Liberty Energy Inc. (NYSE:LBRT) CEO Christopher A. Wright Sells 20,000 Shares of Stock

Liberty Energy Inc. (NYSE:LBRT) CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $21.64, for a total transaction of $432,800.00. Following the sale, the chief executive officer now directly owns 2,818,814 shares in the company, valued at approximately $60,999,134.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Liberty Energy Stock Performance

Shares of NYSE LBRT opened at $21.64 on Friday. The stock has a market cap of $3.61 billion, a PE ratio of 7.90, a price-to-earnings-growth ratio of 1.08 and a beta of 1.83. Liberty Energy Inc. has a 1 year low of $11.62 and a 1 year high of $23.31. The firm has a fifty day moving average price of $21.55 and a 200-day moving average price of $19.98. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.48 and a quick ratio of 1.16.

Liberty Energy (NYSE:LBRT) last issued 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). The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The company’s quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.90 EPS. Equities analysts anticipate that Liberty Energy Inc. will post 2.52 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The business also recently disclosed 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. This represents a $0.28 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Wednesday, June 5th. Liberty Energy’s dividend payout ratio (DPR) is currently 10.22%.

Hedge Funds Weigh In On Liberty Energy

Hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. raised its holdings in shares of Liberty Energy by 93.9% during the 4th quarter. Pacer Advisors Inc. now owns 4,587,073 shares of the company’s stock worth $83,210,000 after acquiring an additional 2,221,588 shares in the last quarter. Invesco Ltd. raised its stake in Liberty Energy by 455.5% during the third quarter. Invesco Ltd. now owns 1,536,812 shares of the company’s stock valued at $28,462,000 after purchasing an additional 1,260,142 shares in the last quarter. Hennessy Advisors Inc. bought a new position in Liberty Energy during the fourth quarter valued at $21,278,000. Vanguard Group Inc. lifted its position in Liberty Energy by 4.5% during the third quarter. Vanguard Group Inc. now owns 20,546,529 shares of the company’s stock valued at $380,522,000 after purchasing an additional 893,563 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Liberty Energy by 4,473.9% in the 3rd quarter. Principal Financial Group Inc. now owns 836,470 shares of the company’s stock worth $15,491,000 after buying an additional 818,182 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on LBRT. Morgan Stanley reiterated an “equal weight” rating and set a $24.00 target price on shares of Liberty Energy in a research note on Monday, April 22nd. Royal Bank of Canada boosted their price target on Liberty Energy from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Barclays increased their price objective on shares of Liberty Energy from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Piper Sandler boosted their target price on shares of Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Finally, Bank of America upped their target price on shares of Liberty Energy from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.30.

About Liberty Energy

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.