Liberty Energy (NYSE:LBRT) Price Target Lowered to $25.00 at Citigroup

Liberty Energy (NYSE:LBRT) had its price objective lowered by Citigroup from $28.00 to $25.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

LBRT has been the topic of several other reports. Barclays dropped their target price on Liberty Energy from $27.00 to $26.00 and set an overweight rating on the stock in a research report on Tuesday, July 23rd. Bank of America dropped their target price on Liberty Energy from $24.00 to $22.00 and set a neutral rating for the company in a report on Monday, July 15th. Piper Sandler dropped their price objective on Liberty Energy from $28.00 to $25.00 and set an overweight rating for the company in a report on Monday, July 15th. Finally, 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 report on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $24.00.

Liberty Energy Price Performance

Shares of NYSE:LBRT opened at $20.51 on Thursday. The stock has a market cap of $3.42 billion, a PE ratio of 7.49, a price-to-earnings-growth ratio of 1.24 and a beta of 1.68. Liberty Energy has a 1-year low of $16.33 and a 1-year high of $24.75. The company has a current ratio of 1.35, a quick ratio of 1.07 and a debt-to-equity ratio of 0.17. The stock’s fifty day simple moving average is $20.39 and its two-hundred day simple moving average is $21.38.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data on Wednesday, July 17th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.87 earnings per share. As a group, analysts forecast that Liberty Energy will post 2.18 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Friday, September 6th. Liberty Energy’s dividend payout ratio (DPR) is presently 10.22%.

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, CFO Michael Stock sold 4,374 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $21.01, for a total transaction of $91,897.74. Following the transaction, the chief financial officer now owns 785,207 shares of the company’s stock, valued at $16,497,199.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Michael Stock sold 4,374 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $21.01, for a total value of $91,897.74. Following the completion of the sale, the chief financial officer now directly owns 785,207 shares in the company, valued at approximately $16,497,199.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $19.77, for a total value of $395,400.00. Following the sale, the chief executive officer now owns 2,638,813 shares of the company’s stock, valued at $52,169,333.01. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,374 shares of company stock valued at $2,037,548. 3.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Lord Abbett & CO. LLC purchased a new stake in shares of Liberty Energy during the first quarter valued at $27,809,000. Hennessy Advisors Inc. raised its stake in shares of Liberty Energy by 48.0% during the 2nd quarter. Hennessy Advisors Inc. now owns 1,981,100 shares of the company’s stock worth $41,385,000 after purchasing an additional 642,700 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Liberty Energy by 17.6% during the 2nd quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock valued at $82,754,000 after acquiring an additional 594,051 shares during the last quarter. LSV Asset Management increased its holdings in shares of Liberty Energy by 60.2% during the 1st quarter. LSV Asset Management now owns 1,437,041 shares of the company’s stock valued at $29,775,000 after acquiring an additional 539,861 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Liberty Energy by 345.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 573,200 shares of the company’s stock valued at $11,974,000 after buying an additional 444,500 shares during the last quarter. Institutional investors own 98.22% of the company’s stock.

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.