Analysts Set Liberty Energy Inc. (NYSE:LBRT) Price Target at $24.30

Shares of Liberty Energy Inc. (NYSE:LBRT) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $24.30.

Several equities analysts recently issued reports on the stock. Barclays boosted their target price on shares of Liberty Energy from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Morgan Stanley reiterated an “equal weight” rating and set a $24.00 price target on shares of Liberty Energy in a research report on Monday, April 22nd. Piper Sandler upped their target price on Liberty Energy from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. TD Cowen lifted their price target on shares of Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Finally, Bank of America lifted their price target on shares of Liberty Energy from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday, April 15th.

Liberty Energy Stock Up 2.4 %

NYSE:LBRT opened at $22.16 on Tuesday. The firm has a market capitalization of $3.69 billion, a P/E ratio of 8.09, a PEG ratio of 1.10 and a beta of 1.83. The company’s fifty day moving average price is $21.58 and its 200-day moving average price is $20.00. Liberty Energy has a 1-year low of $11.62 and a 1-year high of $23.31. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.48 and a quick ratio of 1.16.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings results on Thursday, April 18th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.06). The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. Liberty Energy’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. As a group, equities research analysts anticipate that Liberty Energy will post 2.52 EPS for the current year.

Liberty Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $0.28 annualized dividend and a yield of 1.26%. Liberty Energy’s dividend payout ratio (DPR) is presently 10.22%.

Insiders Place Their Bets

In other Liberty Energy news, Director William F. Kimble sold 12,459 shares of Liberty Energy stock in a transaction on Friday, March 8th. The shares were sold at an average price of $21.55, for a total transaction of $268,491.45. Following the sale, the director now owns 69,963 shares of the company’s stock, valued at approximately $1,507,702.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction on Monday, March 18th. The stock was sold at an average price of $20.27, for a total transaction of $405,400.00. Following the transaction, the chief executive officer now owns 2,830,402 shares in the company, valued at approximately $57,372,248.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William F. Kimble sold 12,459 shares of Liberty Energy stock in a transaction on Friday, March 8th. The stock was sold at an average price of $21.55, for a total value of $268,491.45. Following the transaction, the director now owns 69,963 shares in the company, valued at approximately $1,507,702.65. The disclosure for this sale can be found here. Insiders have sold a total of 182,459 shares of company stock valued at $4,025,391 in the last 90 days. 3.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. EdgeRock Capital LLC purchased a new position in shares of Liberty Energy during the 4th quarter worth $27,000. Principal Securities Inc. purchased a new stake in Liberty Energy in the 4th quarter valued at about $39,000. Quadrant Capital Group LLC raised its holdings in Liberty Energy by 70.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock valued at $53,000 after buying an additional 1,206 shares during the period. CWM LLC raised its holdings in Liberty Energy by 59.7% in the 3rd quarter. CWM LLC now owns 3,166 shares of the company’s stock valued at $59,000 after buying an additional 1,183 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Liberty Energy by 27.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after buying an additional 709 shares during the period. 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.