Liberty Energy (NYSE:LBRT) Issues Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Liberty Energy (NYSE:LBRT) posted its quarterly earnings data on Wednesday. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.06), Briefing.com reports. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. Liberty Energy had a net margin of 10.43% and a return on equity of 26.90%. The company’s revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 earnings per share.

Liberty Energy Price Performance

Shares of NYSE:LBRT traded up $0.32 during trading on Friday, reaching $22.42. 800,286 shares of the company traded hands, compared to its average volume of 2,938,865. The company has a quick ratio of 1.17, a current ratio of 1.49 and a debt-to-equity ratio of 0.15. Liberty Energy has a 52 week low of $11.62 and a 52 week high of $23.31. The firm has a market capitalization of $3.74 billion, a PE ratio of 8.18, a PEG ratio of 1.04 and a beta of 1.85. The company’s 50 day moving average is $21.15 and its two-hundred day moving average is $19.65.

Liberty Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.25%. Liberty Energy’s payout ratio is 10.22%.

Insider Buying and Selling

In related news, CAO Ryan T. Gosney sold 6,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total transaction of $123,000.00. Following the completion of the sale, the chief accounting officer now directly owns 140,706 shares in the company, valued at approximately $2,884,473. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Ryan T. Gosney sold 6,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total transaction of $123,000.00. Following the completion of the sale, the chief accounting officer now directly owns 140,706 shares in the company, valued at approximately $2,884,473. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William F. Kimble sold 12,459 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $21.55, for a total value of $268,491.45. Following the completion of the transaction, the director now directly owns 69,963 shares of the company’s stock, valued at approximately $1,507,702.65. The disclosure for this sale can be found here. Insiders sold a total of 98,459 shares of company stock worth $2,077,491 in the last ninety days. 3.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Liberty Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP increased its holdings in Liberty Energy by 111.0% in the 2nd quarter. Quarry LP now owns 3,965 shares of the company’s stock worth $53,000 after purchasing an additional 2,086 shares in the last quarter. KBC Group NV acquired a new position in Liberty Energy in the 4th quarter worth about $55,000. West Tower Group LLC acquired a new stake in shares of Liberty Energy in the fourth quarter valued at about $56,000. PNC Financial Services Group Inc. increased its stake in shares of Liberty Energy by 27.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after buying an additional 709 shares during the period. Finally, US Bancorp DE increased its stake in shares of Liberty Energy by 71.4% in the fourth quarter. US Bancorp DE now owns 3,896 shares of the company’s stock valued at $71,000 after buying an additional 1,623 shares during the period. Institutional investors and hedge funds own 98.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Bank of America lifted their price target on shares of Liberty Energy from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday. Morgan Stanley boosted their price objective on shares of Liberty Energy from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Wells Fargo & Company boosted their price objective on shares of Liberty Energy from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday. Piper Sandler increased their price target on shares of Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Finally, Barclays boosted their price objective on Liberty Energy from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.10.

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.