Liberty Energy (NYSE:LBRT) CFO Michael Stock Sells 19,998 Shares

Liberty Energy Inc. (NYSE:LBRT) CFO Michael Stock sold 19,998 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $33.48, for a total value of $669,533.04. Following the transaction, the chief financial officer owned 800,375 shares in the company, valued at approximately $26,796,555. This trade represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Liberty Energy Stock Performance

Shares of Liberty Energy stock traded down $0.40 during trading on Wednesday, reaching $32.72. The company’s stock had a trading volume of 1,967,450 shares, compared to its average volume of 4,388,092. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.97 and a current ratio of 2.21. The business’s fifty day moving average price is $30.26 and its 200-day moving average price is $24.18. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of 35.95 and a beta of 0.56. Liberty Energy Inc. has a one year low of $9.90 and a one year high of $34.48.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.19. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $954.71 million. Liberty Energy had a return on equity of 1.41% and a net margin of 3.71%.The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.04 earnings per share. As a group, equities research analysts predict that Liberty Energy Inc. will post -0.11 earnings per share for the current year.

Liberty Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be paid a $0.09 dividend. The ex-dividend date is Thursday, June 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.1%. Liberty Energy’s payout ratio is presently 39.56%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wall Street Zen upgraded Liberty Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Stifel Nicolaus lifted their price objective on Liberty Energy from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Piper Sandler lifted their price objective on Liberty Energy from $32.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Bank of America upgraded Liberty Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Tuesday, February 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Energy in a research note on Friday, May 1st. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.42.

Institutional Investors Weigh In On Liberty Energy

A number of institutional investors have recently added to or reduced their stakes in LBRT. Arrowstreet Capital Limited Partnership grew its position in Liberty Energy by 901.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,431,125 shares of the company’s stock worth $127,616,000 after buying an additional 3,988,535 shares in the last quarter. Franklin Resources Inc. grew its position in Liberty Energy by 78.5% during the third quarter. Franklin Resources Inc. now owns 8,575,840 shares of the company’s stock worth $105,826,000 after buying an additional 3,771,724 shares in the last quarter. Balyasny Asset Management L.P. grew its position in Liberty Energy by 1,529.2% during the third quarter. Balyasny Asset Management L.P. now owns 2,753,357 shares of the company’s stock worth $33,976,000 after buying an additional 2,584,359 shares in the last quarter. Millennium Management LLC grew its position in Liberty Energy by 184.7% during the fourth quarter. Millennium Management LLC now owns 3,287,466 shares of the company’s stock worth $60,687,000 after buying an additional 2,132,685 shares in the last quarter. Finally, Sourcerock Group LLC acquired a new stake in Liberty Energy during the second quarter worth about $23,653,000. 98.22% of the stock is owned by institutional investors and hedge funds.

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. 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.