Shares of Liberty Energy Inc. (NYSE:LBRT – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $29.09.
A number of brokerages recently commented on LBRT. Barclays upgraded shares of Liberty Energy from an “equal weight” rating to an “overweight” rating and set a $27.00 target price for the company in a research note on Monday. UBS Group raised their price target on Liberty Energy from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, September 14th. Weiss Ratings downgraded Liberty Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 18th. Wall Street Zen cut Liberty Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Royal Bank Of Canada dropped their price objective on Liberty Energy from $34.00 to $29.00 and set a “sector perform” rating on the stock in a report on Friday, July 24th.
View Our Latest Stock Report on Liberty Energy
Liberty Energy Stock Up 0.0%
Liberty Energy (NYSE:LBRT – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Liberty Energy had a net margin of 2.92% and a return on equity of 1.14%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the firm posted $0.12 EPS. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, research analysts forecast that Liberty Energy will post 0.35 EPS for the current fiscal year.
Liberty Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, September 4th. Liberty Energy’s dividend payout ratio is 48.65%.
Insider Activity at Liberty Energy
In other news, CFO Michael Stock sold 9,999 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $25.89, for a total transaction of $258,874.11. Following the completion of the sale, the chief financial officer owned 773,711 shares in the company, valued at approximately $20,031,377.79. The trade was a 1.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Arjun N. Murti bought 14,053 shares of the stock in a transaction dated Tuesday, July 28th. The stock was bought at an average price of $17.79 per share, with a total value of $250,002.87. Following the acquisition, the director owned 41,621 shares in the company, valued at approximately $740,437.59. This represents a 50.98% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 19,998 shares of company stock worth $450,955 over the last quarter. 2.00% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Liberty Energy
Institutional investors and hedge funds have recently bought and sold shares of the stock. Situational Awareness LP acquired a new position in shares of Liberty Energy in the 4th quarter valued at $10,471,000. Eventide Asset Management LLC acquired a new stake in Liberty Energy during the 4th quarter worth $36,394,000. Legato Capital Management LLC acquired a new stake in Liberty Energy during the 4th quarter worth $842,000. Clearline Capital LP purchased a new position in Liberty Energy during the 4th quarter worth $8,205,000. Finally, Bank of New York Mellon Corp purchased a new position in Liberty Energy during the 2nd quarter worth $61,185,000. 98.22% of the stock is owned by hedge funds and other institutional investors.
About Liberty Energy
Liberty Energy Inc is an energy services company that provides specialized equipment, technology and services used in the development of onshore oil and natural gas resources. The company primarily supports exploration and production companies during the well-completion process, with an emphasis on hydraulic fracturing and related operations.
Its services and products include hydraulic fracturing, wireline services, proppant logistics, frac-related equipment, field engineering and operational support.
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