Liberty Energy (NYSE:LBRT) Sees Strong Trading Volume - Still a 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%.

Liberty Energy Inc. (NYSE:LBRT - Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 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.

Analysts Set New Price Targets

A number of research analysts have recently commented on LBRT shares. Piper Sandler started coverage on shares of Liberty Energy in a research note on Tuesday, July 15th. They set a "neutral" rating and a $14.00 price objective for the company. TD Cowen upped their price objective on shares of Liberty Energy from $10.00 to $13.00 and gave the company a "hold" rating in a research note on Monday, April 21st. Barclays dropped their price objective on shares of Liberty Energy from $17.00 to $16.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley dropped their price objective on shares of Liberty Energy from $25.00 to $20.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Finally, Wells Fargo & Company upped their price objective on shares of Liberty Energy from $11.00 to $12.00 and gave the company an "equal weight" rating in a research note on Thursday, June 5th. Eight equities research analysts have rated the stock with a hold rating, three have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $15.65.

Liberty Energy Stock Up 4.1%

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.20. The firm has a market cap of $2.19 billion, a PE ratio of 8.94 and a beta of 0.66. The stock has a fifty day moving average price of $12.18 and a 200-day moving average price of $14.50.

Liberty Energy (NYSE:LBRT - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.02). The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. Liberty Energy had a return on equity of 10.30% and a net margin of 6.03%. The firm's revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 EPS. Research analysts expect that Liberty Energy Inc. will post 0.58 EPS for the current year.

Liberty Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Thursday, September 4th. Liberty Energy's dividend payout ratio is presently 21.19%.

Hedge Funds Weigh In On Liberty Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its holdings in Liberty Energy by 1.7% in the 1st quarter. Principal Financial Group Inc. now owns 912,636 shares of the company's stock worth $14,447,000 after acquiring an additional 15,596 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Liberty Energy during the 1st quarter valued at approximately $761,000. Manning & Napier Advisors LLC purchased a new position in shares of Liberty Energy during the 1st quarter valued at approximately $1,110,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Liberty Energy by 6.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,054,615 shares of the company's stock valued at $32,566,000 after buying an additional 118,878 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Liberty Energy by 1,279.1% during the 1st quarter. GAMMA Investing LLC now owns 17,983 shares of the company's stock valued at $285,000 after buying an additional 16,679 shares during the last quarter. Hedge funds and other institutional investors own 98.22% of the company's stock.

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.

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