Liberty Energy (NYSE:LBRT) Given New $27.00 Price Target at Royal Bank of Canada

Liberty Energy (NYSE:LBRT) had its price target boosted by Royal Bank of Canada from $25.00 to $27.00 in a research note released on Friday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other research firms also recently commented on LBRT. Barclays raised their price objective on shares of Liberty Energy from $25.00 to $27.00 and gave the stock an overweight rating in a report on Friday. TD Cowen raised their price objective on shares of Liberty Energy from $19.00 to $21.00 and gave the stock a hold rating in a report on Friday. Piper Sandler raised their price objective on shares of Liberty Energy from $27.00 to $28.00 and gave the stock an overweight rating in a report on Friday, January 26th. Bank of America raised their price objective on shares of Liberty Energy from $20.00 to $23.00 and gave the stock a neutral rating in a report on Monday, April 15th. Finally, Wells Fargo & Company raised their price objective on shares of Liberty Energy from $24.00 to $26.00 and gave the stock an overweight rating in a report on Friday. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $24.30.

Liberty Energy Stock Performance

NYSE LBRT opened at $22.37 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.48 and a quick ratio of 1.17. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 8.16, a P/E/G ratio of 1.08 and a beta of 1.85. The company’s fifty day moving average is $21.20 and its two-hundred day moving average is $19.68. Liberty Energy has a 52-week low of $11.62 and a 52-week high of $23.31.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Thursday, April 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.06). The company had revenue of $1.10 billion during 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%. The business’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. Equities research analysts forecast that Liberty Energy will post 2.61 EPS for the current year.

Liberty Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.25%. The ex-dividend date is Wednesday, June 5th. Liberty Energy’s dividend payout ratio is currently 10.22%.

Insider Activity at Liberty Energy

In other Liberty Energy news, CAO Ryan T. Gosney sold 6,000 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 $123,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 140,706 shares of the company’s stock, valued at $2,884,473. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Liberty Energy 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 directly owns 218,530 shares of the company’s stock, valued at $4,479,865. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Ryan T. Gosney sold 6,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total transaction of $123,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 140,706 shares of the company’s stock, valued at $2,884,473. The disclosure for this sale can be found here. Insiders sold 98,459 shares of company stock valued at $2,077,491 in the last ninety days. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Liberty Energy

A number of institutional investors have recently modified their holdings of the stock. EdgeRock Capital LLC acquired a new stake in shares of Liberty Energy during the 4th quarter worth approximately $27,000. Principal Securities Inc. acquired a new stake in shares of Liberty Energy during the 4th quarter worth approximately $39,000. Quadrant Capital Group LLC grew its position in shares of Liberty Energy by 70.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock worth $53,000 after buying an additional 1,206 shares during the period. Quarry LP grew its position in shares of Liberty Energy by 111.0% during the 2nd quarter. Quarry LP now owns 3,965 shares of the company’s stock worth $53,000 after buying an additional 2,086 shares during the period. Finally, KBC Group NV acquired a new stake in shares of Liberty Energy during the 4th quarter worth approximately $55,000. 98.22% of the stock is owned by institutional investors.

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.