Insider Selling: Liberty Energy (NYSE:LBRT) CFO Sells 3,333 Shares of Company Stock

Liberty Energy Inc. (NYSE:LBRT) CFO Michael Stock sold 3,333 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $16.74, for a total transaction of $55,794.42. Following the completion of the transaction, the chief financial officer owned 750,380 shares of the company’s stock, valued at $12,561,361.20. This represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Stock also recently made the following trade(s):

• On Tuesday, October 6th, Michael Stock sold 3,333 shares of Liberty Energy stock. The shares were sold at an average price of $20.00, for a total transaction of $66,660.00.
• On Thursday, October 1st, Michael Stock sold 3,333 shares of Liberty Energy stock. The shares were sold at an average price of $18.17, for a total transaction of $60,560.61.
• On Tuesday, September 1st, Michael Stock sold 6,666 shares of Liberty Energy stock. The stock was sold at an average price of $19.84, for a total transaction of $132,253.44.

Liberty Energy Stock Down 12.7%

Shares of Liberty Energy stock traded down $2.14 on Monday, reaching $14.74. The stock had a trading volume of 4,630,398 shares, compared to its average volume of 4,289,911. The company has a 50 day moving average price of $18.68 and a 200 day moving average price of $24.61. The company has a quick ratio of 1.09, a current ratio of 1.30 and a debt-to-equity ratio of 0.75. Liberty Energy Inc. has a 1 year low of $14.64 and a 1 year high of $34.48. The stock has a market capitalization of $2.40 billion, a P/E ratio of 61.41, a P/E/G ratio of 3.81 and a beta of 0.71.

Liberty Energy (NYSE:LBRT) last posted its earnings results on Wednesday, October 21st. The company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. Liberty Energy had a net margin of 0.91% and a return on equity of 2.13%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the company posted ($0.06) earnings per share. Liberty Energy’s revenue for the quarter was up 26.3% compared to the same quarter last year. As a group, equities research analysts forecast that Liberty Energy Inc. will post 0.22 EPS for the current year.

Liberty Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be issued a $0.10 dividend. This is an increase from Liberty Energy’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, December 4th. Liberty Energy’s dividend payout ratio is presently 166.67%.

Institutional Trading of Liberty Energy

Several large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Liberty Energy by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 9,233,668 shares of the company’s stock worth $265,931,000 after buying an additional 431,269 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Liberty Energy by 901.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,431,125 shares of the company’s stock worth $127,616,000 after buying an additional 3,988,535 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Liberty Energy during the second quarter valued at $61,185,000. Squarepoint Ops LLC grew its holdings in shares of Liberty Energy by 23.8% during the second quarter. Squarepoint Ops LLC now owns 1,051,488 shares of the company’s stock valued at $27,538,000 after buying an additional 201,839 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Liberty Energy by 54.3% in the 1st quarter. Sei Investments Co. now owns 983,706 shares of the company’s stock valued at $28,331,000 after acquiring an additional 346,239 shares during the period. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Wall Street Analysts Forecast Growth

LBRT has been the topic of a number of recent analyst reports. UBS Group reduced their price target on Liberty Energy from $31.00 to $27.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Citigroup boosted their target price on Liberty Energy from $27.50 to $28.00 and gave the stock a “buy” rating in a research note on Monday, October 26th. Weiss Ratings downgraded Liberty Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 23rd. TD Cowen reduced their target price on Liberty Energy from $24.00 to $22.00 and set a “hold” rating on the stock in a research report on Friday, October 23rd. Finally, Scotiabank started coverage on Liberty Energy in a research note on Tuesday, September 29th. They issued a “sector perform” rating and a $19.00 price target for the company. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Liberty Energy has a consensus rating of “Moderate Buy” and an average target price of $26.42.

About Liberty Energy

Liberty Energy Inc is an oilfield services company that provides completion and production services to exploration and production companies. Its primary business is hydraulic fracturing, a well-stimulation technique used to improve the flow of oil and natural gas from unconventional reservoirs.

The company also offers wireline services, well diagnostics, frac data analysis, engineering support, and related technologies designed to help customers plan, execute, and evaluate well-completion operations.