Liberty Energy (NYSE:LBRT) Price Target Lowered to $24.00 at Royal Bank of Canada

Liberty Energy (NYSE:LBRT) had its target price lowered by Royal Bank of Canada from $26.00 to $24.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts have also recently commented on the stock. Evercore ISI upgraded shares of Liberty Energy to a “strong-buy” rating in a research note on Thursday, October 17th. Stifel Nicolaus upped their price target on shares of Liberty Energy from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday. Barclays dropped their price target on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Citigroup upped their price target on shares of Liberty Energy from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Finally, Seaport Res Ptn upgraded shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Sunday, January 5th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.30.

Liberty Energy Stock Down 4.6 %

Liberty Energy stock opened at $18.30 on Friday. Liberty Energy has a twelve month low of $16.57 and a twelve month high of $24.75. The firm has a 50 day moving average price of $19.83 and a 200-day moving average price of $19.74. The company has a market capitalization of $2.99 billion, a P/E ratio of 9.79 and a beta of 1.66. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Liberty Energy had a net margin of 7.32% and a return on equity of 14.37%. As a group, equities analysts predict that Liberty Energy will post 0.9 EPS for the current year.

Liberty Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Thursday, March 6th. Liberty Energy’s payout ratio is 17.11%.

Insider Transactions at Liberty Energy

In related news, CFO Michael Stock sold 5,000 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $23.00, for a total transaction of $115,000.00. Following the transaction, the chief financial officer now owns 675,207 shares of the company’s stock, valued at approximately $15,529,761. This trade represents a 0.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher A. Wright sold 12,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.44, for a total transaction of $209,280.00. Following the transaction, the chief executive officer now directly owns 2,606,813 shares in the company, valued at approximately $45,462,818.72. This represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,973 shares of company stock valued at $1,500,285 in the last quarter. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Liberty Energy

Several institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd grew its holdings in Liberty Energy by 96.8% in the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company’s stock worth $33,000 after acquiring an additional 838 shares during the last quarter. Quarry LP grew its holdings in Liberty Energy by 237.5% in the 3rd quarter. Quarry LP now owns 1,991 shares of the company’s stock worth $38,000 after acquiring an additional 1,401 shares during the last quarter. Blue Trust Inc. grew its holdings in Liberty Energy by 604.9% in the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the company’s stock worth $47,000 after acquiring an additional 2,111 shares during the last quarter. Spire Wealth Management bought a new stake in Liberty Energy in the 4th quarter worth $60,000. Finally, GAMMA Investing LLC grew its holdings in Liberty Energy by 82.1% in the 3rd quarter. GAMMA Investing LLC now owns 3,174 shares of the company’s stock worth $61,000 after acquiring an additional 1,431 shares during the last quarter. 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.