Liberty Energy (NYSE:LBRT) CFO Michael Stock Sells 9,999 Shares

Liberty Energy Inc. (NYSE:LBRT) CFO Michael Stock sold 9,999 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $25.89, for a total value of $258,874.11. Following the sale, the chief financial officer directly owned 773,711 shares of the company’s stock, valued at approximately $20,031,377.79. This represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 Monday, June 1st, Michael Stock sold 13,332 shares of Liberty Energy stock. The shares were sold at an average price of $29.46, for a total transaction of $392,760.72.
• 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 transaction of $103,323.00.
• On Wednesday, May 20th, Michael Stock sold 19,998 shares of Liberty Energy stock. The shares were sold at an average price of $33.48, for a total transaction of $669,533.04.

Liberty Energy Trading Down 7.2%

Shares of Liberty Energy stock opened at $24.30 on Thursday. Liberty Energy Inc. has a 52-week low of $9.90 and a 52-week high of $34.48. The company has a quick ratio of 1.97, a current ratio of 2.21 and a debt-to-equity ratio of 0.75. The company’s 50-day simple moving average is $30.23 and its 200-day simple moving average is $26.58. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 2.24 and a beta of 0.54.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.19. Liberty Energy had a net margin of 3.71% and a return on equity of 1.41%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $954.71 million. During the same quarter last year, the firm earned $0.04 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Liberty Energy Inc. will post 0.25 earnings per share for the current year.

Liberty Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Thursday, June 4th. Liberty Energy’s dividend payout ratio (DPR) is currently 39.56%.

Hedge Funds Weigh In On Liberty Energy

Several hedge funds have recently added to or reduced their stakes in LBRT. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Liberty Energy by 901.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,431,125 shares of the company’s stock valued at $127,616,000 after purchasing an additional 3,988,535 shares in the last quarter. Franklin Resources Inc. lifted its stake in Liberty Energy by 78.5% in the 3rd quarter. Franklin Resources Inc. now owns 8,575,840 shares of the company’s stock valued at $105,826,000 after buying an additional 3,771,724 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in Liberty Energy by 1,529.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,753,357 shares of the company’s stock valued at $33,976,000 after buying an additional 2,584,359 shares during the last quarter. Millennium Management LLC increased its position in Liberty Energy by 184.7% during the fourth quarter. Millennium Management LLC now owns 3,287,466 shares of the company’s stock worth $60,687,000 after buying an additional 2,132,685 shares in the last quarter. Finally, Sourcerock Group LLC acquired a new position in shares of Liberty Energy in the second quarter worth $23,653,000. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LBRT has been the subject of several research analyst reports. Barclays increased their price objective on Liberty Energy from $29.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. UBS Group reaffirmed a “buy” rating on shares of Liberty Energy in a research note on Friday, June 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Energy in a report on Friday, May 1st. Zacks Research upgraded shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 22nd. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $31.00 price objective on shares of Liberty Energy in a report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.18.

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. 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.