Citigroup Cuts Liberty Energy (NYSE:LBRT) Price Target to $13.50

Liberty Energy (NYSE:LBRT) had its price target cut by Citigroup from $16.00 to $13.50 in a report released on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts also recently commented on LBRT. Wells Fargo & Company reiterated an “equal weight” rating and issued a $11.00 price objective (down previously from $20.00) on shares of Liberty Energy in a report on Tuesday, April 8th. Royal Bank of Canada lowered Liberty Energy from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $24.00 to $19.00 in a research note on Monday, March 24th. Seaport Res Ptn raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Sunday, January 5th. TD Cowen boosted their price target on shares of Liberty Energy from $10.00 to $13.00 and gave the company a “hold” rating in a research report on Monday. Finally, Barclays cut their price objective on shares of Liberty Energy from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Tuesday. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.05.

Liberty Energy Stock Performance

Shares of NYSE:LBRT opened at $12.17 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.27 and a quick ratio of 0.97. Liberty Energy has a 1 year low of $9.50 and a 1 year high of $24.75. The firm has a market capitalization of $1.97 billion, a PE ratio of 6.51 and a beta of 1.18. The business’s 50 day moving average price is $14.37 and its 200-day moving average price is $17.41.

Liberty Energy (NYSE:LBRT) last announced its earnings results on Wednesday, April 16th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. The company had revenue of $977.46 million for the quarter, compared to analysts’ expectations of $960.64 million. Liberty Energy had a net margin of 7.32% and a return on equity of 14.28%. During the same quarter in the previous year, the company posted $0.48 EPS. As a group, equities research analysts expect 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 Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Friday, June 6th. Liberty Energy’s dividend payout ratio (DPR) is 21.19%.

Insider Transactions at Liberty Energy

In other news, CFO Michael Stock sold 10,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $17.94, for a total transaction of $179,400.00. Following the sale, the chief financial officer now owns 717,292 shares of the company’s stock, valued at approximately $12,868,218.48. This represents a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Liberty Energy

Several large investors have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC grew its stake in shares of Liberty Energy by 257.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,197 shares of the company’s stock worth $47,000 after acquiring an additional 1,583 shares in the last quarter. Blue Trust Inc. boosted its holdings in Liberty Energy by 604.9% in the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the company’s stock valued at $47,000 after purchasing an additional 2,111 shares during the period. Spire Wealth Management purchased a new position in Liberty Energy in the fourth quarter valued at $60,000. Smartleaf Asset Management LLC grew its stake in Liberty Energy by 176.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,423 shares of the company’s stock worth $67,000 after purchasing an additional 2,184 shares in the last quarter. Finally, Lee Danner & Bass Inc. purchased a new stake in Liberty Energy during the 4th quarter worth about $99,000. 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.