Liberty Energy (NYSE:LBRT) PT Lowered to $23.00 at Royal Bank of Canada

Liberty Energy (NYSE:LBRT) had its price target trimmed by Royal Bank of Canada from $26.00 to $23.00 in a report released on Friday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the stock. Bank of America reduced their target price on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Piper Sandler reduced their target price on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Citigroup downgraded shares of Liberty Energy from a “buy” rating to a “neutral” rating and cut their price objective for the company from $25.00 to $19.00 in a report on Friday. TD Cowen cut their price objective on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Friday, July 19th. Finally, Barclays cut their price objective on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Liberty Energy currently has an average rating of “Moderate Buy” and a consensus price target of $22.70.

Liberty Energy Stock Down 0.9 %

NYSE:LBRT opened at $17.54 on Friday. Liberty Energy has a 1-year low of $16.69 and a 1-year high of $24.75. The company has a 50-day moving average of $19.96 and a 200 day moving average of $21.27. The firm has a market cap of $2.92 billion, a PE ratio of 6.40, a price-to-earnings-growth ratio of 1.20 and a beta of 1.68. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 1.07.

Liberty Energy (NYSE:LBRT) last announced its earnings results on Wednesday, October 16th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 earnings per share. As a group, research analysts anticipate that Liberty Energy will post 2.14 EPS for the current fiscal year.

Liberty Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.82%. The ex-dividend date is Friday, December 6th. This is an increase from Liberty Energy’s previous quarterly dividend of $0.07. Liberty Energy’s dividend payout ratio is 11.68%.

Insider Buying and Selling

In other Liberty Energy news, CFO Michael Stock sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $22.92, for a total value of $458,400.00. Following the sale, the chief financial officer now owns 765,207 shares in the company, valued at approximately $17,538,544.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last quarter, insiders have sold 95,000 shares of company stock worth $1,945,650. 3.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. lifted its holdings in Liberty Energy by 17.6% in the 2nd quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock valued at $82,754,000 after purchasing an additional 594,051 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Liberty Energy by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,634,256 shares of the company’s stock valued at $55,030,000 after purchasing an additional 67,362 shares in the last quarter. Hennessy Advisors Inc. lifted its holdings in Liberty Energy by 48.0% in the 2nd quarter. Hennessy Advisors Inc. now owns 1,981,100 shares of the company’s stock valued at $41,385,000 after purchasing an additional 642,700 shares in the last quarter. LSV Asset Management lifted its holdings in Liberty Energy by 19.5% in the 2nd quarter. LSV Asset Management now owns 1,717,591 shares of the company’s stock valued at $35,880,000 after purchasing an additional 280,550 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Liberty Energy by 34.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,498,921 shares of the company’s stock valued at $31,312,000 after purchasing an additional 381,841 shares in the last quarter. 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.