Liberty Energy’s (LBRT) Equal Weight Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company restated their equal weight rating on shares of Liberty Energy (NYSE:LBRT) in a research note issued to investors on Tuesday morning, MarketBeat.com reports. They currently have a $11.00 price objective on the stock, down from their prior price objective of $20.00.

Several other research firms have also recently weighed in on LBRT. Stifel Nicolaus increased their price target on shares of Liberty Energy from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Seaport Res Ptn raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Sunday, January 5th. Morgan Stanley raised Liberty Energy from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $20.00 to $25.00 in a research note on Thursday, March 27th. Royal Bank of Canada downgraded Liberty Energy from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $24.00 to $19.00 in a research report on Monday, March 24th. Finally, Citigroup upped their target price on shares of Liberty Energy from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.60.

Liberty Energy Stock Performance

NYSE LBRT opened at $10.69 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.97 and a current ratio of 1.27. The stock’s fifty day moving average is $15.44 and its two-hundred day moving average is $17.90. The firm has a market capitalization of $1.73 billion, a P/E ratio of 5.71 and a beta of 1.18. Liberty Energy has a fifty-two week low of $9.50 and a fifty-two week high of $24.75.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.06). Liberty Energy had a net margin of 7.32% and a return on equity of 14.28%. On average, research analysts anticipate that Liberty Energy will post 0.58 earnings per share for the current year.

Liberty Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.99%. The ex-dividend date was Thursday, March 6th. Liberty Energy’s payout ratio is 17.11%.

Insider Buying and Selling

In other Liberty Energy news, CFO Michael Stock sold 5,000 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.00, for a total value of $115,000.00. Following the sale, the chief financial officer now owns 675,207 shares of the company’s stock, valued at $15,529,761. This trade represents a 0.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is owned by insiders.

Institutional Trading of Liberty Energy

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Liberty Energy by 1,279.1% during the 1st quarter. GAMMA Investing LLC now owns 17,983 shares of the company’s stock worth $285,000 after acquiring an additional 16,679 shares in the last quarter. Palogic Value Management L.P. purchased a new stake in shares of Liberty Energy during the 4th quarter worth $1,492,000. Alpha Wealth Funds LLC acquired a new position in shares of Liberty Energy during the fourth quarter worth $728,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Liberty Energy in the fourth quarter valued at $3,365,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Liberty Energy by 5.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 338,798 shares of the company’s stock valued at $6,739,000 after buying an additional 17,440 shares in the last quarter. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

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.