Liberty Energy (NYSE:LBRT) Upgraded at Zacks Research

Zacks Research upgraded shares of Liberty Energy (NYSE:LBRT) from a strong sell rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

Several other research analysts have also commented on LBRT. TD Cowen lifted their price target on Liberty Energy from $10.00 to $15.00 and gave the stock a “hold” rating in a report on Wednesday, November 5th. UBS Group began coverage on shares of Liberty Energy in a research report on Tuesday, December 2nd. They set a “buy” rating and a $23.00 price target for the company. The Goldman Sachs Group boosted their price target on shares of Liberty Energy from $11.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Royal Bank Of Canada increased their price objective on shares of Liberty Energy from $15.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 25th. Finally, Cowen reissued a “hold” rating on shares of Liberty Energy in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Liberty Energy currently has an average rating of “Hold” and a consensus target price of $18.64.

Liberty Energy Price Performance

Liberty Energy stock opened at $17.08 on Monday. The stock has a market capitalization of $2.77 billion, a P/E ratio of 15.25 and a beta of 0.47. The company’s fifty day moving average price is $16.92 and its 200 day moving average price is $13.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.32. Liberty Energy has a 1 year low of $9.50 and a 1 year high of $23.58.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Thursday, October 16th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). Liberty Energy had a net margin of 4.76% and a return on equity of 1.69%. The company had revenue of $947.40 million during the quarter, compared to analysts’ expectations of $967.05 million. During the same period in the prior year, the business posted $0.45 earnings per share. The company’s quarterly revenue was down 16.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Liberty Energy will post 0.58 earnings per share for the current fiscal year.

Liberty Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be paid a $0.09 dividend. This is an increase from Liberty Energy’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Thursday, December 4th. Liberty Energy’s payout ratio is presently 32.14%.

Institutional Investors Weigh In On Liberty Energy

A number of large investors have recently modified their holdings of the company. Wellington Shields Capital Management LLC acquired a new position in shares of Liberty Energy during the second quarter worth $29,000. Kelleher Financial Advisors acquired a new position in shares of Liberty Energy during the 3rd quarter worth about $29,000. Advisory Services Network LLC purchased a new position in shares of Liberty Energy in the 3rd quarter valued at about $35,000. Smartleaf Asset Management LLC raised its position in shares of Liberty Energy by 213.7% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,607 shares of the company’s stock worth $42,000 after acquiring an additional 2,457 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Liberty Energy during the second quarter worth approximately $48,000. 98.22% of the stock is owned by hedge funds and other institutional investors.

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.