Liberty Energy (NYSE:LBRT) Given New $23.00 Price Target at Bank of America

Liberty Energy (NYSE:LBRT) had its price target increased by Bank of America from $20.00 to $23.00 in a report released on Monday, Benzinga reports. They currently have a neutral rating on the stock.

LBRT has been the subject of several other research reports. Morgan Stanley increased their price objective on Liberty Energy from $23.00 to $24.00 and gave the stock an equal weight rating in a research report on Monday, January 29th. Wells Fargo & Company decreased their price objective on shares of Liberty Energy from $25.00 to $24.00 and set an overweight rating on the stock in a report on Thursday, December 21st. Finally, Piper Sandler increased their target price on shares of Liberty Energy from $27.00 to $28.00 and gave the company an overweight rating in a report on Friday, January 26th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $23.67.

Liberty Energy Stock Up 2.7 %

Shares of NYSE:LBRT opened at $22.11 on Monday. Liberty Energy has a fifty-two week low of $11.62 and a fifty-two week high of $23.31. The company has a quick ratio of 1.17, a current ratio of 1.49 and a debt-to-equity ratio of 0.15. The firm’s 50-day simple moving average is $21.15 and its 200-day simple moving average is $19.65. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 1.05 and a beta of 1.85.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Wednesday, April 17th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. Liberty Energy had a net margin of 11.72% and a return on equity of 32.28%. Liberty Energy’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 EPS. As a group, equities research analysts predict that Liberty Energy will post 2.64 earnings per share for the current year.

Liberty Energy Dividend Announcement

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 paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.27%. Liberty Energy’s dividend payout ratio (DPR) is 8.86%.

Insider Buying and Selling

In other Liberty Energy news, CAO Ryan T. Gosney sold 6,000 shares of the firm’s 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 transaction, the chief accounting officer now owns 140,706 shares of the company’s stock, valued at $2,884,473. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Liberty Energy news, CAO Ryan T. Gosney sold 6,000 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total value of $123,000.00. Following the transaction, the chief accounting officer now directly owns 140,706 shares in the company, valued at approximately $2,884,473. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $20.27, for a total transaction of $405,400.00. Following the sale, the chief executive officer now owns 2,830,402 shares of the company’s stock, valued at $57,372,248.54. The disclosure for this sale can be found here. Insiders sold 98,459 shares of company stock worth $2,077,491 in the last ninety days. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LBRT. Vanguard Group Inc. increased its stake in Liberty Energy by 4.5% in the third quarter. Vanguard Group Inc. now owns 20,546,529 shares of the company’s stock valued at $380,522,000 after purchasing an additional 893,563 shares during the last quarter. BlackRock Inc. increased its stake in shares of Liberty Energy by 10.3% during the 2nd quarter. BlackRock Inc. now owns 14,720,744 shares of the company’s stock valued at $196,816,000 after acquiring an additional 1,376,187 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Liberty Energy by 5.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,553,932 shares of the company’s stock worth $172,948,000 after acquiring an additional 734,764 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Liberty Energy by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,443,849 shares of the company’s stock worth $171,314,000 after acquiring an additional 404,211 shares during the last quarter. Finally, Macquarie Group Ltd. grew its holdings in Liberty Energy by 181.5% in the first quarter. Macquarie Group Ltd. now owns 8,085,410 shares of the company’s stock valued at $103,574,000 after purchasing an additional 5,213,132 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.