Liberty Energy (NYSE:LBRT) CFO Michael Stock Sells 19,998 Shares

Liberty Energy Inc. (NYSE:LBRT) CFO Michael Stock sold 19,998 shares of Liberty Energy stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $33.48, for a total value of $669,533.04. Following the sale, the chief financial officer directly owned 800,375 shares in the company, valued at $26,796,555. The trade was a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Liberty Energy Price Performance

NYSE LBRT traded down $0.40 during trading on Wednesday, reaching $32.72. 1,967,450 shares of the company traded hands, compared to its average volume of 4,388,092. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.97 and a current ratio of 2.21. The stock’s 50 day moving average price is $30.26 and its two-hundred day moving average price is $24.18. The company has a market cap of $5.34 billion, a price-to-earnings ratio of 35.95 and a beta of 0.56. Liberty Energy Inc. has a 1-year low of $9.90 and a 1-year high of $34.48.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.19. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $954.71 million. Liberty Energy had a return on equity of 1.41% and a net margin of 3.71%.The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.04 earnings per share. As a group, analysts anticipate that Liberty Energy Inc. will post -0.11 EPS for the current year.

Liberty Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, June 4th. Liberty Energy’s payout ratio is presently 39.56%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LBRT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Liberty Energy by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,205 shares of the company’s stock worth $1,491,000 after purchasing an additional 4,095 shares during the last quarter. NewEdge Advisors LLC raised its position in Liberty Energy by 1,992.2% in the 1st quarter. NewEdge Advisors LLC now owns 12,030 shares of the company’s stock worth $190,000 after purchasing an additional 11,455 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Liberty Energy by 0.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 868,978 shares of the company’s stock worth $13,756,000 after purchasing an additional 4,955 shares during the last quarter. Intech Investment Management LLC raised its position in Liberty Energy by 22.0% in the 1st quarter. Intech Investment Management LLC now owns 81,446 shares of the company’s stock worth $1,289,000 after purchasing an additional 14,663 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Liberty Energy in the 2nd quarter worth approximately $119,000. 98.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Stifel Nicolaus lifted their price objective on Liberty Energy from $28.00 to $37.00 and gave the company a “buy” rating in a report on Friday, April 24th. TD Cowen boosted their target price on Liberty Energy from $19.00 to $21.00 and gave the stock a “hold” rating in a report on Friday, January 30th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $32.00 target price on shares of Liberty Energy in a report on Friday, April 24th. Bank of America raised Liberty Energy from a “neutral” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Tuesday, February 17th. Finally, The Goldman Sachs Group boosted their target price on Liberty Energy from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, March 4th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Liberty Energy currently has an average rating of “Moderate Buy” and an average target price of $30.42.

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.