Liberty Energy (NYSE:LBRT) CEO Purchases $377,250.00 in Stock

Liberty Energy Inc. (NYSE:LBRT) CEO Ron Gusek acquired 25,000 shares of Liberty Energy stock in a transaction on Tuesday, November 3rd. The shares were purchased at an average cost of $15.09 per share, for a total transaction of $377,250.00. Following the acquisition, the chief executive officer owned 1,068,702 shares in the company, valued at approximately $16,126,713.18. This represents a 2.40% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Liberty Energy Stock Up 5.0%

Shares of LBRT opened at $11.91 on Friday. The business’s fifty day moving average price is $18.12 and its two-hundred day moving average price is $24.43. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 49.64, a PEG ratio of 2.78 and a beta of 0.72. Liberty Energy Inc. has a 52 week low of $11.24 and a 52 week high of $34.48. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.09 and a current ratio of 1.30.

Liberty Energy (NYSE:LBRT) last released its earnings results on Wednesday, October 21st. The company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. Liberty Energy had a return on equity of 2.13% and a net margin of 0.91%. The firm’s quarterly revenue was up 26.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) earnings per share. On average, analysts predict that Liberty Energy Inc. will post 0.21 earnings per share for the current year.

Liberty Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $0.40 annualized dividend and a yield of 3.4%. This is an increase from Liberty Energy’s previous quarterly dividend of $0.09. Liberty Energy’s dividend payout ratio (DPR) is presently 150.00%.

Hedge Funds Weigh In On Liberty Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LBRT. Russell Investments Group Ltd. grew its position in shares of Liberty Energy by 97.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,199,901 shares of the company’s stock worth $21,862,000 after buying an additional 592,324 shares during the period. Fifth Third Bancorp raised its position in shares of Liberty Energy by 5.0% in the 3rd quarter. Fifth Third Bancorp now owns 362,206 shares of the company’s stock valued at $6,599,000 after acquiring an additional 17,187 shares during the period. Maryland State Retirement & Pension System raised its position in shares of Liberty Energy by 51.8% in the 3rd quarter. Maryland State Retirement & Pension System now owns 36,169 shares of the company’s stock valued at $659,000 after acquiring an additional 12,338 shares during the period. Fulcrum Asset Management LLP raised its position in shares of Liberty Energy by 97.0% in the 3rd quarter. Fulcrum Asset Management LLP now owns 198,075 shares of the company’s stock valued at $3,653,000 after acquiring an additional 97,541 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Liberty Energy by 3.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 27,580 shares of the company’s stock worth $509,000 after acquiring an additional 931 shares during the last quarter. Institutional investors own 98.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LBRT shares. TD Cowen reduced their target price on shares of Liberty Energy from $24.00 to $22.00 and set a “hold” rating on the stock in a research note on Friday, October 23rd. Piper Sandler dropped their price target on shares of Liberty Energy from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, October 23rd. Scotiabank assumed coverage on shares of Liberty Energy in a report on Tuesday, September 29th. They issued a “sector perform” rating and a $19.00 price objective on the stock. Weiss Ratings cut shares of Liberty Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 23rd. Finally, Zacks Research lowered shares of Liberty Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. Eight equities 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, the company currently has an average rating of “Moderate Buy” and an average price target of $26.42.

Liberty Energy Company Profile

Liberty Energy Inc is an oilfield services company that provides completion and production services to exploration and production companies. Its primary business is hydraulic fracturing, a well-stimulation technique used to improve the flow of oil and natural gas from unconventional reservoirs.

The company also offers wireline services, well diagnostics, frac data analysis, engineering support, and related technologies designed to help customers plan, execute, and evaluate well-completion operations.