Liberty Energy (NYSE:LBRT) Sets New 52-Week High on Analyst Upgrade

Liberty Energy Inc. (NYSE:LBRT) shares reached a new 52-week high during trading on Wednesday after Bank of America upgraded the stock from a neutral rating to a buy rating. Bank of America now has a $31.00 price target on the stock. Liberty Energy traded as high as $27.70 and last traded at $27.5910, with a volume of 491986 shares. The stock had previously closed at $26.68.

Other research analysts also recently issued research reports about the company. Wall Street Zen raised Liberty Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Liberty Energy in a report on Monday, December 29th. UBS Group reaffirmed a “buy” rating and issued a $34.00 price target on shares of Liberty Energy in a report on Friday, January 30th. TD Cowen increased 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, January 30th. Finally, Morgan Stanley raised their price objective on shares of Liberty Energy from $23.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.08.

Insider Transactions at Liberty Energy

In other news, insider R Sean Elliott sold 25,000 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $25.40, for a total transaction of $635,000.00. Following the sale, the insider owned 343,150 shares in the company, valued at $8,716,010. This trade represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Arjun N. Murti acquired 9,696 shares of the stock in a transaction dated Tuesday, February 17th. The stock was acquired at an average cost of $25.79 per share, with a total value of $250,059.84. Following the transaction, the director owned 27,568 shares of the company’s stock, valued at approximately $710,978.72. This trade represents a 54.25% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Maryland State Retirement & Pension System increased its holdings in shares of Liberty Energy by 2.0% during the fourth quarter. Maryland State Retirement & Pension System now owns 23,760 shares of the company’s stock valued at $439,000 after purchasing an additional 477 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Liberty Energy by 2.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 22,583 shares of the company’s stock worth $417,000 after purchasing an additional 500 shares during the period. First Horizon Corp grew its position in Liberty Energy by 58.2% in the 4th quarter. First Horizon Corp now owns 1,620 shares of the company’s stock valued at $30,000 after buying an additional 596 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in Liberty Energy by 1.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 37,085 shares of the company’s stock valued at $685,000 after buying an additional 600 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Liberty Energy by 39.9% during the 4th quarter. Quadrant Capital Group LLC now owns 2,140 shares of the company’s stock valued at $40,000 after buying an additional 610 shares during the period. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Liberty Energy Price Performance

The business’s 50-day simple moving average is $21.29 and its 200 day simple moving average is $16.57. The company has a market capitalization of $4.36 billion, a P/E ratio of 30.20 and a beta of 0.49. The company has a current ratio of 1.22, a quick ratio of 0.96 and a debt-to-equity ratio of 0.22.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.21. Liberty Energy had a net margin of 3.69% and a return on equity of 1.24%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $880.59 million. During the same quarter last year, the business earned $0.10 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Liberty Energy Inc. will post 0.58 EPS for the current year.

Liberty Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, March 4th. Liberty Energy’s payout ratio is currently 40.45%.

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. As of as of December 31, 2023, the company owned and operated a fleet of approximately 40 active hydraulic fracturing; and two sand mines in the Permian Basin.