Liberty Energy (NYSE:LBRT) Shares Down 4.1% - Here's Why

Liberty Energy Inc. (NYSE:LBRT - Get Free Report) traded down 4.1% during trading on Wednesday . The stock traded as low as $12.04 and last traded at $12.05. 549,471 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 3,323,171 shares. The stock had previously closed at $12.57.

Analyst Ratings Changes

Several research firms have issued reports on LBRT. Barclays lowered their target price on shares of Liberty Energy from $17.00 to $16.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Stifel Nicolaus dropped their price objective on Liberty Energy from $23.00 to $22.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Cowen restated a "hold" rating on shares of Liberty Energy in a research note on Monday, April 21st. Royal Bank of Canada cut Liberty Energy from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from $24.00 to $19.00 in a report on Monday, March 24th. Finally, TD Cowen boosted their price objective on Liberty Energy from $10.00 to $13.00 and gave the stock a "hold" rating in a report on Monday, April 21st. Eight research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $17.23.

Liberty Energy Price Performance

The firm has a market capitalization of $2.00 billion, a P/E ratio of 6.59 and a beta of 0.71. The business's 50-day simple moving average is $11.91 and its 200 day simple moving average is $16.06. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 0.20.

Liberty Energy (NYSE:LBRT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The company had revenue of $977.46 million during the quarter, compared to analysts' expectations of $960.64 million. Liberty Energy had a net margin of 7.32% and a return on equity of 14.28%. During the same quarter in the prior year, the company earned $0.48 EPS. Sell-side analysts forecast that Liberty Energy Inc. will post 0.58 earnings per share for the current year.

Liberty Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.32 annualized dividend and a yield of 2.60%. Liberty Energy's payout ratio is currently 21.19%.

Institutional Investors Weigh In On Liberty Energy

Large investors have recently added to or reduced their stakes in the company. Strs Ohio purchased a new stake in shares of Liberty Energy during the first quarter worth about $943,000. Intech Investment Management LLC raised its position in Liberty Energy by 22.0% during the 1st quarter. Intech Investment Management LLC now owns 81,446 shares of the company's stock valued at $1,289,000 after purchasing an additional 14,663 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Liberty Energy by 0.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 868,978 shares of the company's stock worth $13,756,000 after buying an additional 4,955 shares during the period. NewEdge Advisors LLC grew its position in shares of Liberty Energy by 1,992.2% in the 1st quarter. NewEdge Advisors LLC now owns 12,030 shares of the company's stock worth $190,000 after buying an additional 11,455 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Liberty Energy by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,205 shares of the company's stock worth $1,491,000 after buying an additional 4,095 shares during the last quarter. Institutional investors own 98.22% of the company's stock.

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.