Liberty Energy Inc. (NYSE:LBRT) Receives $24.78 Average Price Target from Brokerages

Liberty Energy Inc. (NYSE:LBRT) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $24.78.

A number of research analysts have recently issued reports on LBRT shares. Bank of America dropped their price target on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. TD Cowen cut their price target on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday, July 19th. Piper Sandler lowered their price objective on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, Barclays cut their target price on Liberty Energy from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd.

Liberty Energy Stock Performance

Shares of Liberty Energy stock opened at $19.95 on Friday. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 7.28, a P/E/G ratio of 1.24 and a beta of 1.68. The company has a quick ratio of 1.07, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. Liberty Energy has a twelve month low of $16.33 and a twelve month high of $24.75. The company’s fifty day moving average is $20.53 and its 200 day moving average is $21.39.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.87 earnings per share. Sell-side analysts forecast that Liberty Energy will post 2.18 EPS for the current year.

Liberty Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.40%. Liberty Energy’s dividend payout ratio is 10.22%.

Insider Transactions at Liberty Energy

In other Liberty Energy 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 transaction of $398,200.00. Following the completion of the sale, the chief executive officer now owns 2,678,813 shares in the company, valued at approximately $53,335,166.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 value of $398,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,678,813 shares of the company’s stock, valued at $53,335,166.83. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Michael Stock sold 15,000 shares of Liberty Energy stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $20.01, for a total value of $300,150.00. Following the transaction, the chief financial officer now directly owns 750,207 shares in the company, valued at approximately $15,011,642.07. The disclosure for this sale can be found here. Insiders have sold 64,374 shares of company stock valued at $1,353,698 over the last ninety days. 3.60% of the stock is owned by company insiders.

Institutional Trading of Liberty Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. American Century Companies Inc. grew its position in Liberty Energy by 17.6% in the 2nd 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 in the last quarter. Bank of New York Mellon Corp lifted its holdings in Liberty Energy by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 2,634,256 shares of the company’s stock worth $55,030,000 after acquiring an additional 67,362 shares during the period. Hennessy Advisors Inc. boosted its position in Liberty Energy by 48.0% in the second quarter. Hennessy Advisors Inc. now owns 1,981,100 shares of the company’s stock worth $41,385,000 after purchasing an additional 642,700 shares during the last quarter. LSV Asset Management grew its stake in Liberty Energy by 19.5% in the 2nd quarter. LSV Asset Management now owns 1,717,591 shares of the company’s stock valued at $35,880,000 after purchasing an additional 280,550 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Liberty Energy by 34.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,498,921 shares of the company’s stock valued at $31,312,000 after purchasing an additional 381,841 shares during the last quarter. 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.