Bank of America Increases Liberty Energy (NYSE:LBRT) Price Target to $23.00

Liberty Energy (NYSE:LBRT) had its price objective increased by Bank of America from $20.00 to $23.00 in a research note published on Monday, Benzinga reports. Bank of America currently has a neutral rating on the stock.

Several other research firms have also issued reports on LBRT. Wells Fargo & Company decreased their target price on Liberty Energy from $25.00 to $24.00 and set an overweight rating for the company in a research report on Thursday, December 21st. Morgan Stanley boosted their price objective on Liberty Energy from $23.00 to $24.00 and gave the company an equal weight rating in a research report on Monday, January 29th. Finally, Piper Sandler boosted their price objective on Liberty Energy from $27.00 to $28.00 and gave the company an overweight rating in a research report on Friday, January 26th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $23.67.

Liberty Energy Stock Down 0.3 %

LBRT opened at $21.52 on Monday. Liberty Energy has a fifty-two week low of $11.62 and a fifty-two week high of $23.23. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.49 and a quick ratio of 1.17. The firm’s fifty day moving average price is $21.09 and its two-hundred day moving average price is $19.63. The company has a market capitalization of $3.59 billion, a P/E ratio of 6.81, a P/E/G ratio of 1.07 and a beta of 1.85.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings data on Wednesday, January 24th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). Liberty Energy had a net margin of 11.72% and a return on equity of 32.28%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the business posted $0.82 earnings per share. The firm’s revenue was down 12.3% compared to the same quarter last year. On average, analysts anticipate that Liberty Energy will post 2.64 EPS for the current year.

Liberty Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Tuesday, March 5th. Liberty Energy’s dividend payout ratio (DPR) is currently 8.86%.

Insiders Place Their Bets

In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $22.66, for a total transaction of $453,200.00. Following the completion of the transaction, the chief executive officer now owns 2,858,814 shares of the company’s stock, valued at approximately $64,780,725.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $22.66, for a total transaction of $453,200.00. Following the sale, the chief executive officer now owns 2,858,814 shares in the company, valued at approximately $64,780,725.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William F. Kimble sold 12,459 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $21.55, for a total value of $268,491.45. Following the sale, the director now owns 69,963 shares in the company, valued at approximately $1,507,702.65. The disclosure for this sale can be found here. Insiders sold a total of 98,459 shares of company stock valued at $2,077,491 in the last quarter. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Liberty Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Hennessy Advisors Inc. raised its stake in shares of Liberty Energy by 14.1% during the 1st quarter. Hennessy Advisors Inc. now owns 1,338,400 shares of the company’s stock worth $27,732,000 after purchasing an additional 165,400 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Liberty Energy by 27.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock worth $59,000 after purchasing an additional 709 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of Liberty Energy by 24.5% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 49,800 shares of the company’s stock worth $903,000 after purchasing an additional 9,800 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in Liberty Energy by 23.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 20,595 shares of the company’s stock valued at $374,000 after acquiring an additional 3,864 shares during the period. Finally, Horizon Kinetics Asset Management LLC bought a new stake in Liberty Energy in the 4th quarter valued at $398,000. Institutional investors own 98.22% of the company’s stock.

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.