Liberty Energy (NYSE:LBRT) Price Target Lowered to $16.00 at TD Cowen

Liberty Energy (NYSE:LBRT) had its price target cut by TD Cowen from $18.00 to $16.00 in a report issued on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

Other analysts have also issued research reports about the company. Citigroup upped their price objective on Liberty Energy from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday. Barclays reduced their price objective on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Wells Fargo & Company dropped their target price on shares of Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Seaport Res Ptn raised shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Sunday. Finally, Atb Cap Markets raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.20.

Liberty Energy Stock Performance

LBRT stock opened at $21.34 on Wednesday. The company has a 50-day simple moving average of $18.48 and a 200 day simple moving average of $19.65. The company has a market capitalization of $3.49 billion, a P/E ratio of 10.16 and a beta of 1.66. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. Liberty Energy has a fifty-two week low of $16.57 and a fifty-two week high of $24.75.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the company posted $0.85 earnings per share. The company’s revenue was down 6.4% on a year-over-year basis. Sell-side analysts predict that Liberty Energy will post 1.72 earnings per share for the current fiscal year.

Liberty Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Friday, December 6th. This is a boost from Liberty Energy’s previous quarterly dividend of $0.07. Liberty Energy’s dividend payout ratio (DPR) is 15.24%.

Insider Activity

In related news, CEO Christopher A. Wright sold 16,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $18.23, for a total transaction of $291,680.00. Following the completion of the sale, the chief executive officer now directly owns 2,562,813 shares in the company, valued at approximately $46,720,080.99. This trade represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Stock sold 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $17.21, for a total value of $86,050.00. Following the completion of the transaction, the chief financial officer now owns 725,207 shares in the company, valued at $12,480,812.47. This trade represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,973 shares of company stock worth $1,471,335. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Liberty Energy

A number of large investors have recently bought and sold shares of the business. Covestor Ltd lifted its position in shares of Liberty Energy by 96.8% in the third quarter. Covestor Ltd now owns 1,704 shares of the company’s stock worth $33,000 after buying an additional 838 shares during the last quarter. Quarry LP boosted its position in Liberty Energy by 237.5% during the third quarter. Quarry LP now owns 1,991 shares of the company’s stock worth $38,000 after purchasing an additional 1,401 shares during the period. GAMMA Investing LLC grew its holdings in Liberty Energy by 82.1% during the third quarter. GAMMA Investing LLC now owns 3,174 shares of the company’s stock valued at $61,000 after purchasing an additional 1,431 shares during the last quarter. US Bancorp DE raised its position in shares of Liberty Energy by 93.2% in the third quarter. US Bancorp DE now owns 4,180 shares of the company’s stock valued at $80,000 after purchasing an additional 2,016 shares during the period. Finally, KBC Group NV lifted its stake in shares of Liberty Energy by 24.8% in the third quarter. KBC Group NV now owns 4,906 shares of the company’s stock worth $94,000 after buying an additional 974 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors.

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.