Insider Selling: Liberty Energy (NYSE:LBRT) CFO Sells $132,253.44 in Stock

Liberty Energy Inc. (NYSE:LBRT) CFO Michael Stock sold 6,666 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $19.84, for a total transaction of $132,253.44. Following the sale, the chief financial officer owned 760,379 shares in the company, valued at $15,085,919.36. This trade represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 3rd, Michael Stock sold 3,333 shares of Liberty Energy stock. The stock was sold at an average price of $17.95, for a total transaction of $59,827.35.
• On Wednesday, July 1st, Michael Stock sold 9,999 shares of Liberty Energy stock. The stock was sold at an average price of $25.89, for a total transaction of $258,874.11.

Liberty Energy Trading Up 1.3%

LBRT opened at $20.38 on Friday. The business has a fifty day moving average price of $21.51 and a 200 day moving average price of $26.68. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.99 and a quick ratio of 1.75. Liberty Energy Inc. has a 12 month low of $9.90 and a 12 month high of $34.48. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 2.94 and a beta of 0.61.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Liberty Energy had a net margin of 2.92% and a return on equity of 1.14%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the firm earned $0.12 earnings per share. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. Sell-side analysts expect that Liberty Energy Inc. will post 0.33 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a dividend of $0.09 per share. The ex-dividend date is Friday, September 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.8%. Liberty Energy’s payout ratio is presently 48.65%.

Institutional Investors Weigh In On Liberty Energy

A number of hedge funds and other institutional investors have recently modified their holdings of LBRT. PNC Financial Services Group Inc. lifted its stake in shares of Liberty Energy by 5.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,855 shares of the company’s stock worth $226,000 after purchasing an additional 375 shares during the period. Root Financial Partners LLC lifted its holdings in shares of Liberty Energy by 79.6% during the 1st quarter. Root Financial Partners LLC now owns 914 shares of the company’s stock worth $26,000 after acquiring an additional 405 shares during the period. Maryland State Retirement & Pension System boosted its position in shares of Liberty Energy by 2.0% in the fourth quarter. Maryland State Retirement & Pension System now owns 23,760 shares of the company’s stock worth $439,000 after acquiring an additional 477 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in Liberty Energy by 1.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 37,085 shares of the company’s stock worth $685,000 after purchasing an additional 600 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Liberty Energy by 39.9% in the 4th quarter. Quadrant Capital Group LLC now owns 2,140 shares of the company’s stock worth $40,000 after buying an additional 610 shares during the period. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barclays increased their price objective on Liberty Energy from $29.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Royal Bank Of Canada reduced their price objective on shares of Liberty Energy from $34.00 to $29.00 and set a “sector perform” rating for the company in a research report on Friday, July 24th. Morgan Stanley set a $32.00 price target on shares of Liberty Energy in a research note on Friday, July 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Energy in a research report on Wednesday, July 29th. Finally, The Goldman Sachs Group set a $23.00 price target on Liberty Energy in a research note on Friday, August 7th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Liberty Energy Company Profile

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.