Liberty Energy (NYSE:LBRT) Price Target Raised to $19.00

Liberty Energy (NYSE:LBRT) had its price objective increased by TD Cowen from $15.00 to $19.00 in a report released on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

Several other brokerages also recently commented on LBRT. Citigroup raised Liberty Energy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $12.00 to $21.00 in a research report on Tuesday, October 21st. UBS Group restated a “buy” rating on shares of Liberty Energy in a research note on Tuesday. Zacks Research upgraded shares of Liberty Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, December 15th. The Goldman Sachs Group increased their price target 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. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Liberty Energy in a research report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Liberty Energy presently has an average rating of “Hold” and a consensus price target of $19.00.

Liberty Energy Stock Performance

NYSE:LBRT opened at $19.66 on Wednesday. The firm has a market capitalization of $3.18 billion, a PE ratio of 17.55 and a beta of 0.45. Liberty Energy has a 1 year low of $9.50 and a 1 year high of $23.58. The company has a current ratio of 1.32, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. The firm’s fifty day simple moving average is $18.07 and its 200 day simple moving average is $14.31.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings results 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). The firm had revenue of $947.40 million for the quarter, compared to the consensus estimate of $967.05 million. Liberty Energy had a net margin of 4.76% and a return on equity of 1.69%. The firm’s revenue was down 16.8% on a year-over-year basis. During the same quarter last year, the company earned $0.45 earnings per share. On average, sell-side analysts anticipate that Liberty Energy will post 0.58 EPS for the current year.

Liberty Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, December 4th. This is a boost from Liberty Energy’s previous quarterly dividend of $0.08. Liberty Energy’s payout ratio is currently 32.14%.

Institutional Trading of Liberty Energy

Institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. raised its stake in Liberty Energy by 78.5% during the third quarter. Franklin Resources Inc. now owns 8,575,840 shares of the company’s stock worth $105,826,000 after acquiring an additional 3,771,724 shares in the last quarter. American Century Companies Inc. increased its position in shares of Liberty Energy by 28.2% during the 3rd quarter. American Century Companies Inc. now owns 7,809,390 shares of the company’s stock worth $96,368,000 after purchasing an additional 1,716,007 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Liberty Energy by 21.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,967,041 shares of the company’s stock valued at $34,062,000 after purchasing an additional 529,023 shares during the last quarter. Balyasny Asset Management L.P. boosted 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 valued at $33,976,000 after buying an additional 2,584,359 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Liberty Energy by 20.4% during the second quarter. Bank of New York Mellon Corp now owns 2,161,558 shares of the company’s stock worth $24,815,000 after buying an additional 365,506 shares during the last quarter. Institutional investors and hedge funds 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. As of as of December 31, 2023, the company owned and operated a fleet of approximately 40 active hydraulic fracturing; and two sand mines in the Permian Basin.