Liberty Energy Inc. (LBRT) to Issue Quarterly Dividend of $0.07 on June 20th

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

Liberty Energy has raised its dividend payment by an average of 63.9% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Liberty Energy has a payout ratio of 8.8% indicating that its dividend is sufficiently covered by earnings. 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 %

LBRT opened at $21.52 on Thursday. The business’s fifty day moving average is $21.09 and its two-hundred day moving average is $19.63. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.17 and a current ratio of 1.49. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 6.81, a PEG ratio of 1.05 and a beta of 1.85. Liberty Energy has a one year low of $11.62 and a one year high of $23.23.

Liberty Energy (NYSE:LBRT) last issued 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 during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the company earned $0.90 earnings per share. The firm’s revenue was down 12.8% compared to the same quarter last year. Analysts anticipate that Liberty Energy will post 2.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, CAO Ryan T. Gosney sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was 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 in the company, valued at approximately $2,884,473. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Liberty Energy news, insider R Sean Elliott sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total transaction 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 is available through the SEC website. Also, CAO Ryan T. Gosney sold 6,000 shares of the firm’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 $123,000.00. Following the sale, the chief accounting officer now owns 140,706 shares of the company’s stock, 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 worth $2,077,491 in the last 90 days. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Liberty Energy

A number of hedge funds have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky raised its stake in Liberty Energy by 24.5% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 49,800 shares of the company’s stock valued at $903,000 after acquiring an additional 9,800 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in Liberty Energy by 23.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 20,595 shares of the company’s stock valued at $374,000 after acquiring an additional 3,864 shares in the last quarter. Horizon Kinetics Asset Management LLC bought a new stake in Liberty Energy during the 4th quarter valued at $398,000. Barclays PLC raised its stake in Liberty Energy by 189.8% during the 4th quarter. Barclays PLC now owns 276,966 shares of the company’s stock valued at $5,024,000 after acquiring an additional 181,394 shares in the last quarter. Finally, West Tower Group LLC bought a new stake in shares of Liberty Energy in the 4th quarter worth $56,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

About Liberty Energy

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.