Liberty Energy (NYSE:LBRT) Research Coverage Started at Piper Sandler

Piper Sandler assumed coverage on shares of Liberty Energy (NYSE:LBRT) in a research report sent to investors on Tuesday morning, Marketbeat reports. The brokerage issued a neutral rating and a $14.00 price objective on the stock.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company increased their price objective on Liberty Energy from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 5th. The Goldman Sachs Group lowered their target price on Liberty Energy from $19.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. lowered their price target on shares of Liberty Energy from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, May 28th. Stifel Nicolaus lowered their price objective on Liberty Energy from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Finally, TD Cowen upped their price target on shares of Liberty Energy from $10.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, April 21st. Eight investment analysts have rated the stock with a hold rating, three have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.65.

Liberty Energy Stock Up 4.0%

Shares of NYSE:LBRT opened at $11.60 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 0.91. Liberty Energy has a 1-year low of $9.50 and a 1-year high of $24.43. The firm has a fifty day moving average price of $12.22 and a 200 day moving average price of $14.80. The stock has a market cap of $1.88 billion, a P/E ratio of 7.68 and a beta of 0.66.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings data on Wednesday, April 16th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Liberty Energy had a net margin of 6.03% and a return on equity of 10.30%. The firm had revenue of $977.46 million for the quarter, compared to analyst estimates of $960.64 million. During the same period last year, the firm posted $0.48 EPS. Sell-side analysts predict that Liberty Energy will post 0.58 EPS for the current year.

Liberty Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Thursday, September 4th. Liberty Energy’s dividend payout ratio is presently 21.19%.

Institutional Investors Weigh In On Liberty Energy

A number of large investors have recently added to or reduced their stakes in LBRT. Franklin Resources Inc. increased its stake in shares of Liberty Energy by 83.5% in the fourth quarter. Franklin Resources Inc. now owns 4,828,712 shares of the company’s stock worth $96,043,000 after buying an additional 2,197,352 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Liberty Energy by 6.5% during the first quarter. Vanguard Group Inc. now owns 18,443,909 shares of the company’s stock worth $291,967,000 after acquiring an additional 1,128,491 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in Liberty Energy in the 4th quarter worth about $20,337,000. American Century Companies Inc. increased its position in Liberty Energy by 10.8% in the 4th quarter. American Century Companies Inc. now owns 5,178,089 shares of the company’s stock valued at $102,992,000 after acquiring an additional 505,634 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Liberty Energy during the first quarter valued at $7,743,000. 98.22% of the stock is owned by institutional investors and hedge funds.

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.