Christopher A. Wright Sells 37,761 Shares of Liberty Energy Inc. (NYSE:LBRT) Stock

Posted by Defense World Staff on Sep 9th, 2023

Liberty Energy Inc. (NYSE:LBRT – Get Free Report) CEO Christopher A. Wright sold 37,761 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $17.85, for a total value of $674,033.85. Following the sale, the chief executive officer now owns 3,073,962 shares in the company, valued at $54,870,221.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Liberty Energy Trading Down 0.1 %

Shares of LBRT stock opened at $17.76 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.17 and a current ratio of 1.44. Liberty Energy Inc. has a 1 year low of $11.18 and a 1 year high of $18.35. The stock has a fifty day moving average of $15.93 and a two-hundred day moving average of $14.22. The firm has a market capitalization of $3.03 billion, a PE ratio of 5.27 and a beta of 2.13.

Liberty Energy (NYSE:LBRT – Get Free Report) last announced its quarterly earnings data on Thursday, July 20th. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.03). The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.26 billion. Liberty Energy had a net margin of 12.63% and a return on equity of 39.89%. The company’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 EPS. As a group, research analysts expect that Liberty Energy Inc. will post 3.09 EPS for the current year.

Liberty Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, September 5th. This represents a $0.20 annualized dividend and a dividend yield of 1.13%. Liberty Energy’s dividend payout ratio (DPR) is 5.93%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lowered their price target on Liberty Energy from $24.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, June 30th. Morgan Stanley reiterated an “equal weight” rating and issued a $18.00 price target on shares of Liberty Energy in a report on Monday, July 24th. Barclays lowered their price target on Liberty Energy from $25.00 to $22.00 in a report on Thursday, June 8th. Stifel Nicolaus lowered their price target on Liberty Energy from $28.00 to $26.00 in a report on Wednesday, July 12th. Finally, Citigroup boosted their price objective on Liberty Energy from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, July 18th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Liberty Energy currently has a consensus rating of “Hold” and an average target price of $20.45.

Get Our Latest Stock Report on Liberty Energy

Institutional Trading of Liberty Energy

Institutional investors have recently modified their holdings of the company. Tucker Asset Management LLC acquired a new stake in shares of Liberty Energy during the second quarter worth $98,000. Virginia Retirement Systems ET AL acquired a new stake in shares of Liberty Energy during the second quarter worth $1,223,000. Comerica Bank acquired a new stake in shares of Liberty Energy during the second quarter worth $97,400,000. California State Teachers Retirement System raised its position in shares of Liberty Energy by 25.6% during the second quarter. California State Teachers Retirement System now owns 203,574 shares of the company’s stock worth $2,722,000 after purchasing an additional 41,484 shares during the period. Finally, Osaic Holdings Inc. raised its position in shares of Liberty Energy by 8.3% during the second quarter. Osaic Holdings Inc. now owns 31,949 shares of the company’s stock worth $428,000 after purchasing an additional 2,458 shares during the period. Institutional investors and hedge funds own 91.34% of the company’s stock.

About Liberty Energy

(Get Free Report)

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, data analytics, related goods, and technologies; and other services comprising design and pump diagnostic fracture injection test, DFIT and mini-frac analysis, and laboratory services, such as fluid rheology, surfactant, clay control, scaling and biocide testing.