Brokerages Set Liberty Energy Inc. (NYSE:LBRT) Target Price at $24.64

Liberty Energy Inc. (NYSE:LBRT) has earned a consensus rating of “Hold” from the thirteen research firms that are presently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $24.6364.

LBRT has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Liberty Energy in a research note on Monday, December 29th. Morgan Stanley boosted their price target on shares of Liberty Energy from $23.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Stifel Nicolaus lifted their target price on shares of Liberty Energy from $23.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Wall Street Zen raised Liberty Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Citigroup raised Liberty Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $12.00 to $21.00 in a research note on Tuesday, October 21st.

Liberty Energy Stock Up 4.5%

Shares of NYSE:LBRT opened at $25.90 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.22 and a debt-to-equity ratio of 0.22. The firm has a market cap of $4.20 billion, a P/E ratio of 29.10 and a beta of 0.49. Liberty Energy has a 12 month low of $9.50 and a 12 month high of $27.21. The company’s 50-day moving average price is $20.75 and its two-hundred day moving average price is $16.22.

Liberty Energy (NYSE:LBRT) last announced 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 company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $880.59 million. Liberty Energy had a net margin of 3.69% and a return on equity of 1.24%. Liberty Energy’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 earnings per share. As a group, research analysts forecast that Liberty Energy will post 0.58 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Wednesday, March 4th. Liberty Energy’s dividend payout ratio (DPR) is currently 40.45%.

Insider Buying and Selling

In related news, insider R Sean Elliott sold 25,000 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $25.40, for a total value of $635,000.00. Following the completion of the sale, the insider owned 343,150 shares in the company, valued at $8,716,010. This represents a 6.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Stock sold 25,000 shares of Liberty Energy stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $25.38, for a total value of $634,500.00. Following the transaction, the chief financial officer owned 784,819 shares in the company, valued at approximately $19,918,706.22. This represents a 3.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Liberty Energy

Hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Liberty Energy by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,205 shares of the company’s stock valued at $1,491,000 after purchasing an additional 4,095 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Liberty Energy by 1,992.2% in the first quarter. NewEdge Advisors LLC now owns 12,030 shares of the company’s stock valued at $190,000 after buying an additional 11,455 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Liberty Energy by 0.6% during the first quarter. Goldman Sachs Group Inc. now owns 868,978 shares of the company’s stock worth $13,756,000 after acquiring an additional 4,955 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Liberty Energy by 22.0% during the first quarter. Intech Investment Management LLC now owns 81,446 shares of the company’s stock worth $1,289,000 after acquiring an additional 14,663 shares in the last quarter. Finally, KLP Kapitalforvaltning AS raised its holdings in shares of Liberty Energy by 8.2% during the second quarter. KLP Kapitalforvaltning AS now owns 61,800 shares of the company’s stock worth $709,000 after acquiring an additional 4,700 shares during the period. 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.