Liberty Energy (NYSE:LBRT) Research Coverage Started at Scotiabank

Scotiabank initiated coverage on shares of Liberty Energy (NYSE:LBRT) in a research report report published on Tuesday, MarketBeat reports. The firm issued a sector perform rating and a $19.00 target price on the stock.

Several other research firms also recently weighed in on LBRT. Stifel Nicolaus dropped their target price on Liberty Energy from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, July 24th. Piper Sandler cut their price target on shares of Liberty Energy from $34.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, August 27th. Barclays raised shares of Liberty Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $23.00 to $27.00 in a research report on Monday. Wall Street Zen lowered shares of Liberty Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, Weiss Ratings cut shares of Liberty Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 18th. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.54.

Liberty Energy Stock Up 1.4%

NYSE:LBRT opened at $18.48 on Tuesday. Liberty Energy has a 52 week low of $11.52 and a 52 week high of $34.48. The stock’s fifty day moving average is $19.54 and its two-hundred day moving average is $25.49. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 24.98, a price-to-earnings-growth ratio of 2.49 and a beta of 0.72. The company has a quick ratio of 1.75, a current ratio of 1.99 and a debt-to-equity ratio of 0.74.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Liberty Energy had a return on equity of 1.14% and a net margin of 2.92%.The company’s revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 earnings per share. Research analysts anticipate that Liberty Energy will post 0.35 EPS for the current year.

Liberty Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, September 4th. Liberty Energy’s dividend payout ratio (DPR) is 48.65%.

Insider Buying and Selling at Liberty Energy

In related news, Director Arjun N. Murti acquired 14,053 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was bought at an average price of $17.79 per share, for a total transaction of $250,002.87. Following the completion of the purchase, the director directly owned 41,621 shares of the company’s stock, valued at approximately $740,437.59. The trade was a 50.98% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael Stock sold 6,666 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $19.84, for a total value of $132,253.44. Following the transaction, the chief financial officer directly owned 760,379 shares in the company, valued at approximately $15,085,919.36. The trade was a 0.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.00% of the stock is owned by company insiders.

Institutional Trading of Liberty Energy

A number of large investors have recently made changes to their positions in the company. Arlington Capital Management Inc. acquired a new position in Liberty Energy during the second quarter worth approximately $3,821,000. Engineers Gate Manager LP purchased a new stake in Liberty Energy in the second quarter valued at approximately $3,099,000. Squarepoint Ops LLC boosted its holdings in shares of Liberty Energy by 23.8% in the second quarter. Squarepoint Ops LLC now owns 1,051,488 shares of the company’s stock valued at $27,538,000 after acquiring an additional 201,839 shares during the period. Nykredit A S acquired a new stake in shares of Liberty Energy in the second quarter valued at approximately $171,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Liberty Energy in the second quarter valued at approximately $534,000. 98.22% of the stock is owned by institutional investors and hedge funds.

Liberty Energy Company Profile

Liberty Energy Inc is an oilfield services company that provides hydraulic fracturing and related completion services to exploration and production companies. Its operations support the development of unconventional oil and natural gas wells, primarily in North America.

The company’s services and technologies include pressure pumping, well stimulation, wireline services, proppant and logistics solutions, and digital tools designed to improve completion performance and operational efficiency.