Michael Stock Sells 6,666 Shares of Liberty Energy (NYSE:LBRT) Stock

Liberty Energy Inc. (NYSE:LBRT) CFO Michael Stock sold 6,666 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $19.84, for a total value of $132,253.44. Following the completion of the transaction, the chief financial officer directly owned 760,379 shares in the company, valued at approximately $15,085,919.36. The trade was a 0.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Stock also recently made the following trade(s):

• On Monday, August 3rd, Michael Stock sold 3,333 shares of Liberty Energy stock. The stock was sold at an average price of $17.95, for a total value of $59,827.35.
• On Wednesday, July 1st, Michael Stock sold 9,999 shares of Liberty Energy stock. The stock was sold at an average price of $25.89, for a total value of $258,874.11.

Liberty Energy Stock Performance

NYSE:LBRT opened at $20.16 on Thursday. The firm’s fifty day moving average price is $21.64 and its 200 day moving average price is $26.71. Liberty Energy Inc. has a 1-year low of $9.90 and a 1-year high of $34.48. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.99 and a quick ratio of 1.75. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 2.93 and a beta of 0.61.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Liberty Energy had a net margin of 2.92% and a return on equity of 1.14%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm earned $0.12 EPS. Liberty Energy’s quarterly revenue was up 14.0% on a year-over-year basis. On average, sell-side analysts expect that Liberty Energy Inc. will post 0.33 EPS for the current year.

Liberty Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a $0.09 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.36 dividend on an annualized basis and a yield of 1.8%. Liberty Energy’s dividend payout ratio (DPR) is presently 48.65%.

Hedge Funds Weigh In On Liberty Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Root Financial Partners LLC grew its holdings in Liberty Energy by 79.6% in the first quarter. Root Financial Partners LLC now owns 914 shares of the company’s stock valued at $26,000 after purchasing an additional 405 shares during the last quarter. Valued Wealth Advisors LLC purchased a new stake in shares of Liberty Energy in the 1st quarter worth about $26,000. Summit Securities Group LLC purchased a new stake in shares of Liberty Energy in the 1st quarter worth about $28,000. Los Angeles Capital Management LLC acquired a new stake in Liberty Energy in the 4th quarter valued at about $29,000. Finally, Kelleher Financial Advisors acquired a new stake in Liberty Energy in the 3rd quarter valued at about $29,000. 98.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Stifel Nicolaus reduced their price target on Liberty Energy from $37.00 to $36.00 and set a “buy” rating for the company in a report on Friday, July 24th. Zacks Research cut Liberty Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Piper Sandler reduced their target price on Liberty Energy from $34.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, August 27th. UBS Group restated a “buy” rating on shares of Liberty Energy in a research report on Friday, June 26th. Finally, Wall Street Zen cut shares of Liberty Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Liberty Energy has an average rating of “Moderate Buy” and an average target price of $30.00.

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. 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.