Liberty Energy (NYSE:LBRT) Price Target Raised to $15.00

Liberty Energy (NYSE:LBRT) had its price target hoisted by Royal Bank Of Canada from $13.00 to $15.00 in a research report released on Monday, MarketBeat Ratings reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Piper Sandler decreased their target price on shares of Liberty Energy from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, August 14th. Barclays restated an “equal weight” rating and set a $12.00 target price (down previously from $14.00) on shares of Liberty Energy in a research note on Monday, October 13th. Stifel Nicolaus decreased their target price on shares of Liberty Energy from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, July 28th. Weiss Ratings restated a “hold (c-)” rating on shares of Liberty Energy in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Liberty Energy from a “hold” rating to a “sell” rating in a research note on Sunday. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.10.

Liberty Energy Stock Performance

LBRT opened at $15.23 on Monday. The company has a current ratio of 1.32, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 13.59 and a beta of 0.74. The company’s 50 day moving average is $11.88 and its 200 day moving average is $11.93. Liberty Energy has a 12-month low of $9.50 and a 12-month high of $23.58.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings data on Thursday, October 16th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). The business had revenue of $947.40 million during the quarter, compared to analysts’ expectations of $967.05 million. Liberty Energy had a return on equity of 1.69% and a net margin of 4.76%.The business’s quarterly revenue was down 16.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 EPS. On average, equities research analysts predict that Liberty Energy will post 0.58 EPS for the current year.

Liberty Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, December 4th. Liberty Energy’s dividend payout ratio (DPR) is presently 28.57%.

Institutional Trading of Liberty Energy

A number of large investors have recently made changes to their positions in LBRT. Wellington Shields Capital Management LLC purchased a new stake in shares of Liberty Energy during the second quarter valued at $29,000. Smartleaf Asset Management LLC lifted its stake in Liberty Energy by 213.7% in the second quarter. Smartleaf Asset Management LLC now owns 3,607 shares of the company’s stock worth $42,000 after acquiring an additional 2,457 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Liberty Energy in the second quarter worth about $48,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Liberty Energy in the first quarter worth about $50,000. Finally, GAMMA Investing LLC lifted its stake in Liberty Energy by 281.1% in the second quarter. GAMMA Investing LLC now owns 4,329 shares of the company’s stock worth $50,000 after acquiring an additional 3,193 shares during the period. 98.22% of the stock is owned by hedge funds and other institutional investors.

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.