Liberty Energy (NYSE:LBRT) CFO Sells $392,760.72 in Stock

Liberty Energy Inc. (NYSE:LBRT) CFO Michael Stock sold 13,332 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $29.46, for a total value of $392,760.72. Following the transaction, the chief financial officer directly owned 787,043 shares in the company, valued at approximately $23,186,286.78. This trade represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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, June 2nd, Michael Stock sold 3,333 shares of Liberty Energy stock. The stock was sold at an average price of $31.00, for a total value of $103,323.00.
• On Wednesday, May 20th, Michael Stock sold 19,998 shares of Liberty Energy stock. The stock was sold at an average price of $33.48, for a total value of $669,533.04.

Liberty Energy Stock Up 6.5%

LBRT traded up $1.90 during midday trading on Tuesday, reaching $31.27. 4,002,559 shares of the company were exchanged, compared to its average volume of 4,298,846. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.97 and a current ratio of 2.21. The company’s fifty day moving average price is $30.41 and its 200 day moving average price is $25.02. The company has a market cap of $5.10 billion, a price-to-earnings ratio of 34.37, a price-to-earnings-growth ratio of 8.75 and a beta of 0.56. Liberty Energy Inc. has a one year low of $9.90 and a one year high of $34.48.

Liberty Energy (NYSE:LBRT) last released its earnings results on Wednesday, April 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.19. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $954.71 million. Liberty Energy had a return on equity of 1.41% and a net margin of 3.71%.Liberty Energy’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.04 earnings per share. As a group, analysts expect that Liberty Energy Inc. will post 0.07 EPS for the current year.

Liberty Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, June 4th. Liberty Energy’s dividend payout ratio is 39.56%.

Institutional Investors Weigh In On Liberty Energy

Institutional investors have recently made changes to their positions in the stock. Florida Financial Advisors LLC purchased a new stake in shares of Liberty Energy in the third quarter worth $1,318,000. Vanguard Group Inc. raised its position in shares of Liberty Energy by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 18,096,443 shares of the company’s stock worth $334,060,000 after buying an additional 97,998 shares in the last quarter. Hantz Financial Services Inc. raised its position in shares of Liberty Energy by 94.3% in the third quarter. Hantz Financial Services Inc. now owns 95,511 shares of the company’s stock worth $1,179,000 after buying an additional 46,366 shares in the last quarter. Aventail Capital Group LP raised its position in shares of Liberty Energy by 94.6% in the third quarter. Aventail Capital Group LP now owns 334,637 shares of the company’s stock worth $4,129,000 after buying an additional 162,668 shares in the last quarter. Finally, Citigroup Inc. raised its position in shares of Liberty Energy by 23.1% in the third quarter. Citigroup Inc. now owns 273,258 shares of the company’s stock worth $3,372,000 after buying an additional 51,266 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Analyst Ratings Changes

LBRT has been the subject of several research reports. Wall Street Zen raised Liberty Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Bank of America raised Liberty Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Tuesday, February 17th. UBS Group reissued a “buy” rating on shares of Liberty Energy in a report on Tuesday, May 26th. Morgan Stanley set a $36.00 price objective on Liberty Energy in a report on Monday, April 27th. Finally, Stifel Nicolaus increased their price objective on Liberty Energy from $28.00 to $37.00 and gave the company a “buy” rating in a report on Friday, April 24th. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Liberty Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.42.

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. As of as of December 31, 2023, the company owned and operated a fleet of approximately 40 active hydraulic fracturing; and two sand mines in the Permian Basin.