Liberty Energy (NYSE:LBRT) Director Ken Babcock Purchases 14,500 Shares of Stock

Liberty Energy Inc. (NYSE:LBRT) Director Ken Babcock acquired 14,500 shares of the firm’s stock in a transaction on Monday, October 26th. The shares were bought at an average price of $15.40 per share, for a total transaction of $223,300.00. Following the completion of the transaction, the director owned 83,258 shares of the company’s stock, valued at approximately $1,282,173.20. This trade represents a 21.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Liberty Energy Trading Up 3.7%

Shares of NYSE:LBRT traded up $0.62 during trading on Wednesday, hitting $17.57. The company had a trading volume of 4,422,521 shares, compared to its average volume of 4,296,409. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 73.19, a price-to-earnings-growth ratio of 2.82 and a beta of 0.71. Liberty Energy Inc. has a one year low of $14.76 and a one year high of $34.48. The company has a fifty day simple moving average of $18.86 and a two-hundred day simple moving average of $24.64. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.30 and a quick ratio of 1.09.

Liberty Energy (NYSE:LBRT) last released its earnings results on Wednesday, October 21st. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $1.20 billion for 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 company’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) EPS. As a group, equities analysts forecast that Liberty Energy Inc. will post 0.22 earnings per share for the current year.

Liberty Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be given a $0.10 dividend. This is a boost from Liberty Energy’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, December 4th. Liberty Energy’s dividend payout ratio is 150.00%.

Institutional Trading of Liberty Energy

A number of large investors have recently modified their holdings of LBRT. Root Financial Partners LLC grew its stake in Liberty Energy by 79.6% in the first quarter. Root Financial Partners LLC now owns 914 shares of the company’s stock worth $26,000 after purchasing an additional 405 shares in the last quarter. Valued Wealth Advisors LLC bought a new stake in Liberty Energy during the 1st quarter valued at $26,000. Summit Securities Group LLC bought a new stake in Liberty Energy during the 1st quarter valued at $28,000. Reyes Financial Architecture Inc. bought a new stake in Liberty Energy during the 3rd quarter valued at $27,000. Finally, Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of Liberty Energy by 36.8% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 2,862 shares of the company’s stock worth $52,000 after buying an additional 770 shares during the period. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LBRT shares. TD Cowen cut their price objective on shares of Liberty Energy from $24.00 to $22.00 and set a “hold” rating on the stock in a research report on Friday, October 23rd. The Goldman Sachs Group set a $23.00 target price on shares of Liberty Energy in a report on Friday, August 7th. UBS Group dropped their price target on shares of Liberty Energy from $31.00 to $27.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. Stifel Nicolaus dropped their target price on Liberty Energy from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, July 24th. Finally, Citigroup upped their target price on Liberty Energy from $27.50 to $28.00 and gave the company a “buy” rating in a research note on Monday. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Liberty Energy has a consensus rating of “Moderate Buy” and a consensus target price of $26.42.

About Liberty Energy

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.