Liberty Energy (NYSE:LBRT) Price Target Lowered to $23.00 at Royal Bank of Canada

Liberty Energy (NYSE:LBRT) had its price objective reduced by Royal Bank of Canada from $26.00 to $23.00 in a report issued on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other equities research analysts also recently issued reports on LBRT. Stifel Nicolaus decreased their price target on Liberty Energy from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, October 11th. Barclays cut their price objective on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday. Bank of America lowered their target price 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. Citigroup cut shares of Liberty Energy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $25.00 to $19.00 in a report on Friday. Finally, Piper Sandler decreased their price objective on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.70.

Liberty Energy Stock Performance

LBRT opened at $17.70 on Friday. Liberty Energy has a 1-year low of $16.69 and a 1-year high of $24.75. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 6.46, a PEG ratio of 1.20 and a beta of 1.68. The company’s fifty day moving average price is $20.03 and its two-hundred day moving average price is $21.32. The company has a current ratio of 1.35, a quick ratio of 1.07 and a debt-to-equity ratio of 0.17.

Liberty Energy (NYSE:LBRT) last posted its earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The company’s revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. On average, analysts expect that Liberty Energy will post 2.14 EPS for the current fiscal year.

Liberty Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.81%. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, December 6th. Liberty Energy’s dividend payout ratio is 11.68%.

Insider Buying and Selling at Liberty Energy

In other news, CFO Michael Stock sold 20,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $22.92, for a total transaction of $458,400.00. Following the completion of the transaction, the chief financial officer now owns 765,207 shares in the company, valued at approximately $17,538,544.44. This 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 this hyperlink. Insiders have sold a total of 95,000 shares of company stock worth $1,945,650 over the last ninety days. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of Liberty Energy

A number of institutional investors have recently modified their holdings of LBRT. EdgeRock Capital LLC purchased a new position in Liberty Energy in the 2nd quarter valued at approximately $32,000. GAMMA Investing LLC boosted its holdings in shares of Liberty Energy by 69.2% in the second quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock worth $36,000 after acquiring an additional 713 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Liberty Energy by 27.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after purchasing an additional 709 shares in the last quarter. nVerses Capital LLC raised its stake in shares of Liberty Energy by 45.0% during the 2nd quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock valued at $61,000 after purchasing an additional 900 shares during the period. Finally, CWM LLC lifted its holdings in 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 purchasing an additional 1,876 shares in the last quarter. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

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.