Liberty Energy (NYSE:LBRT) Given New $26.00 Price Target at Wells Fargo & Company

Liberty Energy (NYSE:LBRT) had its price target upped by Wells Fargo & Company from $24.00 to $26.00 in a research report released on Friday, Benzinga reports. They currently have an overweight rating on the stock.

LBRT has been the subject of several other reports. Piper Sandler lifted their price objective on shares of Liberty Energy from $27.00 to $28.00 and gave the stock an overweight rating in a research note on Friday, January 26th. Bank of America lifted their target price 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 lifted their target price on Liberty Energy from $19.00 to $21.00 and gave the stock a hold rating in a research report on Friday. Finally, Morgan Stanley lifted their target price 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. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $24.30.

Liberty Energy Stock Down 1.2 %

NYSE LBRT opened at $22.12 on Friday. 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 company has a fifty day moving average of $21.20 and a two-hundred day moving average of $19.71. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 8.07, a PEG ratio of 1.11 and a beta of 1.85. Liberty Energy has a 52 week low of $11.62 and a 52 week high of $23.31.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings data on Thursday, April 18th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.06). The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The firm’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.90 earnings per share. On average, analysts predict that Liberty Energy will post 2.58 earnings per share for the current year.

Liberty Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $0.28 annualized dividend and a dividend yield of 1.27%. Liberty Energy’s payout ratio is currently 10.22%.

Insider Activity at Liberty Energy

In related news, insider R Sean Elliott sold 20,000 shares of Liberty Energy stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total value of $410,000.00. Following the completion of the sale, the insider now directly owns 218,530 shares in the company, valued at $4,479,865. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Liberty Energy news, insider R Sean Elliott sold 20,000 shares of Liberty Energy stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total value of $410,000.00. Following the transaction, the insider now owns 218,530 shares in the company, valued at $4,479,865. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ryan T. Gosney sold 6,000 shares of Liberty Energy stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total value of $123,000.00. Following the completion of the transaction, the chief accounting officer now owns 140,706 shares in the company, valued at approximately $2,884,473. The disclosure for this sale can be found here. Insiders sold 98,459 shares of company stock worth $2,077,491 over the last three months. 3.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Liberty Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EdgeRock Capital LLC purchased a new stake in shares of Liberty Energy during the fourth quarter worth about $27,000. Principal Securities Inc. purchased a new stake in shares of Liberty Energy during the fourth quarter worth about $39,000. Quadrant Capital Group LLC grew its stake in shares of Liberty Energy by 70.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock worth $53,000 after acquiring an additional 1,206 shares during the last quarter. CWM LLC grew its stake in shares of Liberty Energy by 59.7% during the third quarter. CWM LLC now owns 3,166 shares of the company’s stock worth $59,000 after acquiring an additional 1,183 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake 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 acquiring an additional 709 shares during the last quarter. Hedge funds and other 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.