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

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

A number of other analysts also recently issued reports on the company. Barclays cut their price objective on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. TD Cowen lowered their target price on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Friday, July 19th. Stifel Nicolaus lowered their target price on shares of Liberty Energy from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Piper Sandler lowered their target price on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, Citigroup lowered shares of Liberty Energy from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $25.00 to $19.00 in a research note on Friday. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $22.70.

Liberty Energy Stock Performance

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

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The company’s revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.85 earnings per share. Analysts forecast that Liberty Energy will post 2.14 EPS for the current year.

Liberty Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.08 dividend. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.32 annualized dividend and a dividend yield of 1.82%. Liberty Energy’s dividend payout ratio (DPR) is presently 11.68%.

Insider Activity

In related news, CFO Michael Stock sold 15,000 shares of Liberty Energy stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $20.01, for a total value of $300,150.00. Following the completion of the transaction, the chief financial officer now owns 750,207 shares in the company, valued at $15,011,642.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $19.91, for a total value of $398,200.00. Following the completion of the transaction, the chief executive officer now owns 2,678,813 shares in the company, valued at $53,335,166.83. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Stock sold 15,000 shares of Liberty Energy stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $20.01, for a total transaction of $300,150.00. Following the completion of the transaction, the chief financial officer now owns 750,207 shares of the company’s stock, valued at $15,011,642.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,000 shares of company stock valued at $1,945,650. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of Liberty Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Well Done LLC increased its holdings in shares of Liberty Energy by 14.3% in the 3rd quarter. Well Done LLC now owns 16,028 shares of the company’s stock valued at $306,000 after acquiring an additional 2,003 shares during the period. AlphaMark Advisors LLC acquired a new position in shares of Liberty Energy in the 3rd quarter valued at $293,000. nVerses Capital LLC increased its holdings in shares of Liberty Energy by 279.3% in the 3rd quarter. nVerses Capital LLC now owns 11,000 shares of the company’s stock valued at $210,000 after acquiring an additional 8,100 shares during the period. Creative Planning increased its holdings in shares of Liberty Energy by 3.7% in the 3rd quarter. Creative Planning now owns 19,456 shares of the company’s stock valued at $371,000 after acquiring an additional 703 shares during the period. Finally, Wesbanco Bank Inc. acquired a new position in shares of Liberty Energy in the 3rd quarter valued at $1,071,000. Institutional investors and hedge funds 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.