Insider Selling: Liberty Energy Inc. (NYSE:LBRT) Insider Sells $462,000.00 in Stock

Liberty Energy Inc. (NYSE:LBRT) insider R Sean Elliott sold 20,000 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $23.10, for a total transaction of $462,000.00. Following the completion of the sale, the insider now directly owns 259,108 shares of the company’s stock, valued at approximately $5,985,394.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Liberty Energy Price Performance

Shares of NYSE LBRT opened at $21.33 on Friday. Liberty Energy Inc. has a twelve month low of $11.62 and a twelve month high of $23.31. The company has a current ratio of 1.48, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 7.78, a PEG ratio of 1.11 and a beta of 1.83. The firm has a 50-day moving average of $21.53 and a two-hundred day moving average of $19.97.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Thursday, April 18th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). Liberty Energy had a net margin of 10.43% and a return on equity of 26.46%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the company posted $0.90 earnings per share. Liberty Energy’s revenue was down 12.8% compared to the same quarter last year. As a group, analysts expect that Liberty Energy Inc. will post 2.52 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Wednesday, June 5th. Liberty Energy’s dividend payout ratio is presently 10.22%.

Institutional Trading of Liberty Energy

A number of hedge funds have recently bought and sold shares of the company. Diversified Trust Co lifted its stake in Liberty Energy by 2.5% during the first quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock valued at $427,000 after buying an additional 507 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in Liberty Energy by 2.4% during the first quarter. Perigon Wealth Management LLC now owns 24,815 shares of the company’s stock valued at $514,000 after buying an additional 571 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Liberty Energy by 3.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 17,902 shares of the company’s stock valued at $325,000 after buying an additional 621 shares in the last quarter. Advisor Partners II LLC lifted its stake in Liberty Energy by 3.8% during the third quarter. Advisor Partners II LLC now owns 18,974 shares of the company’s stock valued at $351,000 after buying an additional 689 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Liberty Energy by 27.7% during the fourth 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. 98.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LBRT. Royal Bank of Canada upped their price objective on shares of Liberty Energy from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. Bank of America upped their price objective on shares of Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Piper Sandler upped their price objective 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. TD Cowen upped their price objective on shares of Liberty Energy from $19.00 to $21.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Finally, Wells Fargo & Company upped their price objective on shares of Liberty Energy from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $24.30.

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.