Liberty Energy (NYSE:LBRT) Stock Price Up 3.9% - Here's Why

Liberty Energy Inc. (NYSE:LBRT - Get Free Report)'s share price rose 3.9% during trading on Friday . The company traded as high as $13.60 and last traded at $13.58. Approximately 574,932 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 2,826,309 shares. The stock had previously closed at $13.07.

Analysts Set New Price Targets

A number of analysts recently issued reports on LBRT shares. Citigroup decreased their price objective on Liberty Energy from $16.00 to $13.50 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. TD Cowen upped their price target on Liberty Energy from $10.00 to $13.00 and gave the company a "hold" rating in a research report on Monday, April 21st. Wells Fargo & Company increased their price target on shares of Liberty Energy from $11.00 to $12.00 and gave the stock an "equal weight" rating in a report on Thursday, June 5th. Barclays reduced 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. Finally, Stifel Nicolaus lowered their target price on shares of Liberty Energy from $23.00 to $22.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Eight research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $17.23.

Liberty Energy Price Performance

The business's fifty day moving average price is $11.94 and its 200-day moving average price is $15.81. The company has a market capitalization of $2.17 billion, a P/E ratio of 7.16 and a beta of 0.68. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 0.20.

Liberty Energy (NYSE:LBRT - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. The business had revenue of $977.46 million for the quarter, compared to the consensus estimate of $960.64 million. During the same quarter last year, the business posted $0.48 earnings per share. As a group, sell-side analysts predict that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.39%. The ex-dividend date is Friday, June 6th. Liberty Energy's dividend payout ratio is currently 21.19%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in shares of Liberty Energy by 604.9% in the 4th 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 in the last quarter. CIBC Private Wealth Group LLC raised its position in Liberty Energy by 257.8% in the 4th 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 stake in Liberty Energy in the first quarter worth $50,000. Smartleaf Asset Management LLC boosted its position in Liberty Energy by 176.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,423 shares of the company's stock valued at $67,000 after buying an additional 2,184 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of Liberty Energy by 45.3% during the first quarter. PNC Financial Services Group Inc. now owns 4,465 shares of the company's stock valued at $71,000 after buying an additional 1,392 shares during the last quarter. 98.22% of the stock is currently 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.