Liberty Energy Inc. (NYSE:LBRT) Given Average Rating of “Moderate Buy” by Brokerages

Liberty Energy Inc. (NYSE:LBRT) has earned an average rating of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $24.78.

Several brokerages have recently issued reports on LBRT. Piper Sandler decreased their price objective on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Bank of America lowered their price objective on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Barclays reduced their target price on shares of Liberty Energy from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Finally, TD Cowen lowered their price target on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a report on Friday, July 19th.

Liberty Energy Stock Performance

Shares of NYSE LBRT opened at $18.65 on Friday. The company has a market cap of $3.08 billion, a P/E ratio of 6.81, a P/E/G ratio of 1.24 and a beta of 1.68. Liberty Energy has a 52-week low of $16.33 and a 52-week high of $24.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35. The firm’s fifty day moving average is $20.63 and its two-hundred day moving average is $21.41.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.87 earnings per share. As a group, analysts anticipate that Liberty Energy will post 2.18 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.50%. Liberty Energy’s dividend payout ratio is presently 10.22%.

Insider Activity at Liberty Energy

In other news, CFO Michael Stock sold 15,626 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $20.82, for a total value of $325,333.32. Following the sale, the chief financial officer now directly owns 789,581 shares in the company, valued at $16,439,076.42. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Michael Stock sold 15,626 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $20.82, for a total transaction of $325,333.32. Following the completion of the sale, the chief financial officer now directly owns 789,581 shares of the company’s stock, valued at $16,439,076.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $19.91, for a total transaction of $398,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,678,813 shares in the company, valued at approximately $53,335,166.83. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 100,000 shares of company stock worth $2,084,231. Insiders own 3.60% of the company’s stock.

Institutional Trading of Liberty Energy

A number of large investors have recently modified their holdings of the company. Foundry Partners LLC grew its holdings in Liberty Energy by 15.6% during the 1st quarter. Foundry Partners LLC now owns 209,056 shares of the company’s stock worth $4,332,000 after acquiring an additional 28,153 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Liberty Energy by 114.2% during the first quarter. Russell Investments Group Ltd. now owns 174,265 shares of the company’s stock valued at $3,611,000 after purchasing an additional 92,923 shares in the last quarter. Hennessy Advisors Inc. increased its holdings in Liberty Energy by 14.1% during the first quarter. Hennessy Advisors Inc. now owns 1,338,400 shares of the company’s stock valued at $27,732,000 after buying an additional 165,400 shares during the period. LSV Asset Management raised its stake in Liberty Energy by 60.2% in the first quarter. LSV Asset Management now owns 1,437,041 shares of the company’s stock worth $29,775,000 after buying an additional 539,861 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in Liberty Energy during the first quarter worth $690,000. Hedge funds and other institutional investors own 98.22% of the company’s stock.

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.