Liberty Energy (NYSE:LBRT) Price Target Raised to $23.00 at Bank of America

Liberty Energy (NYSE:LBRT) had its price target raised by Bank of America from $20.00 to $23.00 in a report published on Monday morning, Benzinga reports. Bank of America currently has a neutral rating on the stock.

Several other brokerages have also recently issued reports on LBRT. Wells Fargo & Company lowered their price target on Liberty Energy from $25.00 to $24.00 and set an overweight rating on the stock in a research report on Thursday, December 21st. 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 report on Monday, January 29th. Finally, Piper Sandler upped their price target on shares of Liberty Energy from $27.00 to $28.00 and gave the company an overweight rating in a report on Friday, January 26th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $23.67.

Liberty Energy Stock Performance

Shares of LBRT opened at $22.11 on Monday. The firm has a market capitalization of $3.68 billion, a PE ratio of 7.00, a P/E/G ratio of 1.05 and a beta of 1.85. The company has a quick ratio of 1.17, a current ratio of 1.49 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $21.15 and a 200 day moving average price of $19.65. 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 Wednesday, April 17th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.06). Liberty Energy had a net margin of 11.72% and a return on equity of 32.28%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the business earned $0.90 earnings per share. The company’s revenue was down 12.8% on a year-over-year basis. On average, sell-side analysts anticipate that Liberty Energy will post 2.64 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, June 6th. Liberty Energy’s dividend payout ratio (DPR) is presently 8.86%.

Insider Activity

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 transaction, the insider now owns 218,530 shares of the company’s stock, valued at approximately $4,479,865. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Liberty Energy 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 sale, the chief accounting officer now directly owns 140,706 shares of the company’s stock, valued at approximately $2,884,473. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider R Sean Elliott sold 20,000 shares of the stock in a transaction on Tuesday, January 30th. The shares were 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 owns 218,530 shares of the company’s stock, valued at approximately $4,479,865. The disclosure for this sale can be found here. Insiders sold a total of 98,459 shares of company stock valued at $2,077,491 over the last three months. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LBRT. EdgeRock Capital LLC purchased a new stake in Liberty Energy in the 4th quarter worth about $27,000. Principal Securities Inc. acquired a new position in shares of Liberty Energy in the 4th quarter valued at about $39,000. Quadrant Capital Group LLC lifted its position in shares of 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 purchasing an additional 1,206 shares in the last quarter. KBC Group NV acquired a new stake in shares of Liberty Energy during the fourth quarter worth approximately $55,000. Finally, West Tower Group LLC purchased a new position in Liberty Energy during the fourth quarter valued at approximately $56,000. 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.