Liberty Energy (NYSE:LBRT) Price Target Raised to $27.00

Liberty Energy (NYSE:LBRT) had its price objective hoisted by Royal Bank of Canada from $25.00 to $27.00 in a research note released on Friday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other research firms also recently weighed in on LBRT. Wells Fargo & Company raised their price target on shares of Liberty Energy from $24.00 to $26.00 and gave the stock an overweight rating in a research report on Friday. Bank of America boosted their target price on shares of Liberty Energy from $20.00 to $23.00 and gave the stock a neutral rating in a research report on Monday, April 15th. Barclays lifted their price target on Liberty Energy from $25.00 to $27.00 and gave the stock an overweight rating in a research note on Friday. TD Cowen upped their price objective on Liberty Energy from $19.00 to $21.00 and gave the company a hold rating in a research note on Friday. Finally, Piper Sandler lifted their target price on Liberty Energy from $27.00 to $28.00 and gave the stock an overweight rating in a research report on Friday, January 26th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Liberty Energy currently has a consensus rating of Moderate Buy and an average price target of $24.30.

Liberty Energy Stock Performance

Shares of LBRT stock opened at $22.38 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.48 and a quick ratio of 1.17. The company’s fifty day moving average price is $21.20 and its two-hundred day moving average price is $19.71. The firm has a market capitalization of $3.73 billion, a P/E ratio of 8.17, a P/E/G ratio of 1.10 and a beta of 1.85. Liberty Energy has a 12 month low of $11.62 and a 12 month high of $23.31.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings results on Thursday, April 18th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.06). Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the firm posted $0.90 EPS. The company’s revenue was down 12.8% compared to the same quarter last year. On average, research analysts anticipate that Liberty Energy will post 2.58 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

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

Insider Buying and Selling

In other 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 completion of the transaction, the chief accounting officer now owns 140,706 shares of the company’s stock, valued at $2,884,473. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Liberty Energy news, CAO Ryan T. Gosney sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total value of $123,000.00. Following the sale, the chief accounting officer now owns 140,706 shares in the company, valued at $2,884,473. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $22.66, for a total value of $453,200.00. Following the transaction, the chief executive officer now owns 2,858,814 shares of the company’s stock, valued at $64,780,725.24. The disclosure for this sale can be found here. Insiders sold a total of 98,459 shares of company stock worth $2,077,491 in the last three months. 3.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LBRT. AlphaMark Advisors LLC bought a new position in Liberty Energy in the 1st quarter valued at about $348,000. Diversified Trust Co increased its stake in shares of Liberty Energy by 2.5% during the first quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock valued at $427,000 after acquiring an additional 507 shares during the period. Hennessy Advisors Inc. lifted its position in Liberty Energy by 14.1% in the first quarter. Hennessy Advisors Inc. now owns 1,338,400 shares of the company’s stock worth $27,732,000 after purchasing an additional 165,400 shares during the period. PNC Financial Services Group Inc. boosted its stake in Liberty Energy by 27.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after purchasing an additional 709 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its position in shares of Liberty Energy by 24.5% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 49,800 shares of the company’s stock valued at $903,000 after purchasing an additional 9,800 shares during the period. 98.22% of the stock is owned by institutional investors and hedge funds.

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.