Liberty Energy Inc. (NYSE:LBRT) CEO Sells $432,800.00 in Stock

Liberty Energy Inc. (NYSE:LBRT) CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $21.64, for a total transaction of $432,800.00. Following the transaction, the chief executive officer now owns 2,818,814 shares in the company, valued at $60,999,134.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Liberty Energy Trading Up 1.5 %

LBRT opened at $21.64 on Monday. Liberty Energy Inc. has a twelve month low of $11.62 and a twelve month high of $23.31. The company has a 50-day simple moving average of $21.55 and a 200 day simple moving average of $19.99. The company has a quick ratio of 1.16, a current ratio of 1.48 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 7.90, a P/E/G ratio of 1.10 and a beta of 1.83.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings data 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). Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the company earned $0.90 EPS. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. Analysts predict that Liberty Energy Inc. will post 2.52 EPS for the current fiscal year.

Liberty Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.29%. Liberty Energy’s dividend payout ratio (DPR) is currently 10.22%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in LBRT. CWM LLC lifted its holdings in shares of Liberty Energy by 59.7% in the third quarter. CWM LLC now owns 3,166 shares of the company’s stock worth $59,000 after acquiring an additional 1,183 shares during the last quarter. Maryland State Retirement & Pension System bought a new position in shares of Liberty Energy in the third quarter worth about $1,058,000. Dakota Wealth Management bought a new position in shares of Liberty Energy in the third quarter worth about $223,000. Raymond James & Associates lifted its holdings in shares of Liberty Energy by 3.1% in the third quarter. Raymond James & Associates now owns 65,178 shares of the company’s stock worth $1,207,000 after acquiring an additional 1,943 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Liberty Energy by 53.1% in the third quarter. Bank of New York Mellon Corp now owns 2,244,480 shares of the company’s stock worth $41,568,000 after acquiring an additional 778,111 shares during the last quarter. Institutional investors own 98.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on LBRT shares. Morgan Stanley reiterated an “equal weight” rating and issued a $24.00 price objective on shares of Liberty Energy in a report on Monday, April 22nd. Royal Bank of Canada upped their price objective on shares of Liberty Energy from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Piper Sandler upped their price objective on shares of Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Bank of America boosted their target price 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, Barclays boosted their target price 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. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Liberty Energy has a consensus rating of “Moderate Buy” and an average price target of $24.30.

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.