Liberty Energy Inc. (NYSE:LBRT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Liberty Energy Inc. (NYSE:LBRT) has been given an average recommendation of “Moderate Buy” by the thirteen analysts that are presently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $29.55.

LBRT has been the topic of a number of research analyst reports. Royal Bank Of Canada reduced their price target on shares of Liberty Energy from $34.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Friday, July 24th. Morgan Stanley set a $32.00 price objective on shares of Liberty Energy in a research note on Friday, July 24th. The Goldman Sachs Group set a $23.00 target price on shares of Liberty Energy in a research report on Friday, August 7th. Wall Street Zen lowered shares of Liberty Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Piper Sandler decreased their target price on shares of Liberty Energy from $34.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, August 27th.

Insiders Place Their Bets

In related news, CFO Michael Stock sold 6,666 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $19.84, for a total transaction of $132,253.44. Following the sale, the chief financial officer owned 760,379 shares in the company, valued at $15,085,919.36. The trade was a 0.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Arjun Murti bought 14,053 shares of the stock in a transaction on Tuesday, July 28th. The stock was purchased at an average cost of $17.79 per share, with a total value of $250,002.87. Following the acquisition, the director owned 41,621 shares in the company, valued at approximately $740,437.59. This represents a 50.98% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 19,998 shares of company stock worth $450,955 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Liberty Energy

Hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in Liberty Energy by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,233,668 shares of the company’s stock worth $265,931,000 after acquiring an additional 431,269 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Liberty Energy by 901.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,431,125 shares of the company’s stock valued at $127,616,000 after purchasing an additional 3,988,535 shares during the period. Bank of New York Mellon Corp bought a new position in Liberty Energy during the 2nd quarter worth $61,185,000. Eventide Asset Management LLC bought a new position in Liberty Energy during the 4th quarter worth $36,394,000. Finally, Bridgeway Capital Management LLC lifted its holdings in Liberty Energy by 6.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,238,961 shares of the company’s stock worth $22,871,000 after buying an additional 69,780 shares during the period. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Liberty Energy Stock Up 3.8%

NYSE LBRT opened at $18.93 on Tuesday. The business has a fifty day moving average price of $19.93 and a two-hundred day moving average price of $25.82. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.99 and a quick ratio of 1.75. Liberty Energy has a fifty-two week low of $11.52 and a fifty-two week high of $34.48. The stock has a market capitalization of $3.09 billion, a PE ratio of 25.59, a PEG ratio of 2.59 and a beta of 0.61.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. Liberty Energy had a return on equity of 1.14% and a net margin of 2.92%.The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the company posted $0.12 EPS. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. Equities analysts expect that Liberty Energy will post 0.35 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.36 annualized dividend and a dividend yield of 1.9%. Liberty Energy’s dividend payout ratio (DPR) is 48.65%.

About Liberty Energy

Liberty Energy Inc is an energy services company that provides specialized equipment, technology and services used in the development of onshore oil and natural gas resources. The company primarily supports exploration and production companies during the well-completion process, with an emphasis on hydraulic fracturing and related operations.

Its services and products include hydraulic fracturing, wireline services, proppant logistics, frac-related equipment, field engineering and operational support.