Key Points
- Liberty Energy CFO Michael Stock sold 6,666 shares at an average price of $19.84, generating $132,253.44. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his ownership by 0.87% to 760,379 shares.
- Liberty Energy’s latest quarterly results exceeded expectations, with EPS of $0.09 versus the $0.08 consensus and revenue of $1.19 billion, up 14% year over year.
- The company announced a quarterly dividend of $0.09 per share, equivalent to a $0.36 annualized payout and 1.8% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $30.
Liberty Energy Inc. (NYSE:LBRT - Get Free Report) CFO Michael Stock sold 6,666 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $19.84, for a total transaction of $132,253.44. Following the sale, the chief financial officer directly owned 760,379 shares in the company, valued at approximately $15,085,919.36. The trade was a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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, August 3rd, Michael Stock sold 3,333 shares of Liberty Energy stock. The shares were sold at an average price of $17.95, for a total value of $59,827.35.
- On Wednesday, July 1st, Michael Stock sold 9,999 shares of Liberty Energy stock. The shares were sold at an average price of $25.89, for a total transaction of $258,874.11.
Liberty Energy Stock Up 1.7%
LBRT stock opened at $20.05 on Wednesday. The stock has a market capitalization of $3.27 billion, a P/E ratio of 27.09, a P/E/G ratio of 2.88 and a beta of 0.60. The firm has a 50-day simple moving average of $21.76 and a 200-day simple moving average of $26.75. Liberty Energy Inc. has a 52 week low of $9.90 and a 52 week high of $34.48. The company has a quick ratio of 1.75, a current ratio of 1.99 and a debt-to-equity ratio of 0.74.
Liberty Energy (NYSE:LBRT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.01. Liberty Energy had a return on equity of 1.14% and a net margin of 2.92%.The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the company posted $0.12 earnings per share. The business's revenue was up 14.0% on a year-over-year basis. Equities analysts forecast that Liberty Energy Inc. will post 0.33 earnings per share for the current fiscal year.
Liberty Energy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, September 4th. Liberty Energy's payout ratio is currently 48.65%.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on the company. Piper Sandler cut their target price on Liberty Energy from $34.00 to $30.00 and set an "overweight" rating for the company in a research note on Thursday, August 27th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Liberty Energy in a research report on Wednesday, July 29th. Morgan Stanley set a $32.00 target price on Liberty Energy in a research report on Friday, July 24th. Stifel Nicolaus reduced their price objective on Liberty Energy from $37.00 to $36.00 and set a "buy" rating on the stock in a research note on Friday, July 24th. Finally, UBS Group reiterated a "buy" rating on shares of Liberty Energy in a report on Friday, June 26th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Liberty Energy has an average rating of "Moderate Buy" and an average target price of $30.00.
View Our Latest Stock Analysis on LBRT
Institutional Investors Weigh In On Liberty Energy
Several large investors have recently modified their holdings of LBRT. Vanguard Group Inc. raised its position in Liberty Energy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 18,096,443 shares of the company's stock worth $334,060,000 after buying an additional 97,998 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Liberty Energy by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,233,668 shares of the company's stock valued at $265,931,000 after acquiring an additional 431,269 shares during the last quarter. Franklin Resources Inc. grew 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 valued at $105,826,000 after purchasing an additional 3,771,724 shares during the last quarter. California State Teachers Retirement System increased its position in Liberty Energy by 2,521.1% during the second quarter. California State Teachers Retirement System now owns 4,916,989 shares of the company's stock worth $128,776,000 after buying an additional 4,729,397 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Liberty Energy by 901.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,431,125 shares of the company's stock worth $127,616,000 after purchasing an additional 3,988,535 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company's stock.
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.
Further Reading
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