Liberty Energy (NYSE:LBRT) Price Target Cut to $20.00

Liberty Energy (NYSE:LBRT) had its target price trimmed by TD Cowen from $21.00 to $20.00 in a research report report published on Friday morning, Marketbeat Ratings reports. The brokerage currently has a hold rating on the stock.

Several other research analysts have also recently weighed in on the stock. Citigroup upgraded shares of Liberty Energy from a neutral rating to a buy rating and upped their price target for the company from $24.00 to $32.00 in a report on Wednesday, May 29th. Bank of America reduced their price target on shares of Liberty Energy from $24.00 to $22.00 and set a neutral rating for the company in a report on Monday, July 15th. Morgan Stanley reiterated an equal weight rating and issued a $24.00 price target on shares of Liberty Energy in a report on Monday, April 22nd. Wells Fargo & Company upped their price target on shares of Liberty Energy from $24.00 to $26.00 and gave the company an overweight rating in a report on Friday, April 19th. Finally, Barclays increased their target price on shares of Liberty Energy from $25.00 to $27.00 and gave the stock an overweight rating in a report on Friday, April 19th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $24.89.

Liberty Energy Stock Down 4.2 %

Shares of NYSE:LBRT opened at $21.54 on Friday. The company has a market capitalization of $3.59 billion, a PE ratio of 7.86, a PEG ratio of 1.24 and a beta of 1.74. Liberty Energy has a 52 week low of $14.75 and a 52 week high of $24.75. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.16 and a current ratio of 1.35. The company has a 50 day moving average price of $21.95 and a two-hundred day moving average price of $21.08.

Liberty Energy (NYSE:LBRT) last released its quarterly 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 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 business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.87 earnings per share. Analysts forecast that Liberty Energy will post 2.19 earnings per share for the current year.

Liberty Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Friday, September 6th. Liberty Energy’s payout ratio is 10.22%.

Insider Buying and Selling

In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $20.26, for a total value of $405,200.00. Following the completion of the sale, the chief executive officer now owns 2,758,813 shares in the company, valued at $55,893,551.38. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $20.26, for a total value of $405,200.00. Following the completion of the sale, the chief executive officer now owns 2,758,813 shares in the company, valued at $55,893,551.38. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael Stock sold 15,626 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $20.82, for a total transaction of $325,333.32. Following the completion of the sale, the chief financial officer now owns 789,581 shares of the company’s stock, valued at approximately $16,439,076.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 176,000 shares of company stock worth $3,932,731. 3.60% of the stock is owned by insiders.

Institutional Trading of Liberty Energy

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Liberty Energy by 4.5% in the third quarter. Vanguard Group Inc. now owns 20,546,529 shares of the company’s stock valued at $380,522,000 after purchasing an additional 893,563 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Liberty Energy by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,443,849 shares of the company’s stock valued at $171,314,000 after purchasing an additional 404,211 shares during the period. Pacer Advisors Inc. raised its position in shares of Liberty Energy by 93.9% in the fourth quarter. Pacer Advisors Inc. now owns 4,587,073 shares of the company’s stock valued at $83,210,000 after purchasing an additional 2,221,588 shares during the period. LSV Asset Management raised its position in shares of 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 purchasing an additional 539,861 shares during the period. Finally, Lord Abbett & CO. LLC bought a new position in shares of Liberty Energy in the first quarter valued at about $27,809,000. 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.