Shares of Liberty Energy Inc. (NYSE:LBRT – Get Free Report) have received a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $30.00.
LBRT has been the subject of several analyst reports. The Goldman Sachs Group set a $23.00 target price on shares of Liberty Energy in a research report on Friday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Liberty Energy in a research note on Wednesday, July 29th. Royal Bank Of Canada cut their target price on Liberty Energy from $34.00 to $29.00 and set a “sector perform” rating for the company in a research note on Friday, July 24th. Wall Street Zen downgraded Liberty Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Barclays raised their target price on Liberty Energy from $29.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, May 8th.
Read Our Latest Report on LBRT
Liberty Energy Trading Up 0.3%
Liberty Energy (NYSE:LBRT – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Liberty Energy had a return on equity of 1.14% and a net margin of 2.92%.The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the company earned $0.12 EPS. The company’s revenue was up 14.0% on a year-over-year basis. On average, research analysts predict that Liberty Energy will post 0.33 earnings per share for the current fiscal year.
Liberty Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, September 4th. Liberty Energy’s payout ratio is currently 48.65%.
Insider Transactions at Liberty Energy
In other Liberty Energy news, Director Arjun N. Murti bought 14,053 shares of the stock in a transaction on Tuesday, July 28th. The stock was purchased at an average price of $17.79 per share, with a total value of $250,002.87. Following the completion of the purchase, the director owned 41,621 shares in the company, valued at $740,437.59. The trade was a 50.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael Stock sold 9,999 shares of the firm’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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 16,665 shares of company stock worth $422,024. Company insiders own 2.00% of the company’s stock.
Institutional Trading of Liberty Energy
A number of institutional investors and hedge funds have recently bought and sold shares of LBRT. Root Financial Partners LLC boosted its position in Liberty Energy by 79.6% during the first quarter. Root Financial Partners LLC now owns 914 shares of the company’s stock valued at $26,000 after acquiring an additional 405 shares during the last quarter. Valued Wealth Advisors LLC acquired a new stake in shares of Liberty Energy in the 1st quarter worth about $26,000. Summit Securities Group LLC purchased a new stake in shares of Liberty Energy in the first quarter worth approximately $28,000. Los Angeles Capital Management LLC purchased a new stake in Liberty Energy in the 4th quarter valued at $29,000. Finally, Kelleher Financial Advisors purchased a new stake in shares of Liberty Energy in the third quarter valued at about $29,000. 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. 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.
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