Insider Selling: Liberty Energy Inc. (NYSE:LBRT) CEO Sells 20,000 Shares of Stock

Liberty Energy Inc. (NYSE:LBRT) CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $19.77, for a total value of $395,400.00. Following the completion of the transaction, the chief executive officer now directly owns 2,638,813 shares of the company’s stock, valued at approximately $52,169,333.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Liberty Energy Stock Performance

Shares of NYSE:LBRT opened at $20.51 on Friday. Liberty Energy Inc. has a twelve month low of $16.33 and a twelve month high of $24.75. The firm has a market cap of $3.42 billion, a PE ratio of 7.49, a price-to-earnings-growth ratio of 1.24 and a beta of 1.68. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35. The business has a fifty day moving average of $20.39 and a 200-day moving average of $21.38.

Liberty Energy (NYSE:LBRT) last announced its earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company posted $0.87 earnings per share. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities research analysts predict that Liberty Energy Inc. will post 2.18 EPS for the current fiscal year.

Liberty Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a $0.07 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.28 dividend on an annualized basis and a yield of 1.37%. Liberty Energy’s payout ratio is 10.22%.

Institutional Trading of Liberty Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new stake in Liberty Energy in the second quarter worth about $32,000. GAMMA Investing LLC increased its position in Liberty Energy by 69.2% in the second quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock worth $36,000 after purchasing an additional 713 shares during the period. nVerses Capital LLC increased its position in Liberty Energy by 45.0% in the second quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock worth $61,000 after purchasing an additional 900 shares during the period. PNC Financial Services Group Inc. increased its position in Liberty Energy by 27.7% in the fourth 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. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Liberty Energy in the fourth quarter worth about $63,000. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on LBRT shares. Bank of America reduced their target price on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. TD Cowen cut their price objective on Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a report on Friday, July 19th. Barclays cut their price objective on Liberty Energy from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. Citigroup cut their price objective on Liberty Energy from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday. Finally, Piper Sandler cut their price objective on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Liberty Energy presently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

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.