Citigroup Cuts Liberty Energy (NYSE:LBRT) Price Target to $25.00

Liberty Energy (NYSE:LBRT) had its target price lowered by Citigroup from $28.00 to $25.00 in a report released on Thursday, Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on the stock. Bank of America cut their target price on shares of Liberty Energy from $24.00 to $22.00 and set a neutral rating on the stock in a research note on Monday, July 15th. Barclays reduced their price objective on Liberty Energy from $27.00 to $26.00 and set an overweight rating on the stock in a research note on Tuesday, July 23rd. TD Cowen lowered their target price on Liberty Energy from $21.00 to $20.00 and set a hold rating for the company in a research note on Friday, July 19th. Finally, Piper Sandler cut their price target on Liberty Energy from $28.00 to $25.00 and set an overweight rating on the stock in a report on Monday, July 15th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $24.00.

Liberty Energy Stock Up 0.0 %

NYSE:LBRT opened at $20.51 on Thursday. Liberty Energy has a 52 week low of $16.33 and a 52 week high of $24.75. The company has a quick ratio of 1.07, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. The stock’s fifty day moving average is $20.39 and its two-hundred day moving average is $21.38. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 7.49, a price-to-earnings-growth ratio of 1.24 and a beta of 1.68.

Liberty Energy (NYSE:LBRT) last announced its 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 analysts’ expectations of $1.16 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. Liberty Energy’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the business posted $0.87 EPS. Research analysts anticipate that Liberty Energy will post 2.18 EPS for the current year.

Liberty Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.37%. The ex-dividend date was Friday, September 6th. Liberty Energy’s payout ratio is 10.22%.

Insiders Place Their Bets

In other news, CFO Michael Stock sold 20,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $22.92, for a total value of $458,400.00. Following the completion of the transaction, the chief financial officer now owns 765,207 shares in the company, valued at approximately $17,538,544.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 99,374 shares of company stock valued at $2,037,548. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Liberty Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new position in shares of Liberty Energy in the 2nd quarter valued at $32,000. GAMMA Investing LLC boosted its stake in shares of Liberty Energy by 69.2% during the second quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock worth $36,000 after buying an additional 713 shares during the period. nVerses Capital LLC boosted its stake in shares of Liberty Energy by 45.0% during the second quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock worth $61,000 after buying an additional 900 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Liberty Energy by 27.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock worth $59,000 after buying an additional 709 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of Liberty Energy during the fourth quarter worth about $63,000. 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.