Liberty Energy (NYSE:LBRT) CFO Sells $60,560.61 in Stock

Liberty Energy Inc. (NYSE:LBRT) CFO Michael Stock sold 3,333 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $18.17, for a total value of $60,560.61. Following the sale, the chief financial officer owned 757,046 shares of the company’s stock, valued at approximately $13,755,525.82. This represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 value of $66,660.00.
• 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 value of $132,253.44.
• On Monday, August 3rd, Michael Stock sold 3,333 shares of Liberty Energy stock. The shares were sold at an average price of $17.95, for a total transaction of $59,827.35.

Liberty Energy Price Performance

NYSE LBRT opened at $19.43 on Thursday. The company has a quick ratio of 1.75, a current ratio of 1.99 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $3.17 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 3.40 and a beta of 0.71. Liberty Energy Inc. has a 12-month low of $11.52 and a 12-month high of $34.48. The company has a 50 day moving average price of $19.73 and a two-hundred day moving average price of $25.17.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Liberty Energy had a net margin of 2.92% and a return on equity of 1.14%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm earned $0.12 EPS. Liberty Energy’s revenue for the quarter was up 14.0% on a year-over-year basis. As a group, equities analysts predict that Liberty Energy Inc. will post 0.3 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, September 4th. Liberty Energy’s dividend payout ratio (DPR) is 48.65%.

Hedge Funds Weigh In On Liberty Energy

A number of institutional investors and hedge funds have recently bought and sold shares of LBRT. Arrowstreet Capital Limited Partnership raised its stake in shares of Liberty Energy by 901.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,431,125 shares of the company’s stock valued at $127,616,000 after buying an additional 3,988,535 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Liberty Energy during the 2nd quarter valued at about $61,185,000. Eventide Asset Management LLC bought a new stake in Liberty Energy in the fourth quarter valued at about $36,394,000. Empyrean Capital Partners LP bought a new stake in Liberty Energy in the fourth quarter valued at about $22,152,000. Finally, Atom Investors LP acquired a new position in Liberty Energy in the fourth quarter worth about $9,484,000. Institutional investors own 98.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on LBRT shares. Zacks Research downgraded Liberty Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Royal Bank Of Canada reduced their target price on Liberty Energy from $34.00 to $29.00 and set a “sector perform” rating for the company in a report on Friday, July 24th. Piper Sandler decreased their target price on Liberty Energy from $34.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, August 27th. Stifel Nicolaus lowered their price target on Liberty Energy from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, July 24th. Finally, The Goldman Sachs Group set a $23.00 price target on shares of Liberty Energy in a research report on Friday, August 7th. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.54.

About Liberty Energy

Liberty Energy Inc is an oilfield services company that provides hydraulic fracturing and related completion services to exploration and production companies. Its operations support the development of unconventional oil and natural gas wells, primarily in North America.

The company’s services and technologies include pressure pumping, well stimulation, wireline services, proppant and logistics solutions, and digital tools designed to improve completion performance and operational efficiency.