Key Points
- Liberty Energy CFO Michael Stock sold 19,998 shares on May 20 at an average price of $33.48, for a total of about $669,533. After the sale, he still held 800,375 shares, and the trade was made under a pre-arranged Rule 10b5-1 plan.
- The company recently reported better-than-expected quarterly results, posting EPS of $0.06 versus an expected loss of $0.13 and revenue of $1.02 billion, which topped estimates. Revenue also rose 4.5% year over year.
- Liberty Energy also declared a quarterly dividend of $0.09 per share, payable June 18, giving the stock an annualized yield of about 1.1%. Analysts currently rate the stock a Moderate Buy overall, with a consensus price target of $30.42.
Liberty Energy Inc. (NYSE:LBRT - Get Free Report) CFO Michael Stock sold 19,998 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $33.48, for a total transaction of $669,533.04. Following the completion of the sale, the chief financial officer owned 800,375 shares of the company's stock, valued at approximately $26,796,555. The trade was a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Liberty Energy Price Performance
LBRT opened at $32.72 on Thursday. The company has a quick ratio of 1.97, a current ratio of 2.21 and a debt-to-equity ratio of 0.75. Liberty Energy Inc. has a 52-week low of $9.90 and a 52-week high of $34.48. The company has a 50 day moving average of $30.36 and a two-hundred day moving average of $24.27. The company has a market cap of $5.34 billion, a P/E ratio of 35.95, a P/E/G ratio of 9.90 and a beta of 0.56.
Liberty Energy (NYSE:LBRT - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.19. Liberty Energy had a net margin of 3.71% and a return on equity of 1.41%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $954.71 million. During the same period in the previous year, the firm earned $0.04 earnings per share. Liberty Energy's revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts expect that Liberty Energy Inc. will post 0.07 earnings per share for the current year.
Liberty Energy Dividend Announcement
The company also recently announced 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 annualized dividend and a dividend yield of 1.1%. Liberty Energy's dividend payout ratio is 39.56%.
Analyst Ratings Changes
LBRT has been the subject of several analyst reports. Wall Street Zen upgraded shares of Liberty Energy from a "sell" rating to a "hold" rating in a research note on Saturday, February 7th. Bank of America raised shares of Liberty Energy from a "neutral" rating to a "buy" rating and set a $31.00 price target on the stock in a report on Tuesday, February 17th. UBS Group increased their target price on shares of Liberty Energy from $34.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Stifel Nicolaus increased their price objective on shares of Liberty Energy from $28.00 to $37.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Finally, Piper Sandler increased their price objective on shares of Liberty Energy from $32.00 to $38.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, Liberty Energy currently has an average rating of "Moderate Buy" and a consensus price target of $30.42.
Check Out Our Latest Analysis on LBRT
Hedge Funds Weigh In On Liberty Energy
Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Liberty Energy by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 18,096,443 shares of the company's stock valued at $334,060,000 after buying an additional 97,998 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Liberty Energy by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 9,233,668 shares of the company's stock worth $265,931,000 after purchasing an additional 431,269 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Liberty Energy by 78.5% in the third quarter. Franklin Resources Inc. now owns 8,575,840 shares of the company's stock worth $105,826,000 after purchasing an additional 3,771,724 shares in the last quarter. American Century Companies Inc. raised its position in Liberty Energy by 28.2% during the third quarter. American Century Companies Inc. now owns 7,809,390 shares of the company's stock valued at $96,368,000 after acquiring an additional 1,716,007 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised 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 valued at $127,616,000 after acquiring an additional 3,988,535 shares in the last quarter. Institutional investors own 98.22% of the company's stock.
Liberty Energy Company Profile
(
Get Free Report)
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.
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