TD Cowen Issues Positive Forecast for Liberty Energy (NYSE:LBRT) Stock Price

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

A number of other research firms have also issued reports on LBRT. Cowen reiterated a “hold” rating on shares of Liberty Energy in a report on Wednesday. UBS Group reiterated a “buy” rating on shares of Liberty Energy in a research note on Tuesday. Weiss Ratings reissued a “hold (c-)” rating on shares of Liberty Energy in a research note on Monday, December 29th. Zacks Research raised Liberty Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, December 15th. Finally, The Goldman Sachs Group lifted their price objective on Liberty Energy from $11.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.00.

Liberty Energy Price Performance

LBRT opened at $18.99 on Wednesday. The stock’s 50-day moving average price is $18.03 and its 200 day moving average price is $14.22. Liberty Energy has a 12-month low of $9.50 and a 12-month high of $23.58. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 16.96 and a beta of 0.45. The company has a current ratio of 1.32, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22.

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

Liberty Energy Increases Dividend

The firm also recently disclosed 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 1.9%. The ex-dividend date was Thursday, December 4th. This is an increase from Liberty Energy’s previous quarterly dividend of $0.08. Liberty Energy’s dividend payout ratio (DPR) is currently 32.14%.

Hedge Funds Weigh In On Liberty Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LBRT. Alpha Wealth Funds LLC purchased a new stake in Liberty Energy in the 2nd quarter valued at $202,000. American Century Companies Inc. increased its stake in Liberty Energy by 10.6% in the second quarter. American Century Companies Inc. now owns 6,093,383 shares of the company’s stock valued at $69,952,000 after purchasing an additional 584,774 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Liberty Energy by 112.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 38,055 shares of the company’s stock valued at $437,000 after buying an additional 20,158 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Liberty Energy by 168.7% in the first quarter. Integrated Wealth Concepts LLC now owns 57,782 shares of the company’s stock valued at $915,000 after buying an additional 36,279 shares during the last quarter. Finally, Peregrine Capital Management LLC boosted its stake in shares of Liberty Energy by 33.9% during the second quarter. Peregrine Capital Management LLC now owns 317,895 shares of the company’s stock worth $3,649,000 after buying an additional 80,403 shares during the period. 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. 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.