Liberty Energy (NYSE:LBRT) Announces Earnings Results, Beats Estimates By $0.21 EPS

Liberty Energy (NYSE:LBRT) released its quarterly earnings data on Wednesday. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.21, Zacks reports. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $880.59 million. Liberty Energy had a return on equity of 1.25% and a net margin of 3.69%.Liberty Energy’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 earnings per share.

Liberty Energy Trading Down 4.7%

Liberty Energy stock traded down $1.19 during trading on Friday, hitting $24.15. The company’s stock had a trading volume of 1,430,552 shares, compared to its average volume of 3,827,945. The stock’s fifty day moving average is $19.26 and its 200 day moving average is $15.18. Liberty Energy has a 1-year low of $9.50 and a 1-year high of $27.21. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 27.17 and a beta of 0.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.32.

Liberty Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be given a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.5%. Liberty Energy’s payout ratio is currently 32.14%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Kelleher Financial Advisors purchased a new position in Liberty Energy during the third quarter worth approximately $29,000. Advisory Services Network LLC purchased a new stake in Liberty Energy during the third quarter valued at about $35,000. Smartleaf Asset Management LLC raised its holdings in shares of Liberty Energy by 213.7% in the 2nd quarter. Smartleaf Asset Management LLC now owns 3,607 shares of the company’s stock worth $42,000 after purchasing an additional 2,457 shares during the period. CIBC Private Wealth Group LLC lifted its stake in shares of Liberty Energy by 1,163.9% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,855 shares of the company’s stock valued at $48,000 after purchasing an additional 3,550 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Liberty Energy by 460.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,832 shares of the company’s stock worth $67,000 after purchasing an additional 4,791 shares during the period. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LBRT has been the topic of a number of research analyst reports. Zacks Research upgraded Liberty Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, December 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Liberty Energy in a research report on Monday, December 29th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Liberty Energy in a research note on Thursday, January 15th. Stifel Nicolaus upped their price target on shares of Liberty Energy from $19.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Finally, Wall Street Zen lowered shares of Liberty Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $21.73.

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. As of as of December 31, 2023, the company owned and operated a fleet of approximately 40 active hydraulic fracturing; and two sand mines in the Permian Basin.