Key Points
- Liberty Energy CFO Michael Stock sold 9,999 shares on July 1 at an average price of $25.89, totaling about $258,874. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Stock still owned 773,711 shares valued at roughly $20.0 million, a 1.28% reduction in his holdings. He had also sold additional shares in early June and late May.
- Liberty Energy shares were trading around $24.30, down 7.2%, even as the company reported better-than-expected quarterly earnings and analysts kept a Moderate Buy consensus with an average target price of $32.18.
Liberty Energy Inc. (NYSE:LBRT - Get Free Report) CFO Michael Stock sold 9,999 shares of the firm's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $25.89, for a total transaction of $258,874.11. Following the sale, the chief financial officer directly owned 773,711 shares in the company, valued at $20,031,377.79. This represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Michael Stock also recently made the following trade(s):
- On Monday, June 1st, Michael Stock sold 13,332 shares of Liberty Energy stock. The shares were sold at an average price of $29.46, for a total transaction of $392,760.72.
- On Tuesday, June 2nd, Michael Stock sold 3,333 shares of Liberty Energy stock. The shares were sold at an average price of $31.00, for a total transaction of $103,323.00.
- On Wednesday, May 20th, Michael Stock sold 19,998 shares of Liberty Energy stock. The shares were sold at an average price of $33.48, for a total transaction of $669,533.04.
Liberty Energy Stock Down 7.2%
Shares of NYSE LBRT opened at $24.30 on Thursday. The firm has a market cap of $3.97 billion, a P/E ratio of 26.71, a price-to-earnings-growth ratio of 2.24 and a beta of 0.54. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.97 and a current ratio of 2.21. Liberty Energy Inc. has a 1 year low of $9.90 and a 1 year high of $34.48. The firm's 50 day moving average price is $30.23 and its 200 day moving average price is $26.58.
Liberty Energy (NYSE:LBRT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.19. Liberty Energy had a return on equity of 1.41% and a net margin of 3.71%.The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $954.71 million. During the same quarter in the prior year, the company posted $0.04 EPS. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Liberty Energy Inc. will post 0.25 earnings per share for the current year.
Liberty Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were issued a $0.09 dividend. The ex-dividend date was Thursday, June 4th. This represents a $0.36 annualized dividend and a yield of 1.5%. Liberty Energy's payout ratio is 39.56%.
Hedge Funds Weigh In On Liberty Energy
Several hedge funds and other institutional investors have recently modified their holdings of the company. Root Financial Partners LLC grew its holdings in shares of Liberty Energy by 79.6% during the 1st quarter. Root Financial Partners LLC now owns 914 shares of the company's stock worth $26,000 after purchasing an additional 405 shares during the period. Valued Wealth Advisors LLC acquired a new position in Liberty Energy during the first quarter valued at approximately $26,000. Summit Securities Group LLC acquired a new position in Liberty Energy during the first quarter valued at approximately $28,000. GHP Investment Advisors Inc. purchased a new stake in Liberty Energy during the first quarter worth approximately $39,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Liberty Energy during the fourth quarter worth approximately $29,000. 98.22% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on LBRT shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Liberty Energy in a report on Friday, May 1st. Stifel Nicolaus boosted their target price on shares of Liberty Energy from $28.00 to $37.00 and gave the company a "buy" rating in a report on Friday, April 24th. Morgan Stanley set a $36.00 price target on shares of Liberty Energy in a research report on Monday, April 27th. Piper Sandler increased their price target on shares of Liberty Energy from $32.00 to $38.00 and gave the stock an "overweight" rating in a research note on Monday, April 27th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $31.00 price target on shares of Liberty Energy in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $32.18.
Check Out Our Latest Analysis on LBRT
About Liberty Energy
(
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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