Liberty Energy (NYSE:LBRT) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Liberty Energy (NYSE:LBRT) announced its quarterly earnings data on Wednesday. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.06), Briefing.com reports. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Liberty Energy had a net margin of 10.43% and a return on equity of 26.46%. The firm’s quarterly revenue was down 12.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 earnings per share.

Liberty Energy Price Performance

Shares of NYSE:LBRT opened at $22.37 on Friday. 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 has a fifty-two week low of $11.62 and a fifty-two week high of $23.31. The firm has a 50-day simple moving average of $21.20 and a 200 day simple moving average of $19.68. The company has a market cap of $3.73 billion, a PE ratio of 8.16, a P/E/G ratio of 1.08 and a beta of 1.85.

Liberty Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Wednesday, June 5th. Liberty Energy’s dividend payout ratio is presently 10.22%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on LBRT shares. Wells Fargo & Company lifted their target price on shares of Liberty Energy from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Friday. Piper Sandler upped their target price on shares of Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Bank of America upped their target price on shares of Liberty Energy from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. Morgan Stanley upped their target price on shares of Liberty Energy from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Finally, Royal Bank of Canada upped their target price on shares of Liberty Energy from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.30.

Insider Activity at Liberty Energy

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

Institutional Inflows and Outflows

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