Liberty Energy Inc. (NYSE:LBRT) CEO Sells $56,253.76 in Stock

Liberty Energy Inc. (NYSE:LBRT) CEO Christopher A. Wright sold 2,936 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $19.16, for a total value of $56,253.76. Following the sale, the chief executive officer now owns 2,543,877 shares of the company’s stock, valued at $48,740,683.32. This represents a 0.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Liberty Energy Price Performance

NYSE:LBRT opened at $18.99 on Friday. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 9.04 and a beta of 1.71. Liberty Energy Inc. has a 1 year low of $16.57 and a 1 year high of $24.75. The business has a 50 day simple moving average of $18.30 and a 200-day simple moving average of $20.03. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.97.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.10). The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. Liberty Energy’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 earnings per share. Equities analysts forecast that Liberty Energy Inc. will post 1.72 EPS for the current year.

Liberty Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.08 per share. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Friday, December 6th. Liberty Energy’s dividend payout ratio (DPR) is currently 15.24%.

Institutional Investors Weigh In On Liberty Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC lifted its stake in shares of Liberty Energy by 45.1% during the 3rd quarter. Empowered Funds LLC now owns 495,578 shares of the company’s stock worth $9,461,000 after acquiring an additional 154,070 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Liberty Energy by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 872,215 shares of the company’s stock worth $16,651,000 after acquiring an additional 37,927 shares during the last quarter. Quest Partners LLC lifted its stake in shares of Liberty Energy by 168.2% during the 3rd quarter. Quest Partners LLC now owns 62,979 shares of the company’s stock worth $1,202,000 after acquiring an additional 39,497 shares during the last quarter. Impala Asset Management LLC lifted its stake in shares of Liberty Energy by 89.2% during the 3rd quarter. Impala Asset Management LLC now owns 350,000 shares of the company’s stock worth $6,682,000 after acquiring an additional 165,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Liberty Energy by 8.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,237,247 shares of the company’s stock worth $42,709,000 after acquiring an additional 166,443 shares during the last quarter. 98.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LBRT. Wells Fargo & Company cut their target price on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Royal Bank of Canada dropped their price target on Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Barclays dropped their price target on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Evercore ISI raised Liberty Energy to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Stifel Nicolaus dropped their price target on Liberty Energy from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.50.

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.