Liberty Energy (NYSE:LBRT) Sees Large Volume Increase - Time to Buy?

Key Points

• Liberty Energy's shares experienced a 44% increase in trading volume, with approximately 4.9 million shares changing hands, leading to a stock price rise from $12.96 to $13.67.
• Recent analyst ratings for Liberty Energy show a consensus rating of “Moderate Buy”, with an average price target of $15.65 following several adjustments by different firms.
• The company reported earnings per share (EPS) of $0.12, missing analysts' expectations, while revenue of $1.04 billion was above the forecast, though down 10.1% year-over-year.
• Liberty Energy declared a quarterly dividend of $0.08 per share, representing an annualized yield of 2.37%, with a payout ratio of 21.19%.

Shares of Liberty Energy Inc. (NYSE:LBRT - Get Free Report) saw an uptick in trading volume on Friday . 4,923,685 shares changed hands during trading, an increase of 44% from the previous session's volume of 3,419,418 shares.The stock last traded at $13.67 and had previously closed at $12.96.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LBRT. Wall Street Zen lowered shares of Liberty Energy from a "hold" rating to a "sell" rating in a research report on Saturday. Cowen reaffirmed a "hold" rating on shares of Liberty Energy in a research report on Monday, April 21st. JPMorgan Chase & Co. lowered their price target on Liberty Energy from $16.00 to $13.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Piper Sandler initiated coverage on Liberty Energy in a report on Tuesday, July 15th. They set a "neutral" rating and a $14.00 price target on the stock. Finally, Wells Fargo & Company increased their price target on Liberty Energy from $11.00 to $12.00 and gave the company an "equal weight" rating in a report on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $15.15.

Liberty Energy Stock Performance

The firm's 50 day moving average price is $12.22 and its 200-day moving average price is $14.29. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 9.88 and a beta of 0.66. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.16 and a quick ratio of 0.91.

Liberty Energy (NYSE:LBRT - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.02). The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Liberty Energy had a return on equity of 6.01% and a net margin of 5.29%. The company's revenue was down 10.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 EPS. On average, analysts anticipate that Liberty Energy Inc. will post 0.58 earnings per share for the current year.

Liberty Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be given a $0.08 dividend. The ex-dividend date is Thursday, September 4th. This represents a $0.32 annualized dividend and a yield of 2.49%. Liberty Energy's dividend payout ratio (DPR) is currently 24.62%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. CIBC Private Wealth Group LLC lifted its position in Liberty Energy by 257.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,197 shares of the company's stock worth $47,000 after purchasing an additional 1,583 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in Liberty Energy in the first quarter worth $50,000. GAMMA Investing LLC lifted its position in Liberty Energy by 281.1% in the second quarter. GAMMA Investing LLC now owns 4,329 shares of the company's stock worth $50,000 after purchasing an additional 3,193 shares during the period. PNC Financial Services Group Inc. lifted its position in Liberty Energy by 45.3% in the first quarter. PNC Financial Services Group Inc. now owns 4,465 shares of the company's stock worth $71,000 after purchasing an additional 1,392 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in shares of Liberty Energy during the fourth quarter valued at $120,000. 98.22% of the stock is owned by 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.