Key Points
- CEO Ron Gusek bought 25,000 shares at an average price of $15.09, a $377,250 purchase that increased his ownership by 2.4% to 1,068,702 shares.
- Liberty Energy reported quarterly EPS of $0.06, in line with estimates, and revenue of $1.20 billion, up 26.3% year over year. It raised its quarterly dividend from $0.09 to $0.10 per share.
- Analysts have a consensus “Moderate Buy” rating and a $26.42 average price target, with eight Buy and six Hold ratings.
Liberty Energy Inc. (NYSE:LBRT - Get Free Report) CAO Ryan Gosney acquired 3,000 shares of the business's stock in a transaction dated Tuesday, November 3rd. The stock was purchased at an average price of $15.00 per share, with a total value of $45,000.00. Following the completion of the acquisition, the chief accounting officer directly owned 236,327 shares in the company, valued at approximately $3,544,905. This represents a 1.29% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Liberty Energy Price Performance
Shares of Liberty Energy stock opened at $11.29 on Friday. The firm has a market capitalization of $1.84 billion, a PE ratio of 47.06, a price-to-earnings-growth ratio of 3.06 and a beta of 0.72. The company has a current ratio of 1.30, a quick ratio of 1.09 and a debt-to-equity ratio of 0.75. Liberty Energy Inc. has a 12 month low of $11.24 and a 12 month high of $34.48. The business's 50-day moving average price is $18.27 and its 200-day moving average price is $24.47.
Liberty Energy (NYSE:LBRT - Get Free Report) last released its 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 the consensus estimate of $1.19 billion. During the same quarter in the previous year, the company posted ($0.06) EPS. Liberty Energy's quarterly revenue was up 26.3% compared to the same quarter last year. Sell-side analysts forecast that Liberty Energy Inc. will post 0.21 EPS for the current fiscal year.
Liberty Energy Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a $0.10 dividend. This is a boost from Liberty Energy's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Friday, December 4th. Liberty Energy's payout ratio is presently 150.00%.
Institutional Investors Weigh In On Liberty Energy
A number of large investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its position in shares of Liberty Energy by 901.2% in 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 during the period. Bank of New York Mellon Corp purchased a new stake in shares of Liberty Energy during the second quarter worth about $61,185,000. Dimensional Fund Advisors LP boosted its holdings in shares of Liberty Energy by 4.9% during 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 during the period. Sei Investments Co. grew its stake in shares of Liberty Energy by 54.3% in the first quarter. Sei Investments Co. now owns 983,706 shares of the company's stock worth $28,331,000 after purchasing an additional 346,239 shares during the last quarter. Finally, Castleark Management LLC bought a new stake in shares of Liberty Energy in the first quarter worth about $7,626,000. Institutional investors own 98.22% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the company. Citigroup boosted 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, October 26th. UBS Group reduced their price target on Liberty Energy from $31.00 to $27.00 and set a "buy" rating on the stock in a research report on Friday, October 23rd. TD Cowen decreased their price target on Liberty Energy from $24.00 to $22.00 and set a "hold" rating on the stock in a research note on Friday, October 23rd. Stifel Nicolaus lowered their price objective 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, Weiss Ratings downgraded Liberty Energy from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, October 23rd. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $26.42.
View Our Latest Stock Report on Liberty Energy
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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