Liberty Energy (NYSE:LBRT) Price Target Cut to $24.00

Liberty Energy (NYSE:LBRT - Free Report) had its target price lowered by Wells Fargo & Company from $25.00 to $24.00 in a report issued on Friday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

LBRT has been the topic of a number of other research reports. Bank of America cut their target price on Liberty Energy from $24.00 to $22.00 and set a "neutral" rating on the stock in a research report on Monday, July 15th. Barclays cut their price objective on Liberty Energy from $26.00 to $24.00 and set an "overweight" rating on the stock in a research report on Wednesday. Royal Bank of Canada reduced their price target on Liberty Energy from $26.00 to $23.00 and set an "outperform" rating on the stock in a research report on Friday. Piper Sandler reduced their target price on shares of Liberty Energy from $28.00 to $25.00 and set an "overweight" rating on the stock in a report on Monday, July 15th. Finally, Citigroup lowered shares of Liberty Energy from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $25.00 to $19.00 in a report on Friday. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Liberty Energy has an average rating of "Moderate Buy" and an average target price of $22.70.

Liberty Energy Trading Down 3.3 %

Shares of NYSE LBRT traded down $0.61 during trading on Friday, hitting $17.69. 5,230,501 shares of the company were exchanged, compared to its average volume of 2,508,886. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35. Liberty Energy has a 12-month low of $16.69 and a 12-month high of $24.75. The company has a fifty day moving average price of $20.08 and a 200-day moving average price of $21.34. The firm has a market capitalization of $2.95 billion, a PE ratio of 6.54, a P/E/G ratio of 1.20 and a beta of 1.68.

Liberty Energy (NYSE:LBRT - Get Free Report) last posted its earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.10). The firm 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 business's revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 earnings per share. As a group, equities research analysts expect that Liberty Energy will post 2.14 EPS for the current year.

Liberty Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.08 per share. 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 1.81%. Liberty Energy's dividend payout ratio (DPR) is presently 11.68%.

Insider Transactions at Liberty Energy

In related news, CEO Christopher A. Wright sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $19.77, for a total transaction of $395,400.00. Following the transaction, the chief executive officer now owns 2,638,813 shares in the company, valued at $52,169,333.01. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $19.77, for a total transaction of $395,400.00. Following the completion of the sale, the chief executive officer now owns 2,638,813 shares in the company, valued at $52,169,333.01. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Stock sold 15,000 shares of Liberty Energy stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $19.23, for a total transaction of $288,450.00. Following the completion of the transaction, the chief financial officer now owns 730,207 shares in the company, valued at approximately $14,041,880.61. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,000 shares of company stock worth $1,945,650. Corporate insiders own 3.60% of the company's stock.

Institutional Trading of Liberty Energy

A number of hedge funds have recently added to or reduced their stakes in LBRT. EdgeRock Capital LLC acquired a new stake in shares of Liberty Energy during the second quarter worth $32,000. GAMMA Investing LLC lifted its stake in shares of Liberty Energy by 69.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,743 shares of the company's stock worth $36,000 after acquiring an additional 713 shares during the period. nVerses Capital LLC boosted its holdings in shares of Liberty Energy by 45.0% in the second quarter. nVerses Capital LLC now owns 2,900 shares of the company's stock valued at $61,000 after acquiring an additional 900 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Liberty Energy by 27.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company's stock worth $59,000 after acquiring an additional 709 shares during the period. Finally, CWM LLC raised its holdings in Liberty Energy by 43.3% during the second quarter. CWM LLC now owns 6,213 shares of the company's stock worth $130,000 after purchasing an additional 1,876 shares in the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

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.