Liberty Energy (NYSE:LBRT) Price Target Cut to $16.00 by Analysts at TD Cowen

Liberty Energy (NYSE:LBRT) had its price objective cut by TD Cowen from $18.00 to $16.00 in a report released on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

A number of other equities research analysts also recently weighed in on LBRT. Seaport Res Ptn raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a research report on Sunday. The Goldman Sachs Group assumed coverage on Liberty Energy in a research note on Friday, December 13th. They issued a “neutral” rating and a $19.00 target price for the company. Barclays lowered their price target on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Evercore ISI raised shares of Liberty Energy to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada decreased their target price on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.20.

Liberty Energy Stock Performance

Shares of NYSE LBRT opened at $21.34 on Wednesday. Liberty Energy has a 12 month low of $16.57 and a 12 month high of $24.75. The company has a market cap of $3.49 billion, a P/E ratio of 10.16 and a beta of 1.66. The business’s 50 day moving average is $18.48 and its two-hundred day moving average is $19.65. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17.

Liberty Energy (NYSE:LBRT) last announced its earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the firm posted $0.85 EPS. The company’s revenue was down 6.4% compared to the same quarter last year. On average, equities analysts expect that Liberty Energy will post 1.72 EPS for the current year.

Liberty Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, December 6th. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a yield of 1.50%. Liberty Energy’s dividend payout ratio is 15.24%.

Insider Activity at Liberty Energy

In other news, CEO Christopher A. Wright sold 2,037 shares of Liberty Energy stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $18.15, for a total value of $36,971.55. Following the completion of the sale, the chief executive officer now directly owns 2,578,813 shares of the company’s stock, valued at approximately $46,805,455.95. This trade represents a 0.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Stock sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $18.45, for a total value of $92,250.00. Following the transaction, the chief financial officer now directly owns 720,207 shares in the company, valued at $13,287,819.15. This trade represents a 0.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,973 shares of company stock valued at $1,471,335 in the last three months. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Liberty Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in LBRT. FMR LLC boosted its stake in shares of Liberty Energy by 17.1% in the 3rd quarter. FMR LLC now owns 18,115,282 shares of the company’s stock valued at $345,821,000 after purchasing an additional 2,640,119 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Liberty Energy by 61.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,146,179 shares of the company’s stock valued at $60,061,000 after purchasing an additional 1,193,918 shares during the period. Pacer Advisors Inc. boosted its position in shares of Liberty Energy by 15.9% in the 3rd quarter. Pacer Advisors Inc. now owns 7,012,382 shares of the company’s stock worth $133,866,000 after purchasing an additional 963,068 shares during the last quarter. Canoe Financial LP boosted its position in shares of Liberty Energy by 20.4% in the 3rd quarter. Canoe Financial LP now owns 4,124,695 shares of the company’s stock worth $79,408,000 after purchasing an additional 699,500 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Liberty Energy by 17.6% during the second quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock worth $82,754,000 after purchasing an additional 594,051 shares during the period. 98.22% of the stock is owned by institutional investors.

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.