Liberty Energy (NYSE:LBRT) Price Target Raised to $21.00 at TD Cowen

Liberty Energy (NYSE:LBRT) had its price target raised by TD Cowen from $19.00 to $21.00 in a research note released on Friday, MarketBeat.com reports. They currently have a hold rating on the stock.

Several other research analysts have also recently weighed in on the stock. Bank of America boosted their price target on shares of Liberty Energy from $20.00 to $23.00 and gave the company a neutral rating in a research report on Monday, April 15th. Wells Fargo & Company lowered their price target on shares of Liberty Energy from $25.00 to $24.00 and set an overweight rating on the stock in a research report on Thursday, December 21st. Morgan Stanley boosted their price target on shares of Liberty Energy from $23.00 to $24.00 and gave the company an equal weight rating in a research report on Monday, January 29th. Finally, Piper Sandler upped their target price on shares of Liberty Energy from $27.00 to $28.00 and gave the company an overweight rating in a research report on Friday, January 26th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $24.30.

Liberty Energy Price Performance

Shares of NYSE LBRT opened at $22.12 on Friday. The firm has a market cap of $3.69 billion, a PE ratio of 8.07, a PEG ratio of 1.11 and a beta of 1.85. The firm has a fifty day moving average of $21.20 and a 200 day moving average of $19.71. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.48. Liberty Energy has a one year low of $11.62 and a one year high of $23.31.

Liberty Energy (NYSE:LBRT) last released its earnings results on Thursday, April 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the company earned $0.90 EPS. Liberty Energy’s quarterly revenue was down 12.8% compared to the same quarter last year. As a group, research analysts predict that Liberty Energy will post 2.58 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be issued a $0.07 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.27%. Liberty Energy’s payout ratio is 10.22%.

Insider Activity at Liberty Energy

In related news, insider R Sean Elliott sold 20,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total value of $410,000.00. Following the sale, the insider now directly owns 218,530 shares in the company, valued at approximately $4,479,865. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider R Sean Elliott sold 20,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total value of $410,000.00. Following the completion of the transaction, the insider now owns 218,530 shares of the company’s stock, valued at approximately $4,479,865. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William F. Kimble sold 12,459 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $21.55, for a total transaction of $268,491.45. Following the transaction, the director now directly owns 69,963 shares of the company’s stock, valued at approximately $1,507,702.65. The disclosure for this sale can be found here. Insiders have sold a total of 98,459 shares of company stock worth $2,077,491 in the last three months. Insiders own 3.70% of the company’s stock.

Institutional Trading of Liberty Energy

Institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC boosted its holdings in Liberty Energy by 1,777.4% in the 4th quarter. International Assets Investment Management LLC now owns 233,280 shares of the company’s stock worth $4,232,000 after acquiring an additional 220,854 shares during the period. American Century Companies Inc. boosted its holdings in Liberty Energy by 12.4% in the 3rd quarter. American Century Companies Inc. now owns 2,241,076 shares of the company’s stock worth $41,505,000 after acquiring an additional 247,074 shares during the period. Knights of Columbus Asset Advisors LLC purchased a new position in Liberty Energy in the 4th quarter worth approximately $3,532,000. Public Sector Pension Investment Board purchased a new position in Liberty Energy in the 3rd quarter worth approximately $3,549,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Liberty Energy by 37.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 237,090 shares of the company’s stock valued at $4,391,000 after buying an additional 65,062 shares during the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

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.