Liberty Energy (NYSE:LBRT) Given New $27.00 Price Target at Royal Bank of Canada

Liberty Energy (NYSE:LBRT - Free Report) had its price target increased by Royal Bank of Canada from $25.00 to $27.00 in a report published on Friday, Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley upped their price objective on shares of Liberty Energy from $23.00 to $24.00 and gave the stock an equal weight rating in a research report on Monday, January 29th. Piper Sandler increased their price target on shares of Liberty Energy from $27.00 to $28.00 and gave the stock an overweight rating in a report on Friday, January 26th. Bank of America lifted their price objective on Liberty Energy from $20.00 to $23.00 and gave the company a neutral rating in a report on Monday. Barclays increased their target price on Liberty Energy from $25.00 to $27.00 and gave the stock an overweight rating in a research note on Friday. Finally, Wells Fargo & Company increased their price objective on Liberty Energy from $24.00 to $26.00 and gave the stock an overweight rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $24.30.

Liberty Energy Stock Performance

Shares of LBRT traded up $0.27 during midday trading on Friday, reaching $22.37. 3,772,777 shares of the stock were exchanged, compared to its average volume of 2,978,938. The business's 50-day moving average price is $21.15 and its 200 day moving average price is $19.65. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 8.15, a PEG ratio of 1.04 and a beta of 1.85. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.49 and a quick ratio of 1.17. Liberty Energy has a twelve month low of $11.62 and a twelve month high of $23.31.

Liberty Energy (NYSE:LBRT - Get Free Report) last issued its quarterly earnings data on Thursday, April 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.06). The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.08 billion. Liberty Energy had a return on equity of 26.90% and a net margin of 10.43%. The company's revenue for the quarter was down 12.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 earnings per share. On average, sell-side analysts expect that Liberty Energy will post 2.64 EPS for the current fiscal year.

Liberty Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, June 5th. Liberty Energy's payout ratio is 10.22%.

Insider Buying and Selling at Liberty Energy

In other news, CEO Christopher A. Wright sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $22.66, for a total value of $453,200.00. Following the completion of the transaction, the chief executive officer now owns 2,858,814 shares of the company's stock, valued at $64,780,725.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Christopher A. Wright sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $22.66, for a total transaction of $453,200.00. Following the completion of the transaction, the chief executive officer now owns 2,858,814 shares of the company's stock, valued at $64,780,725.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William F. Kimble sold 12,459 shares of Liberty Energy stock in a transaction on Friday, March 8th. The shares were sold at an average price of $21.55, for a total transaction of $268,491.45. Following the completion of the transaction, the director now owns 69,963 shares in the company, valued at approximately $1,507,702.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 98,459 shares of company stock worth $2,077,491. Corporate insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On Liberty Energy

Large investors have recently added to or reduced their stakes in the company. EdgeRock Capital LLC bought a new position in shares of Liberty Energy during the fourth quarter worth about $27,000. Principal Securities Inc. bought a new stake in shares of Liberty Energy in the 4th quarter worth approximately $39,000. Quadrant Capital Group LLC boosted its position in Liberty Energy by 70.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company's stock valued at $53,000 after purchasing an additional 1,206 shares during the period. Quarry LP grew its stake in Liberty Energy by 111.0% during the 2nd quarter. Quarry LP now owns 3,965 shares of the company's stock worth $53,000 after buying an additional 2,086 shares during the last quarter. Finally, KBC Group NV acquired a new stake in Liberty Energy in the fourth quarter worth $55,000. 98.22% of the stock is owned by institutional investors and hedge funds.

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.