Liberty Energy (NYSE:LBRT) Price Target Lowered to $22.00 at Stifel Nicolaus

Liberty Energy (NYSE:LBRT) had its price target trimmed by Stifel Nicolaus from $23.00 to $22.00 in a report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

LBRT has been the subject of several other research reports. The Goldman Sachs Group dropped their price target on shares of Liberty Energy from $19.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Barclays lowered their target price on Liberty Energy from $21.00 to $17.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Royal Bank of Canada lowered Liberty Energy from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $24.00 to $19.00 in a research report on Monday, March 24th. Morgan Stanley raised Liberty Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $20.00 to $25.00 in a research report on Thursday, March 27th. Finally, Seaport Res Ptn raised shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a report on Sunday, January 5th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.05.

Liberty Energy Price Performance

LBRT stock opened at $12.05 on Tuesday. The business’s fifty day moving average price is $14.59 and its 200 day moving average price is $17.49. Liberty Energy has a 12-month low of $9.50 and a 12-month high of $24.75. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $1.95 billion, a PE ratio of 6.44 and a beta of 1.18.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Wednesday, April 16th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Liberty Energy had a net margin of 7.32% and a return on equity of 14.28%. The company had revenue of $977.46 million for the quarter, compared to analyst estimates of $960.64 million. During the same period in the prior year, the firm earned $0.48 earnings per share. On average, sell-side analysts anticipate that Liberty Energy will post 0.58 EPS for the current year.

Liberty Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Friday, June 6th. Liberty Energy’s dividend payout ratio (DPR) is currently 21.19%.

Insider Activity

In other news, CFO Michael Stock sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $17.94, for a total transaction of $179,400.00. Following the transaction, the chief financial officer now directly owns 717,292 shares in the company, valued at approximately $12,868,218.48. This trade represents a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC boosted its stake in shares of Liberty Energy by 197.9% during the third quarter. Barclays PLC now owns 286,661 shares of the company’s stock worth $5,471,000 after buying an additional 190,445 shares during the period. Sanctuary Advisors LLC raised its stake in Liberty Energy by 11.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 31,077 shares of the company’s stock valued at $590,000 after acquiring an additional 3,160 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Liberty Energy during the 3rd quarter worth approximately $403,000. Tidal Investments LLC increased its holdings in shares of Liberty Energy by 14.6% in the third quarter. Tidal Investments LLC now owns 14,299 shares of the company’s stock valued at $273,000 after purchasing an additional 1,817 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Liberty Energy by 2.4% during the third quarter. Franklin Resources Inc. now owns 2,631,360 shares of the company’s stock worth $53,706,000 after purchasing an additional 61,909 shares during the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.

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.