Liberty Energy (NYSE:LBRT) Stock Price Up 8.3% - What's Next?

Key Points

• Liberty Energy's stock price increased by 8.3% on Tuesday, reaching a high of $12.66, but the trading volume fell 55% compared to the average.
• Several analysts have slashed their price targets for Liberty Energy, with Barclays and JPMorgan reducing theirs to $14.00 and $13.00, respectively, resulting in a consensus rating of "Moderate Buy."
• The company reported quarterly earnings of $0.12 per share, missing estimates, with revenue of $1.04 billion, down 10.1% year-over-year.

Liberty Energy Inc. (NYSE:LBRT - Get Free Report)'s stock price was up 8.3% on Tuesday . The company traded as high as $12.66 and last traded at $12.62. Approximately 1,584,497 shares were traded during trading, a decline of 55% from the average daily volume of 3,485,254 shares. The stock had previously closed at $11.66.

Analyst Upgrades and Downgrades

LBRT has been the subject of several research analyst reports. Barclays reduced their price target on shares of Liberty Energy from $16.00 to $14.00 and set an "overweight" rating for the company in a research report on Tuesday, July 29th. JPMorgan Chase & Co. cut their price objective on Liberty Energy from $16.00 to $13.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Piper Sandler cut their price target on shares of Liberty Energy from $14.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, August 14th. Wells Fargo & Company boosted their price objective 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. Finally, Stifel Nicolaus decreased their price objective on shares of Liberty Energy from $20.00 to $19.00 and set a "buy" rating for the company in a report on Monday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $15.05.

Liberty Energy Price Performance

The company has a market capitalization of $1.97 billion, a P/E ratio of 9.37 and a beta of 0.63. The company's 50-day moving average price is $11.32 and its two-hundred day moving average price is $12.15. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.16 and a quick ratio of 0.91.

Liberty Energy (NYSE:LBRT - Get Free Report) last released 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 business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Liberty Energy had a net margin of 5.29% and a return on equity of 6.01%. The company's revenue was down 10.1% on a year-over-year basis. During the same quarter last year, the company posted $0.64 earnings per share. As a group, sell-side analysts expect that Liberty Energy Inc. will post 0.58 EPS for the current year.

Liberty Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.6%. Liberty Energy's dividend payout ratio is 24.62%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LBRT. Vanguard Group Inc. grew its position in shares of Liberty Energy by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 18,443,909 shares of the company's stock worth $291,967,000 after buying an additional 1,128,491 shares during the period. American Century Companies Inc. lifted its stake in Liberty Energy by 10.6% during the 2nd quarter. American Century Companies Inc. now owns 6,093,383 shares of the company's stock valued at $69,952,000 after acquiring an additional 584,774 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Liberty Energy by 21.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,967,041 shares of the company's stock valued at $34,062,000 after acquiring an additional 529,023 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Liberty Energy by 3.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,507,658 shares of the company's stock valued at $39,696,000 after acquiring an additional 73,792 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Liberty Energy by 13.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,438,018 shares of the company's stock valued at $38,593,000 after acquiring an additional 290,320 shares in 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.

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