Liberty Energy Inc. Plans Quarterly Dividend of $0.08 (NYSE:LBRT)

Liberty Energy Inc. (NYSE:LBRT) announced a quarterly dividend on Tuesday, April 15th, RTT News reports. Investors of record on Friday, June 6th will be paid a dividend of 0.08 per share on Friday, June 20th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, June 6th.

Liberty Energy has a payout ratio of 35.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Liberty Energy to earn $1.24 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 25.8%.

Liberty Energy Price Performance

LBRT stock opened at $11.45 on Thursday. The company has a market capitalization of $1.85 billion, a P/E ratio of 6.12 and a beta of 1.18. The business has a 50 day simple moving average of $15.04 and a 200-day simple moving average of $17.73. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 0.20. Liberty Energy has a twelve month low of $9.50 and a twelve month high of $24.75.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings data on Wednesday, April 16th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. The company had revenue of $977.46 million during the quarter, compared to analysts’ expectations of $960.64 million. During the same period last year, the firm earned $0.48 EPS. As a group, equities analysts anticipate that Liberty Energy will post 0.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on LBRT shares. TD Cowen dropped their price target on shares of Liberty Energy from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Stifel Nicolaus cut their target price on Liberty Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday. Barclays decreased their price target on Liberty Energy from $21.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Morgan Stanley raised Liberty Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $20.00 to $25.00 in a report on Thursday, March 27th. Finally, Royal Bank of Canada downgraded shares of Liberty Energy from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $24.00 to $19.00 in a report on Monday, March 24th. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, Liberty Energy has an average rating of “Moderate Buy” and an average price target of $19.40.

Insider Transactions at Liberty Energy

In other Liberty Energy news, CFO Michael Stock sold 10,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $17.94, for a total value of $179,400.00. Following the completion of the transaction, the chief financial officer now directly owns 717,292 shares in the company, valued at approximately $12,868,218.48. The trade was a 1.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.90% of the company’s stock.

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.