Liberty Energy (NYSE:LBRT) Price Target Raised to $24.00

Liberty Energy (NYSE:LBRT) had its price objective increased by Barclays from $23.00 to $24.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler upgraded Liberty Energy from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $17.00 to $32.00 in a report on Monday, February 2nd. The Goldman Sachs Group upped their price target on Liberty Energy from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, March 4th. Stifel Nicolaus upped their price target on Liberty Energy from $23.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Zacks Research upgraded Liberty Energy from a “strong sell” rating to a “hold” rating in a report on Monday, December 15th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Liberty Energy in a report on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.50.

Liberty Energy Stock Performance

Shares of LBRT stock opened at $27.64 on Thursday. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 31.06 and a beta of 0.48. The stock has a 50 day simple moving average of $27.81 and a 200-day simple moving average of $21.05. Liberty Energy has a 12-month low of $9.90 and a 12-month high of $32.40. The company has a current ratio of 1.22, a quick ratio of 0.96 and a debt-to-equity ratio of 0.22.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Wednesday, January 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.21. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $880.59 million. Liberty Energy had a return on equity of 1.24% and a net margin of 3.69%.The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 EPS. On average, equities analysts forecast that Liberty Energy will post 0.58 EPS for the current year.

Liberty Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Wednesday, March 4th. Liberty Energy’s dividend payout ratio is 40.45%.

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, insider R Sean Elliott sold 25,000 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $25.40, for a total transaction of $635,000.00. Following the sale, the insider owned 343,150 shares in the company, valued at approximately $8,716,010. This represents a 6.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Stock sold 25,000 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $25.38, for a total value of $634,500.00. Following the sale, the chief financial officer owned 784,819 shares in the company, valued at approximately $19,918,706.22. This trade represents a 3.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Liberty Energy

A number of large investors have recently bought and sold shares of LBRT. Los Angeles Capital Management LLC acquired a new stake in Liberty Energy during the 4th quarter valued at $29,000. Kelleher Financial Advisors acquired a new stake in Liberty Energy during the 3rd quarter valued at $29,000. First Horizon Corp grew its holdings in Liberty Energy by 58.2% during the 4th quarter. First Horizon Corp now owns 1,620 shares of the company’s stock valued at $30,000 after buying an additional 596 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Liberty Energy during the 4th quarter valued at $32,000. Finally, Advisory Services Network LLC acquired a new stake in Liberty Energy during the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

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.