Liberty Energy Inc. (NYSE:LBRT) Receives $16.80 Average PT from Analysts

Liberty Energy Inc. (NYSE:LBRT) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $17.3636.

LBRT has been the subject of a number of analyst reports. TD Cowen increased their price target on Liberty Energy from $10.00 to $15.00 and gave the company a “hold” rating in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Liberty Energy in a research report on Monday. Wall Street Zen downgraded shares of Liberty Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. The Goldman Sachs Group lifted their price target on shares of Liberty Energy from $11.00 to $18.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Finally, UBS Group initiated coverage on shares of Liberty Energy in a report on Tuesday. They issued a “buy” rating and a $23.00 price target on the stock.

Liberty Energy Stock Performance

Liberty Energy stock opened at $18.66 on Wednesday. Liberty Energy has a 12-month low of $9.50 and a 12-month high of $23.58. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.32 and a quick ratio of 1.05. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 16.66 and a beta of 0.72. The firm’s fifty day moving average price is $15.48 and its 200 day moving average price is $13.06.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings data on Thursday, October 16th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). The firm had revenue of $947.40 million during the quarter, compared to analysts’ expectations of $967.05 million. Liberty Energy had a net margin of 4.76% and a return on equity of 1.69%. The business’s quarterly revenue was down 16.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 earnings per share. On average, research analysts forecast that Liberty Energy will post 0.58 EPS for the current fiscal year.

Liberty Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be paid a $0.09 dividend. This is a boost from Liberty Energy’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, December 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.9%. Liberty Energy’s dividend payout ratio (DPR) is currently 32.14%.

Hedge Funds Weigh In On Liberty Energy

A number of hedge funds have recently bought and sold shares of the company. CIBC Private Wealth Group LLC raised its stake in Liberty Energy by 1,163.9% during the third quarter. CIBC Private Wealth Group LLC now owns 3,855 shares of the company’s stock valued at $48,000 after buying an additional 3,550 shares in the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of Liberty Energy in the 3rd quarter valued at approximately $208,000. Advisory Services Network LLC acquired a new stake in shares of Liberty Energy during the 3rd quarter valued at approximately $35,000. NewEdge Advisors LLC raised its position in shares of Liberty Energy by 12.8% during the 3rd quarter. NewEdge Advisors LLC now owns 18,901 shares of the company’s stock valued at $233,000 after acquiring an additional 2,147 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in Liberty Energy by 3.6% during the third quarter. CANADA LIFE ASSURANCE Co now owns 139,107 shares of the company’s stock worth $1,768,000 after purchasing an additional 4,814 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors and hedge funds.

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.