Liberty Energy (NYSE:LBRT) Price Target Raised to $27.00 at Barclays

Liberty Energy (NYSE:LBRT) had its price objective lifted by Barclays from $25.00 to $27.00 in a report published on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other brokerages also recently issued reports on LBRT. Bank of America boosted their price objective on Liberty Energy from $20.00 to $23.00 and gave the stock a neutral rating in a research report on Monday, April 15th. TD Cowen boosted their price objective on Liberty Energy from $19.00 to $21.00 and gave the stock a hold rating in a research report on Friday. Morgan Stanley boosted their price objective on Liberty Energy from $23.00 to $24.00 and gave the stock an equal weight rating in a research report on Monday, January 29th. Wells Fargo & Company boosted their price objective on Liberty Energy from $24.00 to $26.00 and gave the stock an overweight rating in a research report on Friday. Finally, Piper Sandler boosted their price objective on Liberty Energy from $27.00 to $28.00 and gave the stock an overweight rating in a research report on Friday, January 26th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $24.30.

Liberty Energy Stock Performance

Shares of NYSE LBRT opened at $22.37 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.09. The firm’s 50-day moving average price is $21.20 and its two-hundred day moving average price is $19.68. Liberty Energy has a 52-week low of $11.62 and a 52-week high of $23.31. The stock has a market capitalization of $3.73 billion, a P/E ratio of 8.16, a P/E/G ratio of 1.08 and a beta of 1.85.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Thursday, April 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the business earned $0.90 EPS. The business’s revenue was down 12.8% on a year-over-year basis. As a group, sell-side analysts forecast that Liberty Energy will post 2.61 earnings per share for the current year.

Liberty Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be issued a dividend of $0.07 per share. The ex-dividend date is Wednesday, June 5th. This represents a $0.28 annualized dividend and a yield of 1.25%. Liberty Energy’s payout ratio is 10.22%.

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $22.66, for a total value of $453,200.00. Following the transaction, the chief executive officer now owns 2,858,814 shares of the company’s stock, valued at $64,780,725.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Ryan T. Gosney sold 6,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total transaction of $123,000.00. Following the transaction, the chief accounting officer now directly owns 140,706 shares in the company, valued at approximately $2,884,473. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $22.66, for a total transaction of $453,200.00. Following the transaction, the chief executive officer now owns 2,858,814 shares in the company, valued at $64,780,725.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 98,459 shares of company stock valued at $2,077,491. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Liberty Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Advisor Group Holdings Inc. raised its position in shares of Liberty Energy by 24.7% during the first quarter. Advisor Group Holdings Inc. now owns 13,300 shares of the company’s stock valued at $194,000 after buying an additional 2,637 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Liberty Energy by 129.4% during the first quarter. Bank of New York Mellon Corp now owns 2,089,808 shares of the company’s stock valued at $30,971,000 after buying an additional 1,178,716 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Liberty Energy by 17.4% during the first quarter. HighTower Advisors LLC now owns 17,607 shares of the company’s stock valued at $261,000 after buying an additional 2,607 shares during the last quarter. Citigroup Inc. raised its position in shares of Liberty Energy by 775.0% during the first quarter. Citigroup Inc. now owns 219,897 shares of the company’s stock valued at $3,259,000 after buying an additional 194,767 shares during the last quarter. Finally, MetLife Investment Management LLC raised its position in Liberty Energy by 106.8% in the first quarter. MetLife Investment Management LLC now owns 49,221 shares of the company’s stock worth $729,000 after purchasing an additional 25,424 shares in the last quarter. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

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.