Liberty Energy (NYSE:LBRT) Hits New 52-Week High at $24.43

Liberty Energy Inc. (NYSE:LBRTGet Free Report) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $24.43 and last traded at $24.01, with a volume of 392060 shares trading hands. The stock had previously closed at $23.90.

Analyst Ratings Changes

LBRT has been the subject of several analyst reports. Citigroup upgraded shares of Liberty Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $24.00 to $32.00 in a research report on Wednesday. Barclays upped their price target on shares of Liberty Energy from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. TD Cowen upped their price target on shares of Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Bank of America upped their price target on shares of Liberty Energy from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. Finally, Royal Bank of Canada upped their price target on shares of Liberty Energy from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.50.

Check Out Our Latest Report on LBRT

Liberty Energy Stock Up 1.2 %

The stock’s 50 day simple moving average is $22.17 and its two-hundred day simple moving average is $20.34. The firm has a market cap of $4.03 billion, a P/E ratio of 8.72, a P/E/G ratio of 1.20 and a beta of 1.83. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.48 and a quick ratio of 1.16.

Liberty Energy (NYSE:LBRTGet Free Report) last announced its quarterly earnings results on Thursday, April 18th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.06). The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. Liberty Energy had a net margin of 10.43% and a return on equity of 26.46%. Liberty Energy’s revenue was down 12.8% on a year-over-year basis. During the same period last year, the business earned $0.90 EPS. As a group, research analysts forecast that Liberty Energy Inc. will post 2.52 earnings per share for the current year.

Liberty Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, June 6th. Liberty Energy’s dividend payout ratio (DPR) is currently 10.22%.

Insiders Place Their Bets

In other Liberty Energy news, CAO Ryan T. Gosney sold 4,000 shares of Liberty Energy stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $24.00, for a total value of $96,000.00. Following the completion of the sale, the chief accounting officer now owns 166,882 shares of the company’s stock, valued at approximately $4,005,168. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Ryan T. Gosney sold 2,000 shares of Liberty Energy stock in a transaction on Friday, May 17th. The shares were sold at an average price of $23.50, for a total transaction of $47,000.00. Following the transaction, the chief accounting officer now owns 170,882 shares in the company, valued at approximately $4,015,727. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Ryan T. Gosney sold 4,000 shares of Liberty Energy stock in a transaction on Monday, May 20th. The stock was sold at an average price of $24.00, for a total transaction of $96,000.00. Following the transaction, the chief accounting officer now owns 166,882 shares in the company, valued at approximately $4,005,168. The disclosure for this sale can be found here. In the last quarter, insiders sold 188,459 shares of company stock valued at $4,168,391. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. EdgeRock Capital LLC purchased a new position in shares of Liberty Energy during the 4th quarter valued at $27,000. Principal Securities Inc. purchased a new position in shares of Liberty Energy during the 4th quarter valued at $39,000. Quadrant Capital Group LLC lifted its stake in shares of 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 buying an additional 1,206 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Liberty Energy by 27.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after buying an additional 709 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of Liberty Energy during the 4th quarter valued at $63,000. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Liberty Energy Company Profile

(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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