Liberty Energy (NYSE:LBRT) Price Target Lowered to $16.00 at TD Cowen

Liberty Energy (NYSE:LBRT) had its target price decreased by TD Cowen from $18.00 to $16.00 in a research note issued to investors on Wednesday,Benzinga reports. TD Cowen currently has a hold rating on the stock.

LBRT has been the subject of several other reports. Atb Cap Markets raised shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Stifel Nicolaus reduced their price objective on Liberty Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Evercore ISI raised Liberty Energy to a “strong-buy” rating in a research report on Thursday, October 17th. Barclays decreased their price target on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company cut their price objective on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.20.

Liberty Energy Stock Performance

LBRT opened at $21.39 on Wednesday. Liberty Energy has a 1-year low of $16.57 and a 1-year high of $24.75. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 10.19 and a beta of 1.66. The business has a 50 day moving average price of $18.65 and a two-hundred day moving average price of $19.67. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.97.

Liberty Energy (NYSE:LBRT) last announced its 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 8.02% and a return on equity of 18.50%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the business earned $0.85 EPS. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. Research analysts predict that Liberty Energy will post 1.72 EPS for the current fiscal year.

Liberty Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.50%. This is a boost from Liberty Energy’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Friday, December 6th. Liberty Energy’s dividend payout ratio (DPR) is currently 15.24%.

Insiders Place Their Bets

In related news, CEO Christopher A. Wright sold 2,936 shares of Liberty Energy stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $19.16, for a total transaction of $56,253.76. Following the transaction, the chief executive officer now owns 2,543,877 shares of the company’s stock, valued at $48,740,683.32. This trade represents a 0.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Stock sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $18.45, for a total transaction of $92,250.00. Following the completion of the sale, the chief financial officer now directly owns 720,207 shares of the company’s stock, valued at $13,287,819.15. The trade was a 0.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,973 shares of company stock valued at $1,471,335. 3.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Liberty Energy

Several hedge funds have recently added to or reduced their stakes in LBRT. Covestor Ltd grew its position in shares of Liberty Energy by 96.8% in the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company’s stock valued at $33,000 after purchasing an additional 838 shares during the period. Quarry LP boosted its holdings in shares of Liberty Energy by 237.5% in the third quarter. Quarry LP now owns 1,991 shares of the company’s stock valued at $38,000 after buying an additional 1,401 shares during the period. GAMMA Investing LLC increased its position in shares of Liberty Energy by 82.1% during the third quarter. GAMMA Investing LLC now owns 3,174 shares of the company’s stock worth $61,000 after acquiring an additional 1,431 shares in the last quarter. US Bancorp DE raised its holdings in shares of Liberty Energy by 93.2% during the third quarter. US Bancorp DE now owns 4,180 shares of the company’s stock worth $80,000 after acquiring an additional 2,016 shares during the period. Finally, KBC Group NV lifted its position in Liberty Energy by 24.8% in the 3rd quarter. KBC Group NV now owns 4,906 shares of the company’s stock valued at $94,000 after acquiring an additional 974 shares in the last quarter. 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.