Insider Selling: Liberty Energy (NYSE:LBRT) CFO Sells $669,533.04 in Stock

Liberty Energy Inc. (NYSE:LBRT) CFO Michael Stock sold 19,998 shares of Liberty Energy stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $33.48, for a total value of $669,533.04. Following the completion of the transaction, the chief financial officer owned 800,375 shares in the company, valued at $26,796,555. This trade represents a 2.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Liberty Energy Price Performance

LBRT opened at $31.82 on Friday. Liberty Energy Inc. has a 1 year low of $9.90 and a 1 year high of $34.48. The firm has a market capitalization of $5.19 billion, a PE ratio of 34.97, a price-to-earnings-growth ratio of 9.83 and a beta of 0.56. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.21 and a quick ratio of 1.97. The business’s 50-day moving average is $30.49 and its two-hundred day moving average is $24.43.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.19. Liberty Energy had a return on equity of 1.41% and a net margin of 3.71%.The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $954.71 million. During the same quarter in the previous year, the firm earned $0.04 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. Research analysts anticipate that Liberty Energy Inc. will post 0.07 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be paid a dividend of $0.09 per share. The ex-dividend date is Thursday, June 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.1%. Liberty Energy’s payout ratio is presently 39.56%.

Institutional Investors Weigh In On Liberty Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Root Financial Partners LLC lifted its holdings in shares of Liberty Energy by 79.6% during the first quarter. Root Financial Partners LLC now owns 914 shares of the company’s stock worth $26,000 after purchasing an additional 405 shares during the period. Valued Wealth Advisors LLC acquired a new stake in shares of Liberty Energy during the first quarter worth about $26,000. Summit Securities Group LLC acquired a new stake in shares of Liberty Energy during the first quarter worth about $28,000. Los Angeles Capital Management LLC acquired a new stake in shares of Liberty Energy during the fourth quarter worth about $29,000. Finally, Kelleher Financial Advisors acquired a new stake in shares of Liberty Energy during the third quarter worth about $29,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Bank of America upgraded Liberty Energy from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Tuesday, February 17th. Weiss Ratings restated a “hold (c)” rating on shares of Liberty Energy in a research note on Friday, May 1st. UBS Group boosted their price target on Liberty Energy from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. TD Cowen boosted their price target on Liberty Energy from $19.00 to $21.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Finally, Barclays boosted their price target on Liberty Energy from $29.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.42.

About Liberty Energy

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.