Citigroup upgraded shares of Liberty Energy (NYSE:LBRT – Free Report) from a neutral rating to a buy rating in a research report released on Wednesday morning, MarketBeat Ratings reports. They currently have $32.00 target price on the stock, up from their prior target price of $24.00.
LBRT has been the subject of several other reports. TD Cowen boosted their price objective on shares of Liberty Energy from $19.00 to $21.00 and gave the company a hold rating in a research note on Friday, April 19th. Wells Fargo & Company boosted their price objective on shares of Liberty Energy from $24.00 to $26.00 and gave the company an overweight rating in a research note on Friday, April 19th. Barclays boosted their price objective on shares of Liberty Energy from $25.00 to $27.00 and gave the company an overweight rating in a research note on Friday, April 19th. Royal Bank of Canada boosted their price objective on shares of Liberty Energy from $25.00 to $27.00 and gave the company an outperform rating in a research note on Friday, April 19th. Finally, Bank of America boosted their price objective on shares of Liberty Energy from $20.00 to $23.00 and gave the company a neutral rating in a research note on Monday, April 15th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $25.50.
Read Our Latest Stock Report on Liberty Energy
Liberty Energy Stock Down 1.7 %
LBRT stock opened at $23.50 on Wednesday. The stock has a market capitalization of $3.92 billion, a P/E ratio of 8.58, a PEG ratio of 1.20 and a beta of 1.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.48. Liberty Energy has a one year low of $11.62 and a one year high of $24.43. The company has a 50 day moving average price of $22.23 and a two-hundred day moving average price of $20.37.
Liberty Energy (NYSE:LBRT – Get Free Report) last released its earnings results on Thursday, April 18th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.06). The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The firm’s revenue was down 12.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 earnings per share. As a group, sell-side analysts expect that Liberty Energy will post 2.52 EPS for the current year.
Liberty Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be issued a $0.07 dividend. The ex-dividend date is Thursday, June 6th. This represents a $0.28 dividend on an annualized basis and a yield of 1.19%. Liberty Energy’s dividend payout ratio is currently 10.22%.
Insiders Place Their Bets
In other Liberty Energy news, CAO Ryan T. Gosney sold 2,000 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $23.50, for a total value of $47,000.00. Following the transaction, the chief accounting officer now owns 170,882 shares in the company, valued at approximately $4,015,727. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Liberty Energy news, CAO Ryan T. Gosney sold 4,000 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $24.00, for a total value of $96,000.00. Following the transaction, the chief accounting officer now owns 166,882 shares in the company, valued at approximately $4,005,168. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ryan T. Gosney sold 2,000 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $23.50, for a total transaction of $47,000.00. Following the completion of the transaction, the chief accounting officer now owns 170,882 shares in the company, valued at approximately $4,015,727. The disclosure for this sale can be found here. Insiders have sold 188,459 shares of company stock worth $4,168,391 in the last quarter. 3.70% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Liberty Energy
Institutional investors have recently modified their holdings of the stock. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Liberty Energy in the 4th quarter valued at about $800,000. International Assets Investment Management LLC raised its stake in shares of Liberty Energy by 1,777.4% in the 4th quarter. International Assets Investment Management LLC now owns 233,280 shares of the company’s stock valued at $4,232,000 after purchasing an additional 220,854 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Liberty Energy by 12.4% in the 3rd quarter. American Century Companies Inc. now owns 2,241,076 shares of the company’s stock valued at $41,505,000 after purchasing an additional 247,074 shares in the last quarter. LSV Asset Management raised its stake in shares of Liberty Energy by 522.2% in the 4th quarter. LSV Asset Management now owns 897,180 shares of the company’s stock valued at $16,275,000 after purchasing an additional 752,980 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC acquired a new stake in shares of Liberty Energy in the 4th quarter valued at about $3,532,000. 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.
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Source: defenseworld.net
