Liberty Energy (NYSE:LBRT) Price Target Cut to $22.00 by Analysts at Wells Fargo & Company

Liberty Energy (NYSE:LBRT) had its target price lowered by Wells Fargo & Company from $24.00 to $22.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts have also recently issued reports on LBRT. Citigroup upped their target price on shares of Liberty Energy from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Atb Cap Markets upgraded shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. TD Cowen cut their target price on Liberty Energy from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada decreased their target price on Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Finally, The Goldman Sachs Group began coverage on Liberty Energy in a research report on Friday, December 13th. They set a “neutral” rating and a $19.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.30.

Liberty Energy Stock Down 4.6 %

Shares of NYSE LBRT opened at $18.30 on Friday. The business has a 50-day moving average of $19.83 and a two-hundred day moving average of $19.77. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 9.79 and a beta of 1.66. Liberty Energy has a 1 year low of $16.57 and a 1 year high of $24.75. 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 posted its earnings results on Wednesday, January 29th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.06). Liberty Energy had a return on equity of 14.37% and a net margin of 7.32%. On average, analysts forecast that Liberty Energy will post 0.9 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Thursday, March 6th. Liberty Energy’s payout ratio is currently 17.11%.

Insider Transactions at Liberty Energy

In other Liberty Energy news, CEO Christopher A. Wright sold 12,000 shares of Liberty Energy stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.44, for a total value of $209,280.00. Following the sale, the chief executive officer now owns 2,606,813 shares of the company’s stock, valued at approximately $45,462,818.72. The trade was a 0.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Stock sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $18.45, for a total value of $92,250.00. Following the transaction, the chief financial officer now directly owns 720,207 shares of the company’s stock, valued at approximately $13,287,819.15. This trade represents a 0.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,973 shares of company stock worth $1,500,285 over the last 90 days. 3.60% of the stock is currently owned by insiders.

Institutional Trading of Liberty Energy

A number of institutional investors have recently modified their holdings of the business. Covestor Ltd lifted its holdings in Liberty Energy by 96.8% in the third quarter. Covestor Ltd now owns 1,704 shares of the company’s stock valued at $33,000 after acquiring an additional 838 shares during the period. Quarry LP lifted its stake 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 purchasing an additional 1,401 shares during the period. Blue Trust Inc. lifted its stake in shares of Liberty Energy by 604.9% in the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the company’s stock valued at $47,000 after purchasing an additional 2,111 shares during the period. Spire Wealth Management purchased a new stake in Liberty Energy during the fourth quarter worth about $60,000. Finally, GAMMA Investing LLC grew its position in 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 buying an additional 1,431 shares during the period. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Liberty Energy Company Profile

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.