Liberty Energy Inc. (NYSE:LBRT - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $11.25, but opened at $12.24. Liberty Energy shares last traded at $12.59, with a volume of 664,735 shares trading hands.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on LBRT. Stifel Nicolaus cut their price objective on shares of Liberty Energy from $23.00 to $22.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. TD Cowen boosted their price objective on Liberty Energy from $10.00 to $13.00 and gave the company a "hold" rating in a report on Monday, April 21st. Piper Sandler initiated coverage on shares of Liberty Energy in a report on Tuesday, July 15th. They set a "neutral" rating and a $14.00 price objective for the company. Morgan Stanley dropped their target price on shares of Liberty Energy from $25.00 to $20.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, Wells Fargo & Company lifted their price target on shares of Liberty Energy from $11.00 to $12.00 and gave the company an "equal weight" rating in a report on Thursday, June 5th. Eight investment analysts have rated the stock with a hold rating, three have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Liberty Energy presently has a consensus rating of "Moderate Buy" and an average price target of $15.65.
Read Our Latest Research Report on Liberty Energy
Liberty Energy Stock Performance
The firm has a market cap of $2.16 billion, a PE ratio of 8.91 and a beta of 0.66. The company has a quick ratio of 0.91, a current ratio of 1.20 and a debt-to-equity ratio of 0.21. The business has a 50 day simple moving average of $12.18 and a two-hundred day simple moving average of $14.50.
Liberty Energy (NYSE:LBRT - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $0.12 EPS for the quarter, missing the consensus estimate 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 net margin of 6.03% and a return on equity of 10.30%. The business's quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 EPS. As a group, equities research analysts forecast that Liberty Energy Inc. will post 0.58 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, September 18th. Shareholders of record on Thursday, September 4th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $0.32 annualized dividend and a yield of 2.40%. Liberty Energy's dividend payout ratio (DPR) is presently 21.19%.
Institutional Investors Weigh In On Liberty Energy
A number of large investors have recently modified their holdings of the business. CIBC Private Wealth Group LLC increased its position in shares of Liberty Energy by 257.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,197 shares of the company's stock valued at $47,000 after buying an additional 1,583 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Liberty Energy during the 1st quarter worth about $50,000. GAMMA Investing LLC increased its holdings in Liberty Energy by 281.1% during the 2nd 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. increased its holdings in shares of Liberty Energy by 45.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,465 shares of the company's stock valued at $71,000 after acquiring an additional 1,392 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Liberty Energy in the 4th quarter valued at about $120,000. Hedge funds and other institutional investors own 98.22% of the company's stock.
Liberty Energy Company Profile
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Get Free Report)
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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