Key Points
- Liberty Energy CFO Michael Stock sold 3,333 shares at an average price of $16.74, generating $55,794.42. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, and he retains 750,380 shares.
- Liberty Energy shares were trading near their one-year low, opening at $14.74 after declining 12.7%. The company reported quarterly revenue of $1.20 billion and adjusted earnings in line with estimates at $0.06 per share.
- The company raised its quarterly dividend to $0.10 per share, equivalent to an annualized $0.40 dividend and a 2.7% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $26.42.
Liberty Energy Inc. (NYSE:LBRT - Get Free Report) CFO Michael Stock sold 3,333 shares of the firm's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $16.74, for a total transaction of $55,794.42. Following the transaction, the chief financial officer owned 750,380 shares in the company, valued at $12,561,361.20. This represents a 0.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 Tuesday, October 6th, Michael Stock sold 3,333 shares of Liberty Energy stock. The shares were sold at an average price of $20.00, for a total transaction of $66,660.00.
- On Thursday, October 1st, Michael Stock sold 3,333 shares of Liberty Energy stock. The stock was sold at an average price of $18.17, for a total transaction of $60,560.61.
- On Tuesday, September 1st, Michael Stock sold 6,666 shares of Liberty Energy stock. The stock was sold at an average price of $19.84, for a total transaction of $132,253.44.
Liberty Energy Trading Down 12.7%
Liberty Energy stock opened at $14.74 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.30 and a quick ratio of 1.09. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 67.73, a PEG ratio of 3.97 and a beta of 0.71. Liberty Energy Inc. has a one year low of $14.64 and a one year high of $34.48. The company's fifty day moving average price is $18.59 and its two-hundred day moving average price is $24.58.
Liberty Energy (NYSE:LBRT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $0.06 earnings per share for the quarter, hitting analysts' consensus estimates of $0.06. Liberty Energy had a return on equity of 2.13% and a net margin of 0.91%. The company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. The business's quarterly revenue was up 26.3% compared to the same quarter last year. On average, analysts forecast that Liberty Energy Inc. will post 0.22 earnings per share for the current fiscal year.
Liberty Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.7%. This is a positive change from Liberty Energy's previous quarterly dividend of $0.09. Liberty Energy's payout ratio is currently 150.00%.
Hedge Funds Weigh In On Liberty Energy
Large investors have recently made changes to their positions in the business. Readystate Asset Management LP acquired a new stake in Liberty Energy in the 2nd quarter valued at approximately $5,660,000. Engineers Gate Manager LP bought a new position in Liberty Energy in the 2nd quarter worth approximately $3,099,000. Bank of New York Mellon Corp bought a new position in Liberty Energy in the 2nd quarter worth approximately $61,185,000. Arlington Capital Management Inc. acquired a new position in shares of Liberty Energy during the second quarter worth approximately $3,821,000. Finally, Sei Investments Co. lifted its holdings in shares of Liberty Energy by 54.3% during the first quarter. Sei Investments Co. now owns 983,706 shares of the company's stock worth $28,331,000 after buying an additional 346,239 shares during the last quarter. Institutional investors and hedge funds own 98.22% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Morgan Stanley reduced their target price on Liberty Energy from $30.00 to $28.00 and set an "overweight" rating for the company in a report on Wednesday, October 14th. Weiss Ratings downgraded Liberty Energy from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, October 23rd. UBS Group dropped their price target on shares of Liberty Energy from $31.00 to $27.00 and set a "buy" rating on the stock in a research report on Friday, October 23rd. Scotiabank started coverage on shares of Liberty Energy in a research report on Tuesday, September 29th. They issued a "sector perform" rating and a $19.00 price target on the stock. Finally, TD Cowen reduced their price objective on shares of Liberty Energy from $24.00 to $22.00 and set a "hold" rating for the company in a research note on Friday, October 23rd. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Liberty Energy has a consensus rating of "Moderate Buy" and an average target price of $26.42.
Check Out Our Latest Analysis on LBRT
Liberty Energy Company Profile
(
Get Free Report)
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.
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