Liberty Energy Inc. (NYSE:LBRT) CEO Christopher A. Wright Sells 1,932 Shares of Stock

Posted by Defense World Staff on Sep 12th, 2023

Liberty Energy Inc. (NYSE:LBRT – Get Free Report) CEO Christopher A. Wright sold 1,932 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $18.00, for a total value of $34,776.00. Following the sale, the chief executive officer now owns 3,033,649 shares of the company’s stock, valued at $54,605,682. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Liberty Energy Stock Down 0.2 %

Shares of LBRT opened at $17.73 on Tuesday. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 5.26 and a beta of 2.13. The company has a quick ratio of 1.17, a current ratio of 1.44 and a debt-to-equity ratio of 0.19. Liberty Energy Inc. has a 12 month low of $11.18 and a 12 month high of $18.35. The company has a 50-day moving average price of $16.02 and a two-hundred day moving average price of $14.23.

Liberty Energy (NYSE:LBRT – Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $1.26 billion. Liberty Energy had a return on equity of 39.89% and a net margin of 12.63%. The business’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 EPS. Equities analysts predict that Liberty Energy Inc. will post 3.09 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Tuesday, September 5th. Liberty Energy’s dividend payout ratio is currently 5.93%.

Institutional Trading of Liberty Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers increased its holdings in shares of Liberty Energy by 0.7% in the first quarter. Rhumbline Advisers now owns 121,187 shares of the company’s stock valued at $1,796,000 after purchasing an additional 863 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Liberty Energy by 5.7% in the fourth quarter. HighTower Advisors LLC now owns 16,857 shares of the company’s stock valued at $271,000 after purchasing an additional 915 shares in the last quarter. US Bancorp DE boosted its stake in Liberty Energy by 67.0% in the first quarter. US Bancorp DE now owns 2,300 shares of the company’s stock valued at $29,000 after acquiring an additional 923 shares during the last quarter. CWM LLC boosted its stake in Liberty Energy by 172.0% in the second quarter. CWM LLC now owns 1,983 shares of the company’s stock valued at $27,000 after acquiring an additional 1,254 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in Liberty Energy by 3.8% in the fourth quarter. Arizona State Retirement System now owns 36,909 shares of the company’s stock valued at $591,000 after acquiring an additional 1,366 shares during the last quarter. Institutional investors and hedge funds own 91.34% of the company’s stock.

Analyst Upgrades and Downgrades

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

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About Liberty Energy

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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.