Liberty Energy (NYSE:LBRT) Price Target Raised to $21.00

Liberty Energy (NYSE:LBRTGet Rating) had its target price upped by Piper Sandler from $19.00 to $21.00 in a research report sent to investors on Friday, The Fly reports. They currently have an overweight rating on the stock.

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group boosted their target price on Liberty Energy from $16.00 to $18.00 and gave the stock a neutral rating in a research note on Friday, October 21st. TheStreet raised Liberty Energy from a c rating to a b- rating in a research report on Wednesday, October 19th. Morgan Stanley upped their price objective on Liberty Energy from $21.00 to $22.00 and gave the stock an overweight rating in a research report on Monday, October 24th. Capital One Financial upped their price objective on Liberty Energy to $23.00 and gave the stock an outperform rating in a research report on Wednesday, July 27th. Finally, Cowen upped their price objective on Liberty Energy to $16.00 in a research report on Thursday, October 27th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $21.23.

Liberty Energy Trading Down 0.7 %

LBRT opened at $16.83 on Friday. Liberty Energy has a 12 month low of $8.50 and a 12 month high of $20.05. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 17.00 and a beta of 2.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.41 and a quick ratio of 1.15. The business has a fifty day moving average price of $15.21 and a 200 day moving average price of $14.64.

Liberty Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 20th. Stockholders of record on Tuesday, December 6th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Monday, December 5th.

Insider Activity

In other news, CEO Christopher A. Wright sold 37,500 shares of the business’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $17.34, for a total value of $650,250.00. Following the completion of the sale, the chief executive officer now directly owns 3,268,115 shares of the company’s stock, valued at approximately $56,669,114.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Liberty Energy news, CEO Christopher A. Wright sold 2,300 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $17.04, for a total transaction of $39,192.00. Following the completion of the sale, the chief executive officer now directly owns 3,305,615 shares of the company’s stock, valued at approximately $56,327,679.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher A. Wright sold 37,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $17.34, for a total value of $650,250.00. Following the sale, the chief executive officer now directly owns 3,268,115 shares of the company’s stock, valued at $56,669,114.10. The disclosure for this sale can be found here. In the last three months, insiders sold 12,536,299 shares of company stock valued at $192,281,410. Insiders own 3.40% of the company’s stock.

Institutional Trading of Liberty Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in LBRT. BNP Paribas Arbitrage SNC increased its position in Liberty Energy by 29.9% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 196,616 shares of the company’s stock worth $2,493,000 after purchasing an additional 45,295 shares during the period. State Street Corp increased its position in Liberty Energy by 0.6% during the 3rd quarter. State Street Corp now owns 3,417,539 shares of the company’s stock worth $43,334,000 after purchasing an additional 21,734 shares during the period. Algert Global LLC increased its position in Liberty Energy by 428.1% during the 3rd quarter. Algert Global LLC now owns 331,862 shares of the company’s stock worth $4,208,000 after purchasing an additional 269,022 shares during the period. Summit Global Investments increased its position in Liberty Energy by 85.0% during the 3rd quarter. Summit Global Investments now owns 70,656 shares of the company’s stock worth $896,000 after purchasing an additional 32,456 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in Liberty Energy by 145.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 719,864 shares of the company’s stock worth $9,128,000 after purchasing an additional 427,166 shares during the period. 94.31% of the stock is owned by hedge funds and other institutional investors.

About Liberty Energy

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Liberty Energy Inc provides hydraulic fracturing and wireline services, and related goods to onshore oil and natural gas exploration and production companies in North America. It also offers hydraulic fracturing pressure pumping services, including pressure pumping and pumpdown perforating services, as well wireline services, proppant delivery solutions, data analytics, related goods and technologies.

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