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

Liberty Energy (NYSE:LBRT) had its target price hoisted by TD Cowen from $19.00 to $21.00 in a research note issued to investors on Friday morning, MarketBeat.com reports. TD Cowen currently has a hold rating on the stock.

Other analysts have also issued research reports about the company. Morgan Stanley lifted their price objective on Liberty Energy from $23.00 to $24.00 and gave the stock an equal weight rating in a report on Monday, January 29th. Piper Sandler lifted their price objective on Liberty Energy from $27.00 to $28.00 and gave the stock an overweight rating in a report on Friday, January 26th. Wells Fargo & Company decreased their price objective on Liberty Energy from $25.00 to $24.00 and set an overweight rating on the stock in a report on Thursday, December 21st. Finally, Bank of America lifted their price objective on Liberty Energy from $20.00 to $23.00 and gave the stock a neutral rating in a report on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $24.30.

Liberty Energy Stock Performance

LBRT opened at $22.12 on Friday. The firm has a market capitalization of $3.69 billion, a P/E ratio of 8.07, a price-to-earnings-growth ratio of 1.11 and a beta of 1.85. The stock’s 50 day moving average price is $21.20 and its two-hundred day moving average price is $19.71. The company has a quick ratio of 1.16, a current ratio of 1.48 and a debt-to-equity ratio of 0.17. Liberty Energy has a 12-month low of $11.62 and a 12-month 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). The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. Liberty Energy had a net margin of 10.43% and a return on equity of 26.46%. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period last year, the business earned $0.90 EPS. On average, equities analysts forecast that Liberty Energy will post 2.58 earnings per share for the current year.

Liberty Energy Announces Dividend

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

Insider Activity at Liberty Energy

In related news, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $20.27, for a total value of $405,400.00. Following the sale, the chief executive officer now owns 2,830,402 shares of the company’s stock, valued at approximately $57,372,248.54. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Liberty Energy news, CAO Ryan T. Gosney sold 6,000 shares of Liberty Energy stock in a transaction on Tuesday, January 30th. The stock was 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 owns 140,706 shares in the company, valued at approximately $2,884,473. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction on Monday, March 18th. The shares were sold at an average price of $20.27, for a total value of $405,400.00. Following the completion of the transaction, the chief executive officer now owns 2,830,402 shares of the company’s stock, valued at approximately $57,372,248.54. The disclosure for this sale can be found here. Insiders have sold a total of 98,459 shares of company stock valued at $2,077,491 in the last 90 days. 3.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Liberty Energy

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Liberty Energy by 4.5% during the third quarter. Vanguard Group Inc. now owns 20,546,529 shares of the company’s stock worth $380,522,000 after acquiring an additional 893,563 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Liberty Energy by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,443,849 shares of the company’s stock worth $171,314,000 after acquiring an additional 404,211 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Liberty Energy by 93.9% during the fourth quarter. Pacer Advisors Inc. now owns 4,587,073 shares of the company’s stock worth $83,210,000 after acquiring an additional 2,221,588 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Liberty Energy by 53.1% during the third quarter. Bank of New York Mellon Corp now owns 2,244,480 shares of the company’s stock worth $41,568,000 after acquiring an additional 778,111 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Liberty Energy by 12.4% during the third 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 last quarter. Institutional investors own 98.22% of the company’s stock.

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.