Analysts Set Liberty Energy Inc. (NYSE:LBRT) Price Target at $24.78

04 Oct 2024, 23:26 by Jessica Moore · The Cerbat Gem

Liberty Energy Inc. (NYSE:LBRT – Get Free Report) has earned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $24.00.

LBRT has been the topic of a number of research analyst reports. TD Cowen decreased their price target on Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. Barclays decreased their price target on Liberty Energy from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Bank of America decreased their price target on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Citigroup decreased their price target on Liberty Energy from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Piper Sandler decreased their price target on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th.

View Our Latest Stock Analysis on LBRT

Insider Activity at Liberty Energy

In related news, CFO Michael Stock sold 4,374 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $21.01, for a total transaction of $91,897.74. Following the sale, the chief financial officer now directly owns 785,207 shares in the company, valued at approximately $16,497,199.07. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $19.91, for a total transaction of $398,200.00. Following the sale, the chief executive officer now directly owns 2,678,813 shares in the company, valued at approximately $53,335,166.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Stock sold 4,374 shares of Liberty Energy stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $21.01, for a total value of $91,897.74. Following the sale, the chief financial officer now owns 785,207 shares in the company, valued at $16,497,199.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,374 shares of company stock worth $1,642,148. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Liberty Energy

Several hedge funds and other institutional investors have recently bought and sold shares of LBRT. Norges Bank bought a new stake in shares of Liberty Energy in the 4th quarter valued at approximately $13,877,000. United Services Automobile Association bought a new stake in shares of Liberty Energy in the 4th quarter valued at approximately $201,000. TD Asset Management Inc increased its holdings in shares of Liberty Energy by 68.8% in the 4th quarter. TD Asset Management Inc now owns 271,788 shares of the company’s stock valued at $4,930,000 after acquiring an additional 110,800 shares during the last quarter. TFO Wealth Partners LLC increased its holdings in shares of Liberty Energy by 142,342.9% in the 4th quarter. TFO Wealth Partners LLC now owns 9,971 shares of the company’s stock valued at $181,000 after acquiring an additional 9,964 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Liberty Energy in the 4th quarter valued at approximately $63,000. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Liberty Energy Trading Up 3.5 %

Liberty Energy stock opened at $20.49 on Friday. The stock has a market cap of $3.41 billion, a PE ratio of 7.48, a P/E/G ratio of 1.24 and a beta of 1.68. The stock has a 50-day moving average price of $20.44 and a 200 day moving average price of $21.37. Liberty Energy has a 52 week low of $16.33 and a 52 week high of $24.75. The company has a current ratio of 1.35, a quick ratio of 1.07 and a debt-to-equity ratio of 0.17.

Liberty Energy (NYSE:LBRT – Get Free Report) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.87 EPS. Equities research analysts predict that Liberty Energy will post 2.18 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a dividend of $0.07 per share. The ex-dividend date was Friday, September 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.37%. Liberty Energy’s payout ratio is currently 10.22%.

About Liberty Energy

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