Liberty Energy Inc. (NYSE:LBRT) Receives $22.70 Consensus Price Target from Analysts

Liberty Energy Inc. (NYSE:LBRT) has earned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $22.89.

A number of equities analysts have commented on LBRT shares. Wells Fargo & Company dropped their price objective on shares of Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. TD Cowen dropped their price target 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. Atb Cap Markets lowered shares of Liberty Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Barclays reduced their target price on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, Bank of America decreased their price objective on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, July 15th.

Liberty Energy Stock Performance

Shares of NYSE LBRT opened at $17.74 on Tuesday. The firm’s fifty day moving average is $19.79 and its two-hundred day moving average is $21.18. Liberty Energy has a 52-week low of $16.69 and a 52-week high of $24.75. The company has a market cap of $2.96 billion, a P/E ratio of 6.47, a P/E/G ratio of 1.20 and a beta of 1.68. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.10). Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the firm posted $0.85 earnings per share. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, analysts anticipate that Liberty Energy will post 2.14 EPS for the current fiscal year.

Liberty Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors 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 dividend yield of 1.80%. The ex-dividend date of this dividend is Friday, December 6th. This is a boost from Liberty Energy’s previous quarterly dividend of $0.07. Liberty Energy’s dividend payout ratio (DPR) is 11.68%.

Insider Activity

In related news, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $19.91, for a total value of $398,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,678,813 shares in the company, valued at $53,335,166.83. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $19.91, for a total transaction of $398,200.00. Following the transaction, the chief executive officer now owns 2,678,813 shares in the company, valued at $53,335,166.83. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael Stock sold 5,000 shares of Liberty Energy stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $21.01, for a total transaction of $105,050.00. Following the completion of the sale, the chief financial officer now owns 745,207 shares in the company, valued at approximately $15,656,799.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,000 shares of company stock valued at $1,945,650 in the last quarter. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Liberty Energy

A number of large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in Liberty Energy by 27.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock worth $59,000 after buying an additional 709 shares during the last quarter. Hennessy Advisors Inc. raised its position in Liberty Energy by 14.1% in the 1st quarter. Hennessy Advisors Inc. now owns 1,338,400 shares of the company’s stock valued at $27,732,000 after purchasing an additional 165,400 shares in the last quarter. Diversified Trust Co raised its holdings in Liberty Energy by 2.5% in the first quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock valued at $427,000 after acquiring an additional 507 shares in the last quarter. AlphaMark Advisors LLC acquired a new stake in shares of Liberty Energy in the 1st quarter valued at $348,000. Finally, Edge Financial Advisors LLC purchased a new stake in Liberty Energy during the 1st quarter worth about $253,000. Hedge funds and other institutional investors 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.