Liberty Energy (NYSE:LBRT) PT Lowered to $23.00

19 Oct 2024, 09:44 by Jessica Moore · The Cerbat Gem

Liberty Energy (NYSE:LBRT – Free Report) had its target price decreased by Royal Bank of Canada from $26.00 to $23.00 in a report published on Friday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other equities analysts have also recently commented on LBRT. TD Cowen cut their price target on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Friday, July 19th. Barclays cut their target price on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday. Citigroup downgraded Liberty Energy from a “buy” rating to a “neutral” rating and lowered their price target for the company from $25.00 to $19.00 in a research report on Friday. Stifel Nicolaus cut their price objective on Liberty Energy from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, October 11th. Finally, Piper Sandler decreased their price objective on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.70.

Check Out Our Latest Analysis on Liberty Energy

Liberty Energy Trading Down 3.3 %

Shares of LBRT stock opened at $17.70 on Friday. The company has a market capitalization of $2.95 billion, a PE ratio of 6.46, a price-to-earnings-growth ratio of 1.20 and a beta of 1.68. Liberty Energy has a 52-week low of $16.69 and a 52-week high of $24.75. The business’s fifty day moving average is $20.03 and its 200 day moving average is $21.32. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35.

Liberty Energy (NYSE:LBRT – Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.10). Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the business earned $0.85 EPS. The business’s revenue was down 6.4% on a year-over-year basis. On average, equities research analysts anticipate that Liberty Energy will post 2.14 EPS for the current fiscal year.

Liberty Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.08 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.32 annualized dividend and a yield of 1.81%. This is an increase from Liberty Energy’s previous quarterly dividend of $0.07. Liberty Energy’s payout ratio is presently 11.68%.

Insider Activity

In related news, CFO Michael Stock sold 20,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $22.92, for a total transaction of $458,400.00. Following the completion of the sale, the chief financial officer now directly owns 765,207 shares in the company, valued at $17,538,544.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders sold 95,000 shares of company stock valued at $1,945,650. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LBRT. Diversified Trust Co lifted its holdings in Liberty Energy by 2.5% in the 1st quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock worth $427,000 after buying an additional 507 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in Liberty Energy by 4.0% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 14,262 shares of the company’s stock worth $296,000 after acquiring an additional 543 shares during the period. Perigon Wealth Management LLC boosted its holdings in Liberty Energy by 2.4% in the first quarter. Perigon Wealth Management LLC now owns 24,815 shares of the company’s stock valued at $514,000 after acquiring an additional 571 shares in the last quarter. Andina Capital Management LLC increased its position in Liberty Energy by 3.9% during the 2nd quarter. Andina Capital Management LLC now owns 18,599 shares of the company’s stock valued at $389,000 after purchasing an additional 691 shares during the period. Finally, Creative Planning raised its holdings in Liberty Energy by 3.7% in the 3rd quarter. Creative Planning now owns 19,456 shares of the company’s stock worth $371,000 after purchasing an additional 703 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

About Liberty Energy

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