Analysts Set Liberty Energy Inc. (NYSE:LBRT) PT at $24.78

Shares of Liberty Energy Inc. (NYSE:LBRT) have earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $24.78.

LBRT has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Liberty Energy from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. TD Cowen decreased 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. Citigroup raised Liberty Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $24.00 to $32.00 in a research note on Wednesday, May 29th. Royal Bank of Canada raised their target price on Liberty Energy from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $24.00 target price on shares of Liberty Energy in a research note on Monday, April 22nd.

Insiders Place Their Bets

In other Liberty Energy news, CAO Ryan T. Gosney sold 2,000 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $23.50, for a total value of $47,000.00. Following the transaction, the chief accounting officer now owns 170,882 shares in the company, valued at $4,015,727. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Ryan T. Gosney sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $24.00, for a total value of $96,000.00. Following the transaction, the chief accounting officer now owns 166,882 shares in the company, valued at $4,005,168. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ryan T. Gosney sold 2,000 shares of Liberty Energy stock in a transaction on Friday, May 17th. The stock was sold at an average price of $23.50, for a total value of $47,000.00. Following the sale, the chief accounting officer now owns 170,882 shares in the company, valued at $4,015,727. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,000 shares of company stock worth $1,910,231. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Liberty Energy

A number of hedge funds have recently bought and sold shares of LBRT. EdgeRock Capital LLC bought a new stake in Liberty Energy during the fourth quarter worth $27,000. GAMMA Investing LLC increased its position in Liberty Energy by 69.2% in 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 last quarter. Principal Securities Inc. purchased a new stake in Liberty Energy in the fourth quarter worth $39,000. Quadrant Capital Group LLC increased its position in Liberty Energy by 70.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock worth $53,000 after buying an additional 1,206 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Liberty Energy by 27.7% in 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. 98.22% of the stock is currently owned by institutional investors.

Liberty Energy Price Performance

Shares of LBRT opened at $20.14 on Thursday. Liberty Energy has a 12-month low of $15.57 and a 12-month high of $24.75. The business has a 50-day simple moving average of $21.24 and a two-hundred day simple moving average of $21.52. 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 has a market cap of $3.36 billion, a PE ratio of 7.35, a PEG ratio of 1.33 and a beta of 1.74.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate 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%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.87 earnings per share. Analysts anticipate that Liberty Energy will post 2.19 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a $0.07 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.28 annualized dividend and a yield of 1.39%. Liberty Energy’s payout ratio is currently 10.22%.

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.