TD Cowen Boosts Liberty Energy (NYSE:LBRT) Price Target to $21.00

Liberty Energy (NYSE:LBRT) had its target price upped by TD Cowen from $19.00 to $21.00 in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The brokerage currently has a hold rating on the stock.

Several other research analysts have also recently issued reports on the company. Wells Fargo & Company dropped their price objective on Liberty Energy from $25.00 to $24.00 and set an overweight rating on the stock in a research note on Thursday, December 21st. Morgan Stanley increased their target price on Liberty Energy from $23.00 to $24.00 and gave the company an equal weight rating in a research report on Monday, January 29th. Bank of America increased their target price on Liberty Energy from $20.00 to $23.00 and gave the company a neutral rating in a research report on Monday, April 15th. Finally, Piper Sandler increased their target price on Liberty Energy from $27.00 to $28.00 and gave the company an overweight rating in a research report on Friday, January 26th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Liberty Energy currently has a consensus rating of Moderate Buy and an average target price of $24.30.

Liberty Energy Stock Up 1.3 %

Shares of NYSE:LBRT opened at $22.38 on Friday. Liberty Energy has a 52-week low of $11.62 and a 52-week high of $23.31. The stock has a market cap of $3.73 billion, a P/E ratio of 8.17, a price-to-earnings-growth ratio of 1.10 and a beta of 1.85. The business’s 50 day moving average is $21.20 and its 200 day moving average is $19.71. The company has a quick ratio of 1.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.09.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Thursday, April 18th. 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 return on equity of 26.46% and a net margin of 10.43%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the company earned $0.90 EPS. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. Sell-side analysts predict that Liberty Energy will post 2.58 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 issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $0.28 annualized dividend and a dividend yield of 1.25%. Liberty Energy’s dividend payout ratio is presently 10.22%.

Insider Activity

In other news, CAO Ryan T. Gosney sold 6,000 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total transaction of $123,000.00. Following the completion of the sale, the chief accounting officer now owns 140,706 shares in the company, valued at approximately $2,884,473. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Ryan T. Gosney sold 6,000 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total transaction of $123,000.00. Following the completion of the sale, the chief accounting officer now owns 140,706 shares in the company, valued at approximately $2,884,473. The sale was disclosed in a document filed with the SEC, which is accessible 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 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. In the last quarter, insiders sold 98,459 shares of company stock worth $2,077,491. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Liberty Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LBRT. Advisor Group Holdings Inc. raised its stake in Liberty Energy by 24.7% in the 1st quarter. Advisor Group Holdings Inc. now owns 13,300 shares of the company’s stock worth $194,000 after acquiring an additional 2,637 shares during the last quarter. Bank of New York Mellon Corp raised its position in Liberty Energy by 129.4% in the first quarter. Bank of New York Mellon Corp now owns 2,089,808 shares of the company’s stock valued at $30,971,000 after purchasing an additional 1,178,716 shares during the period. HighTower Advisors LLC raised its position in Liberty Energy by 17.4% in the first quarter. HighTower Advisors LLC now owns 17,607 shares of the company’s stock valued at $261,000 after purchasing an additional 2,607 shares during the period. Citigroup Inc. raised its position in Liberty Energy by 775.0% in the first quarter. Citigroup Inc. now owns 219,897 shares of the company’s stock valued at $3,259,000 after purchasing an additional 194,767 shares during the period. Finally, MetLife Investment Management LLC raised its position in Liberty Energy by 106.8% in the first quarter. MetLife Investment Management LLC now owns 49,221 shares of the company’s stock valued at $729,000 after purchasing an additional 25,424 shares during the period. 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.