Brokerages Set Liberty Energy Inc. (NYSE:LBRT) Price Target at $24.78

Liberty Energy Inc. (NYSE:LBRT) has earned an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $24.78.

A number of analysts recently issued reports on the stock. Piper Sandler decreased 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. Barclays lowered their price objective on Liberty Energy from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. TD Cowen reduced their target price on Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday, July 19th. Citigroup raised Liberty Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $24.00 to $32.00 in a research note on Wednesday, May 29th. Finally, Bank of America dropped their price objective 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.

Insider Buying and Selling at Liberty Energy

In other news, 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 value 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 $16,439,076.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Michael Stock sold 15,626 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $20.82, for a total value 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 $16,439,076.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $20.26, for a total value of $405,200.00. Following the sale, the chief executive officer now owns 2,758,813 shares in the company, valued at $55,893,551.38. The disclosure for this sale can be found here. Insiders have sold a total of 75,000 shares of company stock valued at $1,580,981 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LBRT. CWM LLC lifted its holdings in Liberty Energy by 30.8% in the 4th quarter. CWM LLC now owns 4,141 shares of the company’s stock worth $75,000 after buying an additional 975 shares in the last quarter. Truist Financial Corp increased its position in shares of Liberty Energy by 395.9% during the fourth quarter. Truist Financial Corp now owns 59,383 shares of the company’s stock worth $1,077,000 after acquiring an additional 47,409 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Liberty Energy by 28.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 54,062 shares of the company’s stock worth $981,000 after acquiring an additional 11,870 shares in the last quarter. LSV Asset Management boosted its holdings in Liberty Energy by 522.2% in the fourth quarter. LSV Asset Management now owns 897,180 shares of the company’s stock valued at $16,275,000 after purchasing an additional 752,980 shares during the last quarter. Finally, EdgeRock Capital LLC acquired a new stake in Liberty Energy during the 4th quarter valued at approximately $27,000. 98.22% of the stock is owned by institutional investors and hedge funds.

Liberty Energy Stock Down 0.5 %

Shares of NYSE:LBRT opened at $19.15 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $3.19 billion, a P/E ratio of 6.99, a P/E/G ratio of 1.21 and a beta of 1.68. Liberty Energy has a 52-week low of $16.33 and a 52-week high of $24.75. The stock’s fifty day simple moving average is $20.91 and its 200-day simple moving average is $21.53.

Liberty Energy (NYSE:LBRT) last released its earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the firm earned $0.87 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Liberty Energy will post 2.17 earnings per share for the current fiscal 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 given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Friday, September 6th. Liberty Energy’s dividend payout ratio (DPR) is presently 10.22%.

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.