge funds have recently made changes to their positions in the company. EdgeRock Capital LLC acquired a new stake in shares of Liberty Energy in the 4th quarter worth $27,000. Principal Securities Inc. acquired a new stake in shares of Liberty Energy in the 4th quarter worth $39,000. Quadrant Capital Group LLC lifted its stake in shares of Liberty Energy by 70.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock worth $53,000 after acquiring an additional 1,206 shares during the period. KBC Group NV acquired a new stake in shares of Liberty Energy in the 4th quarter worth $55,000. Finally, West Tower Group LLC acquired a new stake in shares of Liberty Energy in the 4th quarter worth $56,000. Institutional investors and hedge funds 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.