Liberty Energy (NYSE:LBRT) Announces Quarterly Earnings Results

Liberty Energy (NYSE:LBRT) released its quarterly earnings data on Thursday. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.06), Briefing.com reports. Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the business posted $0.90 EPS. The company’s quarterly revenue was down 12.8% compared to the same quarter last year.

Liberty Energy Stock Up 1.2 %

Shares of NYSE:LBRT opened at $22.37 on Friday. Liberty Energy has a 52-week low of $11.62 and a 52-week high of $23.31. The stock has a market cap of $3.73 billion, a P/E ratio of 8.16, a price-to-earnings-growth ratio of 1.08 and a beta of 1.85. The business’s 50 day moving average is $21.20 and its 200 day moving average is $19.68. The company has a quick ratio of 1.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.09.

Liberty Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be paid a $0.07 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $0.28 annualized dividend and a yield of 1.25%. Liberty Energy’s dividend payout ratio (DPR) is currently 10.22%.

Analyst Ratings Changes

A number of research analysts recently weighed in on LBRT shares. Wells Fargo & Company raised their price objective on Liberty Energy from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Friday. TD Cowen boosted their price target on Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a report on Friday. Morgan Stanley boosted their price target on Liberty Energy from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Barclays boosted their price target on Liberty Energy from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday. Finally, Piper Sandler boosted their price target on Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Liberty Energy presently has an average rating of “Moderate Buy” and a consensus target price of $24.30.

Insider Buying and Selling

In related news, CAO Ryan T. Gosney sold 6,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total value of $123,000.00. Following the transaction, the chief accounting officer now owns 140,706 shares of the company’s stock, valued at $2,884,473. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Liberty Energy news, insider R Sean Elliott sold 20,000 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total transaction of $410,000.00. Following the sale, the insider now owns 218,530 shares of the company’s stock, valued at approximately $4,479,865. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Ryan T. Gosney sold 6,000 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total value of $123,000.00. Following the sale, the chief accounting officer now directly owns 140,706 shares in the company, valued at approximately $2,884,473. The disclosure for this sale can be found here. Insiders have sold a total of 98,459 shares of company stock valued at $2,077,491 over the last quarter. 3.60% of the stock is owned by corporate insiders.

Institutional Trading of Liberty Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP boosted its position in Liberty Energy by 111.0% during the 2nd quarter. Quarry LP now owns 3,965 shares of the company’s stock valued at $53,000 after acquiring an additional 2,086 shares in the last quarter. KBC Group NV purchased a new stake in shares of Liberty Energy during the 4th quarter valued at $55,000. West Tower Group LLC purchased a new stake in shares of Liberty Energy during the 4th quarter valued at $56,000. PNC Financial Services Group Inc. lifted its holdings in shares of Liberty Energy by 27.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after purchasing an additional 709 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Liberty Energy by 71.4% during the 4th quarter. US Bancorp DE now owns 3,896 shares of the company’s stock valued at $71,000 after purchasing an additional 1,623 shares during the last quarter. Institutional investors own 98.22% of the company’s stock.

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.