Liberty Energy (NYSE:LBRT) Issues Quarterly Earnings Results

Liberty Energy (NYSE:LBRT) issued its quarterly earnings results 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. Liberty Energy had a return on equity of 32.28% and a net margin of 11.72%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the firm earned $0.90 EPS. The company’s revenue for the quarter was down 12.8% on a year-over-year basis.

Liberty Energy Stock Down 0.3 %

LBRT stock opened at $21.52 on Thursday. Liberty Energy has a fifty-two week low of $11.62 and a fifty-two week high of $23.23. The business’s 50 day moving average price is $21.09 and its two-hundred day moving average price is $19.63. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.17 and a current ratio of 1.49. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 6.81, a price-to-earnings-growth ratio of 1.05 and a beta of 1.85.

Liberty Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.30%. Liberty Energy’s dividend payout ratio (DPR) is 8.86%.

Insiders Place Their Bets

In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $22.66, for a total transaction of $453,200.00. Following the transaction, the chief executive officer now owns 2,858,814 shares in the company, valued at approximately $64,780,725.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director William F. Kimble sold 12,459 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $21.55, for a total value of $268,491.45. Following the sale, the director now owns 69,963 shares in the company, valued at approximately $1,507,702.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $22.66, for a total value of $453,200.00. Following the completion of the sale, the chief executive officer now owns 2,858,814 shares in the company, valued at approximately $64,780,725.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 98,459 shares of company stock worth $2,077,491. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Liberty Energy

Several hedge funds and other institutional investors have recently made changes to their positions in LBRT. Macquarie Group Ltd. grew its stake in shares of Liberty Energy by 181.5% in the 1st quarter. Macquarie Group Ltd. now owns 8,085,410 shares of the company’s stock worth $103,574,000 after buying an additional 5,213,132 shares during the last quarter. BlackRock Inc. grew its stake in shares of Liberty Energy by 38.1% in the 3rd quarter. BlackRock Inc. now owns 13,136,514 shares of the company’s stock worth $166,571,000 after buying an additional 3,621,253 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Liberty Energy by 20.0% in the 3rd quarter. Vanguard Group Inc. now owns 16,972,147 shares of the company’s stock worth $215,207,000 after buying an additional 2,831,183 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in shares of Liberty Energy in the 4th quarter worth approximately $36,326,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Liberty Energy by 47.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,528,916 shares of the company’s stock worth $96,444,000 after buying an additional 2,417,129 shares during the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company dropped their price target on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, December 21st. Bank of America upped their price target on Liberty Energy from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Monday. Morgan Stanley upped their price target on Liberty Energy from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Finally, Piper Sandler upped their price target on Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $23.67.

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.