Michael Stock Sells 13,332 Shares of Liberty Energy (NYSE:LBRT) Stock

Liberty Energy Inc. (NYSE:LBRT) CFO Michael Stock sold 13,332 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $29.46, for a total value of $392,760.72. Following the completion of the transaction, the chief financial officer owned 787,043 shares of the company’s stock, valued at approximately $23,186,286.78. This represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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, June 2nd, Michael Stock sold 3,333 shares of Liberty Energy stock. The shares were sold at an average price of $31.00, for a total transaction of $103,323.00.
• On Wednesday, May 20th, Michael Stock sold 19,998 shares of Liberty Energy stock. The shares were sold at an average price of $33.48, for a total transaction of $669,533.04.

Liberty Energy Stock Performance

Shares of LBRT traded up $1.90 during trading hours on Tuesday, hitting $31.27. The company had a trading volume of 4,002,559 shares, compared to its average volume of 4,298,846. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of 34.37, a PEG ratio of 8.75 and a beta of 0.56. The business has a fifty day moving average of $30.41 and a 200-day moving average of $25.02. The company has a quick ratio of 1.97, a current ratio of 2.21 and a debt-to-equity ratio of 0.75. Liberty Energy Inc. has a 12 month low of $9.90 and a 12 month high of $34.48.

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

Liberty Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be given 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 yield of 1.2%. Liberty Energy’s payout ratio is currently 39.56%.

Analyst Ratings Changes

LBRT has been the topic of a number of research reports. Piper Sandler boosted their price objective on Liberty Energy from $32.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Weiss Ratings restated a “hold (c)” rating on shares of Liberty Energy in a research report on Friday, May 1st. The Goldman Sachs Group boosted their price objective on Liberty Energy from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 4th. Wall Street Zen upgraded Liberty Energy from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Bank of America upgraded Liberty Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Liberty Energy presently has a consensus rating of “Moderate Buy” and an average price target of $30.42.

Institutional Investors Weigh In On Liberty Energy

A number of institutional investors have recently made changes to their positions in LBRT. Arrowstreet Capital Limited Partnership lifted 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 purchasing an additional 3,988,535 shares during the period. Franklin Resources Inc. lifted its stake in shares of Liberty Energy by 78.5% in the 3rd quarter. Franklin Resources Inc. now owns 8,575,840 shares of the company’s stock valued at $105,826,000 after purchasing an additional 3,771,724 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of Liberty Energy by 1,529.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 2,753,357 shares of the company’s stock valued at $33,976,000 after purchasing an additional 2,584,359 shares during the period. Millennium Management LLC lifted its stake in shares of Liberty Energy by 184.7% in the 4th quarter. Millennium Management LLC now owns 3,287,466 shares of the company’s stock valued at $60,687,000 after purchasing an additional 2,132,685 shares during the period. Finally, Sourcerock Group LLC acquired a new position in shares of Liberty Energy in the 2nd quarter valued at about $23,653,000. Institutional investors own 98.22% of the company’s stock.

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. 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.