Analysts Set Liberty Energy Inc. (NYSE:LBRT) Price Target at $22.30

Shares of Liberty Energy Inc. (NYSE:LBRT) have received an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $21.80.

LBRT has been the subject of several analyst reports. TD Cowen dropped their price objective on shares of Liberty Energy from $18.00 to $16.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Stifel Nicolaus lifted their price target on shares of Liberty Energy from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Atb Cap Markets raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Royal Bank of Canada cut Liberty Energy from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $24.00 to $19.00 in a report on Monday. Finally, Seaport Res Ptn upgraded Liberty Energy from a “hold” rating to a “strong-buy” rating in a research report on Sunday, January 5th.

Liberty Energy Price Performance

Shares of NYSE LBRT opened at $15.55 on Friday. The firm has a market cap of $2.52 billion, a P/E ratio of 8.32 and a beta of 1.58. The business’s 50 day moving average is $17.82 and its 200-day moving average is $18.57. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 0.20. Liberty Energy has a 1-year low of $13.86 and a 1-year high of $24.75.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings data on Wednesday, January 29th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.06). Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. Equities research analysts predict that Liberty Energy will post 0.58 earnings per share for the current year.

Liberty Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, March 6th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.06%. Liberty Energy’s payout ratio is presently 17.11%.

Insider Activity

In other news, CFO Michael Stock sold 20,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $20.82, for a total transaction of $416,400.00. Following the completion of the transaction, the chief financial officer now directly owns 680,207 shares of the company’s stock, valued at $14,161,909.74. This represents a 2.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 40,000 shares of company stock worth $808,350. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Liberty Energy

Hedge funds have recently bought and sold shares of the company. FMR LLC grew its position in Liberty Energy by 17.1% during the third quarter. FMR LLC now owns 18,115,282 shares of the company’s stock worth $345,821,000 after buying an additional 2,640,119 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Liberty Energy by 15.9% during the third quarter. Pacer Advisors Inc. now owns 7,012,382 shares of the company’s stock worth $133,866,000 after purchasing an additional 963,068 shares in the last quarter. State Street Corp raised its stake in Liberty Energy by 2.7% in the third quarter. State Street Corp now owns 6,662,830 shares of the company’s stock valued at $127,193,000 after purchasing an additional 176,887 shares in the last quarter. American Century Companies Inc. lifted its position in Liberty Energy by 10.8% during the fourth quarter. American Century Companies Inc. now owns 5,178,089 shares of the company’s stock valued at $102,992,000 after purchasing an additional 505,634 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Liberty Energy by 83.5% in the 4th quarter. Franklin Resources Inc. now owns 4,828,712 shares of the company’s stock worth $96,043,000 after buying an additional 2,197,352 shares in the last quarter. Hedge funds and other 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.