Zacks Research Weighs in on Liberty Energy Inc.’s Q3 2024 Earnings (NYSE:LBRT)

Liberty Energy Inc. (NYSE:LBRT) – Research analysts at Zacks Research raised their Q3 2024 earnings per share (EPS) estimates for Liberty Energy in a report issued on Thursday, April 25th. Zacks Research analyst T. Saha now forecasts that the company will post earnings of $0.76 per share for the quarter, up from their prior estimate of $0.75. 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 Q1 2025 earnings at $0.51 EPS, Q3 2025 earnings at $0.95 EPS and Q1 2026 earnings at $0.60 EPS.

A number of other analysts have also recently commented on the company. Bank of America boosted their price objective on Liberty Energy from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. Morgan Stanley restated an “equal weight” rating and issued a $24.00 price objective on shares of Liberty Energy in a research report on Monday, April 22nd. Barclays boosted their price objective on Liberty Energy from $25.00 to $27.00 and gave the company an “overweight” 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 research report on Friday, January 26th. Finally, TD Cowen boosted their price objective on Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.30.

Liberty Energy Trading Up 0.3 %

Shares of NYSE:LBRT opened at $23.09 on Monday. Liberty Energy has a 12-month low of $11.62 and a 12-month high of $23.31. The company has a market capitalization of $3.85 billion, a PE ratio of 8.43, a PEG ratio of 1.16 and a beta of 1.85. The business has a 50 day moving average of $21.50 and a two-hundred day moving average of $19.93. 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 (NYSE:LBRT) last announced its quarterly earnings results on Thursday, April 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). Liberty Energy had a net margin of 10.43% and a return on equity of 26.46%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the firm posted $0.90 earnings per share. The company’s revenue was down 12.8% compared to the same quarter last year.

Institutional Trading of Liberty Energy

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Liberty Energy by 4.5% in the third quarter. Vanguard Group Inc. now owns 20,546,529 shares of the company’s stock valued at $380,522,000 after buying an additional 893,563 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Liberty Energy by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,443,849 shares of the company’s stock worth $171,314,000 after purchasing an additional 404,211 shares in the last quarter. Pacer Advisors Inc. boosted its position in Liberty Energy by 93.9% during the fourth quarter. Pacer Advisors Inc. now owns 4,587,073 shares of the company’s stock worth $83,210,000 after purchasing an additional 2,221,588 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Liberty Energy by 53.1% during the third quarter. Bank of New York Mellon Corp now owns 2,244,480 shares of the company’s stock worth $41,568,000 after purchasing an additional 778,111 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Liberty Energy by 12.4% during the third quarter. American Century Companies Inc. now owns 2,241,076 shares of the company’s stock worth $41,505,000 after purchasing an additional 247,074 shares in the last quarter. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $20.27, for a total value of $405,400.00. Following the transaction, the chief executive officer now owns 2,830,402 shares in the company, valued at approximately $57,372,248.54. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $20.27, for a total value of $405,400.00. Following the transaction, the chief executive officer now directly owns 2,830,402 shares in the company, valued at approximately $57,372,248.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William F. Kimble sold 12,459 shares of Liberty Energy stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $21.55, for a total value of $268,491.45. Following the completion of the transaction, the director now owns 69,963 shares in the company, valued at $1,507,702.65. The disclosure for this sale can be found here. Insiders have sold a total of 72,459 shares of company stock worth $1,544,491 in the last quarter. 3.60% of the stock is owned by company insiders.

Liberty Energy Announces Dividend

The business also recently declared 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 Wednesday, June 5th. This represents a $0.28 annualized dividend and a yield of 1.21%. Liberty Energy’s dividend payout ratio (DPR) is 10.22%.

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.