Liberty Energy Inc. (NYSE:LBRT – Get Free Report)’s stock price fell 3.5% on Friday after TD Cowen lowered their price target on the stock from $21.00 to $20.00. TD Cowen currently has a hold rating on the stock. Liberty Energy traded as low as $21.49 and last traded at $21.71. 154,964 shares were traded during trading, a decline of 94% from the average session volume of 2,688,125 shares. The stock had previously closed at $22.49.
Several other brokerages also recently commented on LBRT. Royal Bank of Canada lifted their target price on Liberty Energy from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Barclays lifted their target price on Liberty Energy from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Citigroup upgraded Liberty Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $24.00 to $32.00 in a research note on Wednesday, May 29th. Wells Fargo & Company boosted their price target on Liberty Energy from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, Bank of America reduced their price target on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.89.
Insider Buying and Selling at Liberty Energy
In other news, CAO Ryan T. Gosney sold 2,000 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $23.50, for a total transaction of $47,000.00. Following the completion of the transaction, the chief accounting officer now owns 170,882 shares of the company’s stock, valued at approximately $4,015,727. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Liberty Energy news, CAO Ryan T. Gosney sold 2,000 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $23.50, for a total value of $47,000.00. Following the completion of the transaction, the chief accounting officer now owns 170,882 shares of the company’s stock, valued at approximately $4,015,727. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Ryan T. Gosney sold 4,000 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $24.00, for a total value of $96,000.00. Following the completion of the sale, the chief accounting officer now owns 166,882 shares in the company, valued at approximately $4,005,168. The disclosure for this sale can be found here. Insiders sold 176,000 shares of company stock valued at $3,932,731 in the last three months. Corporate insiders own 3.60% of the company’s stock.
Institutional Investors Weigh In On Liberty Energy
Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James & Associates boosted its holdings in Liberty Energy by 23.4% in the second quarter. Raymond James & Associates now owns 89,274 shares of the company’s stock worth $1,865,000 after acquiring an additional 16,947 shares in the last quarter. Andina Capital Management LLC boosted its holdings in Liberty Energy by 3.9% in the second quarter. Andina Capital Management LLC now owns 18,599 shares of the company’s stock worth $389,000 after acquiring an additional 691 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Liberty Energy by 216.3% in the second quarter. SG Americas Securities LLC now owns 81,987 shares of the company’s stock worth $1,713,000 after acquiring an additional 56,064 shares in the last quarter. Simplicity Wealth LLC purchased a new stake in shares of Liberty Energy in the second quarter worth approximately $261,000. Finally, CWM LLC raised its stake in shares of Liberty Energy by 43.3% in the second quarter. CWM LLC now owns 6,213 shares of the company’s stock worth $130,000 after purchasing an additional 1,876 shares during the last quarter. Institutional investors own 98.22% of the company’s stock.
Liberty Energy Trading Down 4.2 %
The company has a quick ratio of 1.16, a current ratio of 1.48 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $3.59 billion, a PE ratio of 7.86, a P/E/G ratio of 1.27 and a beta of 1.74. The firm has a 50 day moving average price of $21.95 and a 200 day moving average price of $21.04.
Liberty Energy (NYSE:LBRT – Get Free Report) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. Liberty Energy had a return on equity of 23.16% and a net margin of 9.53%. Liberty Energy’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the business posted $0.87 earnings per share. Equities analysts expect that Liberty Energy Inc. will post 2.24 EPS for the current fiscal year.
Liberty Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.30%. The ex-dividend date is Friday, September 6th. Liberty Energy’s dividend payout ratio (DPR) is 10.22%.
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.