Insider Selling: Liberty Energy (NYSE:LBRT) CFO Sells 3,333 Shares of Company Stock

Liberty Energy Inc. (NYSE:LBRT) CFO Michael Stock sold 3,333 shares of the company’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $20.00, for a total value of $66,660.00. Following the transaction, the chief financial officer directly owned 753,713 shares in the company, valued at approximately $15,074,260. This represents a 0.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Stock also recently made the following trade(s):

• On Thursday, October 1st, Michael Stock sold 3,333 shares of Liberty Energy stock. The stock was sold at an average price of $18.17, for a total value of $60,560.61.
• On Tuesday, September 1st, Michael Stock sold 6,666 shares of Liberty Energy stock. The shares were sold at an average price of $19.84, for a total transaction of $132,253.44.
• On Monday, August 3rd, Michael Stock sold 3,333 shares of Liberty Energy stock. The shares were sold at an average price of $17.95, for a total value of $59,827.35.

Liberty Energy Stock Down 3.4%

Shares of NYSE LBRT traded down $0.69 during trading hours on Wednesday, hitting $19.43. 2,938,385 shares of the stock were exchanged, compared to its average volume of 4,260,490. Liberty Energy Inc. has a 12 month low of $11.52 and a 12 month high of $34.48. The firm has a fifty day moving average price of $19.68 and a 200-day moving average price of $25.25. The company has a quick ratio of 1.75, a current ratio of 1.99 and a debt-to-equity ratio of 0.74. The company has a market cap of $3.17 billion, a PE ratio of 26.25, a PEG ratio of 3.29 and a beta of 0.71.

Liberty Energy (NYSE:LBRT) last released its earnings results on Wednesday, July 22nd. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Liberty Energy had a net margin of 2.92% and a return on equity of 1.14%. Liberty Energy’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period last year, the business earned $0.12 EPS. On average, sell-side analysts expect that Liberty Energy Inc. will post 0.3 EPS for the current year.

Liberty Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.36 dividend on an annualized basis and a yield of 1.9%. Liberty Energy’s dividend payout ratio (DPR) is currently 48.65%.

Hedge Funds Weigh In On Liberty Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in Liberty Energy by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,233,668 shares of the company’s stock valued at $265,931,000 after purchasing an additional 431,269 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Liberty Energy by 901.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,431,125 shares of the company’s stock valued at $127,616,000 after purchasing an additional 3,988,535 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Liberty Energy during the second quarter worth approximately $61,185,000. Eventide Asset Management LLC acquired a new stake in shares of Liberty Energy during the fourth quarter worth $36,394,000. Finally, Sei Investments Co. boosted its stake in Liberty Energy by 54.3% in the 1st quarter. Sei Investments Co. now owns 983,706 shares of the company’s stock worth $28,331,000 after buying an additional 346,239 shares during the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LBRT. Scotiabank assumed coverage on shares of Liberty Energy in a research note on Tuesday, September 29th. They set a “sector perform” rating and a $19.00 target price on the stock. Wall Street Zen downgraded shares of Liberty Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Weiss Ratings cut Liberty Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 18th. Citigroup dropped their price objective on shares of Liberty Energy from $28.50 to $27.50 and set a “buy” rating for the company in a report on Wednesday, September 30th. Finally, Morgan Stanley set a $32.00 target price on Liberty Energy in a research note on Friday, July 24th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $27.54.

About Liberty Energy

Liberty Energy Inc is an oilfield services company that provides hydraulic fracturing and related completion services to exploration and production companies. Its operations support the development of unconventional oil and natural gas wells, primarily in North America.

The company’s services and technologies include pressure pumping, well stimulation, wireline services, proppant and logistics solutions, and digital tools designed to improve completion performance and operational efficiency.