Liberty Energy (NYSE:LBRT) CFO Sells $55,794.42 in Stock

Liberty Energy Inc. (NYSE:LBRT) CFO Michael Stock sold 3,333 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $16.74, for a total value of $55,794.42. Following the completion of the sale, the chief financial officer owned 750,380 shares in the company, valued at approximately $12,561,361.20. The trade was a 0.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Stock also recently made the following trade(s):

• On Tuesday, October 6th, Michael Stock sold 3,333 shares of Liberty Energy stock. The shares were sold at an average price of $20.00, for a total value of $66,660.00.
• On Thursday, October 1st, Michael Stock sold 3,333 shares of Liberty Energy stock. The stock was sold at an average price of $18.17, for a total value of $60,560.61.
• On Tuesday, September 1st, Michael Stock sold 6,666 shares of Liberty Energy stock. The shares were sold at an average price of $19.84, for a total transaction of $132,253.44.

Liberty Energy Trading Down 12.7%

Shares of LBRT traded down $2.14 during trading hours on Monday, reaching $14.74. 4,630,398 shares of the company traded hands, compared to its average volume of 4,289,911. The stock’s fifty day moving average price is $18.68 and its 200 day moving average price is $24.61. The company has a current ratio of 1.30, a quick ratio of 1.09 and a debt-to-equity ratio of 0.75. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 61.41, a PEG ratio of 3.81 and a beta of 0.71. Liberty Energy Inc. has a 12-month low of $14.64 and a 12-month high of $34.48.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Wednesday, October 21st. The company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. Liberty Energy had a net margin of 0.91% and a return on equity of 2.13%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the firm posted ($0.06) EPS. The firm’s revenue was up 26.3% compared to the same quarter last year. Sell-side analysts forecast that Liberty Energy Inc. will post 0.22 earnings per share for the current year.

Liberty Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a $0.10 dividend. The ex-dividend date is Friday, December 4th. This represents a $0.40 dividend on an annualized basis and a yield of 2.7%. This is an increase from Liberty Energy’s previous quarterly dividend of $0.09. Liberty Energy’s payout ratio is currently 166.67%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LBRT shares. Royal Bank Of Canada decreased their price target on shares of Liberty Energy from $34.00 to $29.00 and set a “sector perform” rating for the company in a research note on Friday, July 24th. Morgan Stanley dropped their price objective on Liberty Energy from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 14th. The Goldman Sachs Group set a $23.00 price objective on Liberty Energy in a report on Friday, August 7th. Scotiabank began coverage on Liberty Energy in a research report on Tuesday, September 29th. They set a “sector perform” rating and a $19.00 target price for the company. Finally, Piper Sandler decreased their target price on Liberty Energy from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, October 23rd. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Liberty Energy presently has an average rating of “Moderate Buy” and an average target price of $26.42.

Hedge Funds Weigh In On Liberty Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Pekin Hardy Strauss Inc. lifted its holdings in Liberty Energy by 982.3% during the third quarter. Pekin Hardy Strauss Inc. now owns 189,395 shares of the company’s stock worth $3,451,000 after buying an additional 171,895 shares during the period. Arlington Capital Management INC increased its holdings in shares of Liberty Energy by 1.8% in the 3rd quarter. Arlington Capital Management INC now owns 148,500 shares of the company’s stock valued at $2,706,000 after acquiring an additional 2,592 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Liberty Energy by 43.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 50,769 shares of the company’s stock valued at $925,000 after acquiring an additional 15,258 shares during the period. State of Wyoming increased its holdings in shares of Liberty Energy by 368.2% in the 3rd quarter. State of Wyoming now owns 20,363 shares of the company’s stock valued at $371,000 after acquiring an additional 16,014 shares during the period. Finally, Choreo LLC raised its position in shares of Liberty Energy by 25.4% in the 3rd quarter. Choreo LLC now owns 29,159 shares of the company’s stock worth $531,000 after acquiring an additional 5,908 shares in the last quarter. 98.22% of the stock is currently owned by institutional investors.

About Liberty Energy

Liberty Energy Inc is an oilfield services company that provides completion and production services to exploration and production companies. Its primary business is hydraulic fracturing, a well-stimulation technique used to improve the flow of oil and natural gas from unconventional reservoirs.

The company also offers wireline services, well diagnostics, frac data analysis, engineering support, and related technologies designed to help customers plan, execute, and evaluate well-completion operations.