Liberty Energy (NYSE:LBRT) Price Target Raised to $12.00

Liberty Energy (NYSE:LBRT) had its price objective boosted by Wells Fargo & Company from $11.00 to $12.00 in a research note issued to investors on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

LBRT has been the topic of several other reports. Cowen reiterated a “hold” rating on shares of Liberty Energy in a research report on Monday, April 21st. The Goldman Sachs Group dropped their target price on shares of Liberty Energy from $19.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Citigroup dropped their target price on shares of Liberty Energy from $16.00 to $13.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley decreased their price target on shares of Liberty Energy from $25.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Finally, Royal Bank of Canada lowered shares of Liberty Energy from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $24.00 to $19.00 in a research note on Monday, March 24th. Eight analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.23.

Liberty Energy Stock Performance

Shares of LBRT stock opened at $12.33 on Thursday. The company has a fifty day moving average price of $11.84 and a two-hundred day moving average price of $16.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.27 and a quick ratio of 0.97. The stock has a market cap of $2.00 billion, a P/E ratio of 6.59 and a beta of 0.71. Liberty Energy has a one year low of $9.50 and a one year high of $24.43.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings data on Wednesday, April 16th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. Liberty Energy had a net margin of 7.32% and a return on equity of 14.28%. The business had revenue of $977.46 million during the quarter, compared to analysts’ expectations of $960.64 million. During the same quarter in the previous year, the company earned $0.48 EPS. As a group, equities analysts predict that Liberty Energy will post 0.58 EPS for the current year.

Liberty Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, June 6th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.60%. Liberty Energy’s dividend payout ratio is currently 21.19%.

Institutional Investors Weigh In On Liberty Energy

A number of large investors have recently made changes to their positions in the company. Xponance Inc. lifted its holdings in Liberty Energy by 7.0% in the 4th quarter. Xponance Inc. now owns 11,263 shares of the company’s stock worth $224,000 after purchasing an additional 733 shares in the last quarter. Yousif Capital Management LLC raised its holdings in Liberty Energy by 1.5% during the 1st quarter. Yousif Capital Management LLC now owns 62,536 shares of the company’s stock valued at $990,000 after buying an additional 914 shares during the period. Cooper Financial Group grew its position in Liberty Energy by 10.9% in the 1st quarter. Cooper Financial Group now owns 11,641 shares of the company’s stock valued at $184,000 after acquiring an additional 1,145 shares during the last quarter. Empirical Finance LLC grew its position in Liberty Energy by 2.2% in the 4th quarter. Empirical Finance LLC now owns 54,149 shares of the company’s stock valued at $1,077,000 after acquiring an additional 1,185 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Liberty Energy by 45.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,465 shares of the company’s stock valued at $71,000 after acquiring an additional 1,392 shares during the last quarter. 98.22% of the stock is currently owned by 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.