Liberty Energy Inc. (NYSE:LBRT) Plans $0.08 Quarterly Dividend

Liberty Energy Inc. (NYSE:LBRTGet Free Report) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Investors of record on Thursday, March 6th will be paid a dividend of 0.08 per share on Thursday, March 20th. This represents a $0.32 dividend on an annualized basis and a yield of 1.44%.

Liberty Energy has a payout ratio of 20.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Liberty Energy to earn $0.98 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 32.7%.

Liberty Energy Stock Down 2.0 %

NYSE LBRT traded down $0.44 during mid-day trading on Wednesday, reaching $22.18. The stock had a trading volume of 2,689,263 shares, compared to its average volume of 2,809,387. The stock has a market cap of $3.62 billion, a PE ratio of 10.56 and a beta of 1.66. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.97. The company has a fifty day moving average price of $19.27 and a 200 day moving average price of $19.74. Liberty Energy has a 1 year low of $16.57 and a 1 year high of $24.75.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Seaport Res Ptn raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a report on Sunday, January 5th. The Goldman Sachs Group assumed coverage on Liberty Energy in a report on Friday, December 13th. They set a “neutral” rating and a $19.00 price target on the stock. Stifel Nicolaus lowered their price target on Liberty Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Royal Bank of Canada decreased their target price on Liberty Energy from $26.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Finally, Atb Cap Markets raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.20.

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Insider Activity at Liberty Energy

In other news, CFO Michael Stock sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $23.00, for a total value of $115,000.00. Following the completion of the sale, the chief financial officer now owns 675,207 shares of the company’s stock, valued at $15,529,761. This represents a 0.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Christopher A. Wright sold 2,936 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $19.16, for a total transaction of $56,253.76. Following the completion of the sale, the chief executive officer now directly owns 2,543,877 shares of the company’s stock, valued at approximately $48,740,683.32. This trade represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,973 shares of company stock worth $1,586,335 over the last three months. Company insiders own 3.70% of the company’s stock.

About Liberty Energy

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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.

Further Reading

Dividend History for Liberty Energy (NYSE:LBRT)

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