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

Liberty Energy (NYSE:LBRT) had its price target boosted by Wells Fargo & Company from $24.00 to $26.00 in a research note published on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other analysts have also recently commented on the company. Piper Sandler upped their price objective on Liberty Energy from $27.00 to $28.00 and gave the company an overweight rating in a research report on Friday, January 26th. Bank of America upped their price target 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 upped their price target 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 upped their price target 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 analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $24.30.

Liberty Energy Stock Up 1.2 %

Liberty Energy stock opened at $22.37 on Friday. The stock has a market cap of $3.73 billion, a PE ratio of 8.16, a price-to-earnings-growth ratio of 1.08 and a beta of 1.85. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.17 and a current ratio of 1.48. Liberty Energy has a one year low of $11.62 and a one year high of $23.31. The stock has a fifty day moving average of $21.20 and a 200 day moving average of $19.68.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings data on Thursday, April 18th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 10.43% and a return on equity of 26.46%. The firm’s revenue was down 12.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 EPS. As a group, sell-side analysts predict that Liberty Energy will post 2.61 EPS for the current year.

Liberty Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Wednesday, June 5th. Liberty Energy’s dividend payout ratio (DPR) is 10.22%.

Insider Transactions at Liberty Energy

In other news, insider R Sean Elliott sold 20,000 shares of the company’s 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 transaction, the insider now owns 218,530 shares of the company’s stock, valued at $4,479,865. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider R Sean Elliott sold 20,000 shares of the company’s 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 transaction, the insider now owns 218,530 shares of the company’s stock, valued at $4,479,865. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William F. Kimble sold 12,459 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $21.55, for a total value of $268,491.45. Following the completion of the transaction, the director now directly owns 69,963 shares of the company’s stock, valued at approximately $1,507,702.65. 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 90 days. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Liberty Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EdgeRock Capital LLC bought a new position in Liberty Energy during the fourth quarter valued at approximately $27,000. Principal Securities Inc. bought a new position in Liberty Energy during the fourth quarter valued at approximately $39,000. Quadrant Capital Group LLC lifted its stake in shares of Liberty Energy by 70.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock valued at $53,000 after purchasing an additional 1,206 shares during the last quarter. Quarry LP lifted its stake in shares of Liberty Energy by 111.0% in the 2nd quarter. Quarry LP now owns 3,965 shares of the company’s stock valued at $53,000 after purchasing an additional 2,086 shares during the last quarter. Finally, KBC Group NV bought a new stake in shares of Liberty Energy in the 4th quarter valued at approximately $55,000. 98.22% of the stock is owned by institutional investors.

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.