Zacks Research Comments on Liberty Energy Inc.’s Q2 2024 Earnings (NYSE:LBRT)

Liberty Energy Inc. (NYSE:LBRT) – Equities research analysts at Zacks Research lowered their Q2 2024 earnings per share estimates for Liberty Energy in a research note issued to investors on Thursday, April 25th. Zacks Research analyst T. Saha now forecasts that the company will post earnings of $0.64 per share for the quarter, down from their previous estimate of $0.67. The consensus estimate for Liberty Energy’s current full-year earnings is $2.53 per share. Zacks Research also issued estimates for Liberty Energy’s Q4 2024 earnings at $0.66 EPS, FY2024 earnings at $2.54 EPS, Q2 2025 earnings at $0.78 EPS, Q4 2025 earnings at $0.75 EPS, FY2025 earnings at $2.99 EPS and FY2026 earnings at $3.26 EPS.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada raised their price target on Liberty Energy from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Bank of America lifted their price target on Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. TD Cowen lifted their price target on Liberty Energy from $19.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Piper Sandler boosted their price objective on Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $24.00 price target on shares of Liberty Energy in a report on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.30.

Liberty Energy Stock Performance

NYSE:LBRT opened at $23.01 on Friday. The stock has a market capitalization of $3.84 billion, a P/E ratio of 8.40, a P/E/G ratio of 1.16 and a beta of 1.85. The stock has a 50-day moving average price of $21.46 and a 200 day moving average price of $19.87. The company has a current ratio of 1.48, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17. Liberty Energy has a 12-month low of $11.62 and a 12-month high of $23.31.

Liberty Energy (NYSE:LBRT) last posted its earnings results on Thursday, April 18th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. Liberty Energy had a net margin of 10.43% and a return on equity of 26.46%. The firm’s revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 EPS.

Liberty Energy Dividend Announcement

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 paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $0.28 annualized dividend and a yield of 1.22%. Liberty Energy’s dividend payout ratio (DPR) is 10.22%.

Insider Buying and Selling at Liberty Energy

In related news, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $20.27, for a total transaction of $405,400.00. Following the transaction, the chief executive officer now owns 2,830,402 shares in the company, valued at $57,372,248.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Ryan T. Gosney sold 6,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total transaction of $123,000.00. Following the transaction, the chief accounting officer now directly owns 140,706 shares in the company, valued at approximately $2,884,473. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $20.27, for a total transaction of $405,400.00. Following the transaction, the chief executive officer now owns 2,830,402 shares in the company, valued at $57,372,248.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 98,459 shares of company stock worth $2,077,491. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Liberty Energy

Several institutional investors and hedge funds have recently modified their holdings of LBRT. EdgeRock Capital LLC acquired a new position in Liberty Energy during the 4th quarter worth $27,000. Principal Securities Inc. acquired a new position in Liberty Energy during the 4th quarter worth $39,000. Quadrant Capital Group LLC lifted its position in Liberty Energy by 70.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock worth $53,000 after acquiring an additional 1,206 shares during the last quarter. CWM LLC lifted its position in Liberty Energy by 59.7% during the 3rd quarter. CWM LLC now owns 3,166 shares of the company’s stock worth $59,000 after acquiring an additional 1,183 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Liberty Energy by 27.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock worth $59,000 after acquiring an additional 709 shares during the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

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.