Liberty Energy (NYSE:LBRT) Given New $16.00 Price Target at TD Cowen

Liberty Energy (NYSE:LBRT - Free Report) had its target price decreased by TD Cowen from $18.00 to $16.00 in a report released on Wednesday morning,Benzinga reports. TD Cowen currently has a hold rating on the stock.

Other research analysts also recently issued reports about the stock. Stifel Nicolaus reduced their target price on shares of Liberty Energy from $25.00 to $23.00 and set a "buy" rating for the company in a research report on Monday. Citigroup upped their price objective on shares of Liberty Energy from $19.00 to $22.00 and gave the company a "neutral" rating in a report on Tuesday. The Goldman Sachs Group started coverage on shares of Liberty Energy in a report on Friday, December 13th. They set a "neutral" rating and a $19.00 target price on the stock. Royal Bank of Canada cut their price target on Liberty Energy from $26.00 to $23.00 and set an "outperform" rating for the company in a report on Friday, October 18th. Finally, Wells Fargo & Company dropped their price objective on Liberty Energy from $25.00 to $24.00 and set an "overweight" rating on the stock in a report on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $22.20.

Liberty Energy Stock Down 1.2 %

LBRT stock traded down $0.27 during midday trading on Wednesday, reaching $21.34. 2,861,709 shares of the company's stock traded hands, compared to its average volume of 2,995,635. The company has a market cap of $3.49 billion, a price-to-earnings ratio of 10.16 and a beta of 1.66. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. Liberty Energy has a 52 week low of $16.57 and a 52 week high of $24.75. The firm's fifty day moving average price is $18.48 and its 200-day moving average price is $19.65.

Liberty Energy (NYSE:LBRT - Get Free Report) last released its quarterly 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). Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the previous year, the company posted $0.85 earnings per share. The company's quarterly revenue was down 6.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Liberty Energy will post 1.72 earnings per share for the current fiscal year.

Liberty Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.08 per share. 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 1.50%. The ex-dividend date of this dividend was Friday, December 6th. Liberty Energy's dividend payout ratio (DPR) is presently 15.24%.

Insider Activity

In other news, CEO Christopher A. Wright sold 2,037 shares of Liberty Energy stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $18.15, for a total value of $36,971.55. Following the sale, the chief executive officer now directly owns 2,578,813 shares in the company, valued at approximately $46,805,455.95. This trade represents a 0.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Stock sold 5,000 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $18.45, for a total transaction of $92,250.00. Following the completion of the transaction, the chief financial officer now owns 720,207 shares of the company's stock, valued at $13,287,819.15. This trade represents a 0.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,973 shares of company stock valued at $1,471,335. Corporate insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On Liberty Energy

Hedge funds have recently bought and sold shares of the business. Empowered Funds LLC grew its holdings in shares of Liberty Energy by 45.1% during the third quarter. Empowered Funds LLC now owns 495,578 shares of the company's stock valued at $9,461,000 after buying an additional 154,070 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Liberty Energy by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 872,215 shares of the company's stock valued at $16,651,000 after acquiring an additional 37,927 shares during the period. JPMorgan Chase & Co. boosted its holdings in Liberty Energy by 61.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,146,179 shares of the company's stock worth $60,061,000 after buying an additional 1,193,918 shares during the period. Quest Partners LLC raised its stake in Liberty Energy by 168.2% during the 3rd quarter. Quest Partners LLC now owns 62,979 shares of the company's stock valued at $1,202,000 after purchasing an additional 39,497 shares during the period. Finally, Impala Asset Management LLC grew its holdings in Liberty Energy by 89.2% during the 3rd quarter. Impala Asset Management LLC now owns 350,000 shares of the company's stock valued at $6,682,000 after buying an additional 165,000 shares in the last quarter. 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.