Liberty Energy (NYSE:LBRT) Announces Earnings Results

Liberty Energy (NYSE:LBRT) issued its quarterly earnings results on Wednesday. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01, Yahoo Finance reports. Liberty Energy had a net margin of 10.43% and a return on equity of 26.46%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the business posted $0.87 EPS. Liberty Energy’s revenue for the quarter was down 2.9% compared to the same quarter last year.

Liberty Energy Stock Performance

Shares of NYSE LBRT opened at $22.14 on Thursday. The company’s fifty day moving average price is $21.97 and its 200 day moving average price is $21.00. Liberty Energy has a 1 year low of $14.75 and a 1 year high of $24.75. The company has a market capitalization of $3.69 billion, a PE ratio of 8.08, a price-to-earnings-growth ratio of 1.27 and a beta of 1.74. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.48.

Liberty Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Friday, September 6th. Liberty Energy’s dividend payout ratio (DPR) is presently 10.22%.

Insider Buying and Selling

In related news, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $21.64, for a total transaction of $432,800.00. Following the sale, the chief executive officer now directly owns 2,818,814 shares of the company’s stock, valued at $60,999,134.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $21.64, for a total transaction of $432,800.00. Following the transaction, the chief executive officer now directly owns 2,818,814 shares of the company’s stock, valued at $60,999,134.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Michael Stock sold 4,374 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $21.01, for a total transaction of $91,897.74. Following the transaction, the chief financial officer now directly owns 785,207 shares in the company, valued at $16,497,199.07. The disclosure for this sale can be found here. Over the last three months, insiders have sold 176,000 shares of company stock valued at $3,932,731. Corporate insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LBRT. Wells Fargo & Company upped their price target on shares of Liberty Energy from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Piper Sandler dropped their price objective on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $24.00 price objective on shares of Liberty Energy in a report on Monday, April 22nd. Barclays upped their price objective on shares of Liberty Energy from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Royal Bank of Canada upped their price objective on shares of Liberty Energy from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $25.00.

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.