Liberty Energy Inc. Announces Quarterly Dividend of $0.07 (NYSE:LBRT)

Liberty Energy Inc. (NYSE:LBRT) announced a quarterly dividend on Tuesday, April 16th, Zacks reports. Stockholders of record on Thursday, June 6th will be paid a dividend of 0.07 per share on Thursday, June 20th. This represents a $0.28 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Thursday, June 6th.

Liberty Energy has raised its dividend payment by an average of 63.9% per year over the last three years and has increased its dividend every year for the last 1 years. Liberty Energy has a dividend payout ratio of 8.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Liberty Energy to earn $3.05 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 9.2%.

Liberty Energy Stock Down 0.3 %

Shares of NYSE LBRT opened at $21.52 on Thursday. Liberty Energy has a 52-week low of $11.62 and a 52-week high of $23.23. The firm has a fifty day moving average of $21.09 and a 200-day moving average of $19.63. The stock has a market capitalization of $3.59 billion, a PE ratio of 6.81, a P/E/G ratio of 1.05 and a beta of 1.85. The company has a quick ratio of 1.17, a current ratio of 1.49 and a debt-to-equity ratio of 0.15.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Wednesday, April 17th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.06). Liberty Energy had a net margin of 11.72% and a return on equity of 32.28%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the firm earned $0.90 earnings per share. The firm’s quarterly revenue was down 12.8% on a year-over-year basis. On average, analysts anticipate that Liberty Energy will post 2.64 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Piper Sandler lifted their target price on shares of Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Wells Fargo & Company reduced their target price on shares of Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, December 21st. Morgan Stanley lifted their target price on shares of Liberty Energy from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Finally, Bank of America boosted their price objective on shares of Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Liberty Energy currently has an average rating of “Moderate Buy” and an average target price of $23.67.

Insider Activity at Liberty Energy

In related news, CAO Ryan T. Gosney sold 6,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total transaction of $123,000.00. Following the completion of the sale, the chief accounting officer now owns 140,706 shares of the company’s stock, valued at approximately $2,884,473. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider R Sean Elliott sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total value of $410,000.00. Following the completion of the sale, the insider now owns 218,530 shares in the company, valued at approximately $4,479,865. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Ryan T. Gosney sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total transaction of $123,000.00. Following the completion of the transaction, the chief accounting officer now owns 140,706 shares in the company, valued at approximately $2,884,473. The disclosure for this sale can be found here. Insiders sold a total of 98,459 shares of company stock valued at $2,077,491 in the last quarter. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LBRT. Quarry LP increased its stake in Liberty Energy by 111.0% in the 2nd quarter. Quarry LP now owns 3,965 shares of the company’s stock valued at $53,000 after buying an additional 2,086 shares during the period. KBC Group NV acquired a new position in shares of Liberty Energy during the 4th quarter worth $55,000. West Tower Group LLC acquired a new position in shares of Liberty Energy during the 4th quarter worth $56,000. PNC Financial Services Group Inc. increased its stake in shares of Liberty Energy by 27.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock worth $59,000 after purchasing an additional 709 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of Liberty Energy by 71.4% during the 4th quarter. US Bancorp DE now owns 3,896 shares of the company’s stock worth $71,000 after purchasing an additional 1,623 shares during the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

Liberty Energy Company Profile

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.