Liberty Energy Inc. Forecasted to Post Q3 2024 Earnings of $0.76 Per Share (NYSE:LBRT)

Liberty Energy Inc. (NYSE:LBRT) – Zacks Research increased their Q3 2024 earnings per share estimates for Liberty Energy in a research note issued to investors on Thursday, April 25th. Zacks Research analyst T. Saha now anticipates that the company will post earnings per share of $0.76 for the quarter, up from their prior forecast of $0.75. The consensus estimate for Liberty Energy’s current full-year earnings is $2.53 per share. Zacks Research also issued estimates for Liberty Energy’s Q1 2025 earnings at $0.51 EPS, Q3 2025 earnings at $0.95 EPS and Q1 2026 earnings at $0.60 EPS.

Liberty Energy (NYSE:LBRT) last announced its earnings results on Thursday, April 18th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.06). Liberty Energy had a net margin of 10.43% and a return on equity of 26.46%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business earned $0.90 earnings per share. Liberty Energy’s revenue was down 12.8% on a year-over-year basis.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company lifted their price objective on shares of Liberty Energy from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Royal Bank of Canada boosted their price target on shares of Liberty Energy from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Barclays upped their target price on Liberty Energy from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, April 19th. TD Cowen lifted their price target on shares of Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Finally, Piper Sandler lifted their price target on shares of Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Liberty Energy has an average rating of “Moderate Buy” and an average target price of $24.30.

Liberty Energy Price Performance

Shares of NYSE LBRT opened at $22.01 on Monday. The business has a 50-day simple moving average of $21.52 and a two-hundred day simple moving average of $19.95. The company has a market cap of $3.67 billion, a PE ratio of 8.03, a P/E/G ratio of 1.16 and a beta of 1.85. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.48. Liberty Energy has a fifty-two week low of $11.62 and a fifty-two week high of $23.31.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Diversified Trust Co boosted its holdings in Liberty Energy by 2.5% during the first quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock worth $427,000 after buying an additional 507 shares in the last quarter. Perigon Wealth Management LLC increased its stake in shares of Liberty Energy by 2.4% during the 1st quarter. Perigon Wealth Management LLC now owns 24,815 shares of the company’s stock valued at $514,000 after acquiring an additional 571 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Liberty Energy by 3.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 17,902 shares of the company’s stock worth $325,000 after purchasing an additional 621 shares during the period. Advisor Partners II LLC boosted its holdings in Liberty Energy by 3.8% in the third quarter. Advisor Partners II LLC now owns 18,974 shares of the company’s stock valued at $351,000 after acquiring an additional 689 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings 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 period. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Liberty Energy news, Director William F. Kimble sold 12,459 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $21.55, for a total value of $268,491.45. Following the transaction, the director now directly owns 69,963 shares in the company, valued at $1,507,702.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Liberty Energy news, Director William F. Kimble sold 12,459 shares of Liberty Energy stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $21.55, for a total transaction of $268,491.45. Following the transaction, the director now owns 69,963 shares of the company’s stock, valued at $1,507,702.65. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider R Sean Elliott sold 20,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $23.10, for a total transaction of $462,000.00. Following the completion of the sale, the insider now owns 259,108 shares of the company’s stock, valued at approximately $5,985,394.80. The disclosure for this sale can be found here. Insiders sold 142,459 shares of company stock worth $3,155,991 over the last 90 days. 3.70% of the stock is owned by insiders.

Liberty Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Wednesday, June 5th. Liberty Energy’s dividend payout ratio is currently 10.22%.

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.