Liberty Energy (NYSE:LBRT) Price Target Raised to $30.00

Liberty Energy (NYSE:LBRT) had its price target increased by The Goldman Sachs Group from $26.00 to $30.00 in a research note released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also recently issued reports on LBRT. Piper Sandler raised Liberty Energy from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $17.00 to $32.00 in a research report on Monday, February 2nd. Wall Street Zen upgraded Liberty Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Zacks Research raised Liberty Energy from a “strong sell” rating to a “hold” rating in a report on Monday, December 15th. UBS Group reiterated a “buy” rating and issued a $34.00 price target on shares of Liberty Energy in a research note on Friday, January 30th. Finally, Barclays raised their price objective on shares of Liberty Energy from $17.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.42.

Liberty Energy Trading Down 3.6%

Shares of NYSE:LBRT opened at $26.82 on Wednesday. Liberty Energy has a 52 week low of $9.50 and a 52 week high of $28.94. The company’s 50 day moving average is $23.37 and its two-hundred day moving average is $17.82. The company has a market cap of $4.35 billion, a PE ratio of 30.14 and a beta of 0.48. The company has a current ratio of 1.22, a quick ratio of 0.96 and a debt-to-equity ratio of 0.22.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data on Wednesday, January 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.21. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $880.59 million. Liberty Energy had a net margin of 3.69% and a return on equity of 1.24%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 EPS. Equities analysts predict that Liberty Energy will post 0.58 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $0.36 annualized dividend and a yield of 1.3%. Liberty Energy’s payout ratio is 40.45%.

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, Director Arjun N. Murti bought 9,696 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were acquired at an average cost of $25.79 per share, with a total value of $250,059.84. Following the acquisition, the director directly owned 27,568 shares of the company’s stock, valued at $710,978.72. The trade was a 54.25% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider R Sean Elliott sold 25,000 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $25.40, for a total transaction of $635,000.00. Following the completion of the sale, the insider owned 343,150 shares of the company’s stock, valued at approximately $8,716,010. This trade represents a 6.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LBRT. Vanguard Group Inc. increased its stake in Liberty Energy by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 18,096,443 shares of the company’s stock valued at $334,060,000 after purchasing an additional 97,998 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Liberty Energy by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,802,399 shares of the company’s stock worth $162,494,000 after buying an additional 189,829 shares during the period. Franklin Resources Inc. grew its holdings in shares of Liberty Energy by 78.5% during the third quarter. Franklin Resources Inc. now owns 8,575,840 shares of the company’s stock worth $105,826,000 after buying an additional 3,771,724 shares during the last quarter. American Century Companies Inc. increased its position in Liberty Energy by 28.2% in the 3rd quarter. American Century Companies Inc. now owns 7,809,390 shares of the company’s stock valued at $96,368,000 after acquiring an additional 1,716,007 shares during the period. Finally, Millennium Management LLC increased its position in Liberty Energy by 184.7% in the 4th quarter. Millennium Management LLC now owns 3,287,466 shares of the company’s stock valued at $60,687,000 after acquiring an additional 2,132,685 shares during the period. 98.22% of the stock is 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. As of as of December 31, 2023, the company owned and operated a fleet of approximately 40 active hydraulic fracturing; and two sand mines in the Permian Basin.