Citigroup Issues Positive Forecast for Liberty Energy (NYSE:LBRT) Stock Price

Liberty Energy (NYSE:LBRT - Free Report) had its price target increased by Citigroup from $19.00 to $22.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts also recently issued reports about the stock. Seaport Res Ptn raised shares of Liberty Energy from a "hold" rating to a "strong-buy" rating in a research report on Sunday. Atb Cap Markets raised shares of Liberty Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, December 10th. Evercore ISI raised shares of Liberty Energy to a "strong-buy" rating in a research report on Thursday, October 17th. Royal Bank of Canada dropped their target price on shares of Liberty Energy from $26.00 to $23.00 and set an "outperform" rating on the stock in a research report on Friday, October 18th. Finally, The Goldman Sachs Group started coverage on shares of Liberty Energy in a research report on Friday, December 13th. They issued a "neutral" rating and a $19.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $22.60.

Liberty Energy Price Performance

Shares of LBRT traded up $0.48 during mid-day trading on Tuesday, hitting $21.67. The company's stock had a trading volume of 3,557,137 shares, compared to its average volume of 3,029,105. The firm has a 50-day moving average price of $18.48 and a 200 day moving average price of $19.65. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 10.32 and a beta of 1.66. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.97. Liberty Energy has a fifty-two week low of $16.57 and a fifty-two week high of $24.75.

Liberty Energy (NYSE:LBRT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 18.50% and a net margin of 8.02%. The business's revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 EPS. On average, research analysts predict that Liberty Energy will post 1.72 EPS for the current fiscal year.

Liberty Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, December 6th. This is a boost from Liberty Energy's previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a yield of 1.48%. Liberty Energy's payout ratio is 15.24%.

Insider Buying and Selling at Liberty Energy

In related news, CEO Christopher A. Wright sold 2,936 shares of the business's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $19.16, for a total transaction of $56,253.76. Following the transaction, the chief executive officer now owns 2,543,877 shares of the company's stock, valued at approximately $48,740,683.32. The trade was a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael Stock sold 20,000 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $20.82, for a total transaction of $416,400.00. Following the transaction, the chief financial officer now directly owns 680,207 shares in the company, valued at $14,161,909.74. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,973 shares of company stock worth $1,471,335 over the last ninety days. 3.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Liberty Energy

Several institutional investors and hedge funds have recently bought and sold shares of LBRT. Covestor Ltd lifted its position in Liberty Energy by 96.8% during the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company's stock worth $33,000 after buying an additional 838 shares in the last quarter. Quarry LP lifted its position in Liberty Energy by 237.5% during the 3rd quarter. Quarry LP now owns 1,991 shares of the company's stock valued at $38,000 after purchasing an additional 1,401 shares during the period. GAMMA Investing LLC lifted its position in Liberty Energy by 82.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,174 shares of the company's stock valued at $61,000 after purchasing an additional 1,431 shares during the period. US Bancorp DE lifted its position in Liberty Energy by 93.2% during the 3rd quarter. US Bancorp DE now owns 4,180 shares of the company's stock valued at $80,000 after purchasing an additional 2,016 shares during the period. Finally, KBC Group NV lifted its position in Liberty Energy by 24.8% during the 3rd quarter. KBC Group NV now owns 4,906 shares of the company's stock valued at $94,000 after purchasing an additional 974 shares during the period. 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.