Liberty Energy (NYSE:LBRT) Now Covered by UBS Group

UBS Group began coverage on shares of Liberty Energy (NYSE:LBRT) in a report issued on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $23.00 price objective on the stock.

Several other analysts have also recently issued reports on the company. TD Cowen increased their target price on Liberty Energy from $10.00 to $15.00 and gave the stock a “hold” rating in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Liberty Energy in a report on Monday. The Goldman Sachs Group increased their price objective on shares of Liberty Energy from $11.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, October 21st. Barclays lifted their target price on Liberty Energy from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Finally, Royal Bank Of Canada boosted their target price on Liberty Energy from $15.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.36.

Liberty Energy Stock Up 3.0%

LBRT stock opened at $19.20 on Tuesday. The business’s 50-day moving average price is $15.61 and its 200-day moving average price is $13.10. The stock has a market cap of $3.11 billion, a P/E ratio of 17.14 and a beta of 0.47. The company has a quick ratio of 1.05, a current ratio of 1.32 and a debt-to-equity ratio of 0.22. Liberty Energy has a twelve month low of $9.50 and a twelve month high of $23.58.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Thursday, October 16th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). Liberty Energy had a return on equity of 1.69% and a net margin of 4.76%.The firm had revenue of $947.40 million during the quarter, compared to analysts’ expectations of $967.05 million. During the same period last year, the company earned $0.45 earnings per share. The business’s revenue for the quarter was down 16.8% on a year-over-year basis. On average, equities research analysts forecast that Liberty Energy will post 0.58 EPS for the current year.

Liberty Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a $0.09 dividend. This is an increase from Liberty Energy’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.9%. The ex-dividend date is Thursday, December 4th. Liberty Energy’s dividend payout ratio (DPR) is 32.14%.

Institutional Investors Weigh In On Liberty Energy

Several institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its holdings in shares of Liberty Energy by 78.5% in the 3rd quarter. Franklin Resources Inc. now owns 8,575,840 shares of the company’s stock worth $105,826,000 after purchasing an additional 3,771,724 shares during the period. Balyasny Asset Management L.P. lifted its position in Liberty Energy by 1,529.2% in the third quarter. Balyasny Asset Management L.P. now owns 2,753,357 shares of the company’s stock worth $33,976,000 after buying an additional 2,584,359 shares during the last quarter. Sourcerock Group LLC purchased a new position in Liberty Energy during the second quarter worth $23,653,000. Cooper Creek Partners Management LLC purchased a new position in Liberty Energy during the third quarter worth $22,336,000. Finally, American Century Companies Inc. increased its position in Liberty Energy by 28.2% during the third quarter. American Century Companies Inc. now owns 7,809,390 shares of the company’s stock valued at $96,368,000 after acquiring an additional 1,716,007 shares during the last quarter. 98.22% of the stock is 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.