Liberty Energy (NYSE:LBRT) Announces Earnings Results

Liberty Energy (NYSE:LBRT) issued its quarterly earnings results on Wednesday. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06), Briefing.com reports. Liberty Energy had a net margin of 10.43% and a return on equity of 26.46%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the business earned $0.90 earnings per share. The firm’s revenue was down 12.8% on a year-over-year basis.

Liberty Energy Stock Performance

Shares of LBRT stock opened at $22.38 on Friday. The stock has a fifty day moving average of $21.20 and a 200 day moving average of $19.68. Liberty Energy has a 52 week low of $11.62 and a 52 week high of $23.31. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 8.16, a PEG ratio of 1.08 and a beta of 1.85. The company has a quick ratio of 1.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.09.

Liberty Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, June 5th. Liberty Energy’s payout ratio is 10.22%.

Insider Buying and Selling

In related news, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 2,830,402 shares of the company’s stock, valued at $57,372,248.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $20.27, for a total transaction of $405,400.00. Following the completion of the transaction, the chief executive officer now owns 2,830,402 shares of the company’s stock, valued at $57,372,248.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William F. Kimble sold 12,459 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 69,963 shares of the company’s stock, valued at approximately $1,507,702.65. The disclosure for this sale can be found here. Insiders sold 98,459 shares of company stock valued at $2,077,491 over the last quarter. 3.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Liberty Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP raised its position in shares of Liberty Energy by 111.0% in the 2nd quarter. Quarry LP now owns 3,965 shares of the company’s stock worth $53,000 after purchasing an additional 2,086 shares during the last quarter. KBC Group NV purchased a new position in shares of Liberty Energy in the 4th quarter worth about $55,000. West Tower Group LLC purchased a new position in shares of Liberty Energy in the 4th quarter worth about $56,000. PNC Financial Services Group Inc. raised its position in shares of Liberty Energy by 27.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock worth $59,000 after purchasing an additional 709 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of Liberty Energy by 71.4% in the 4th quarter. US Bancorp DE now owns 3,896 shares of the company’s stock worth $71,000 after purchasing an additional 1,623 shares during 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 research analysts have commented on LBRT shares. Bank of America increased their price target on shares of 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 increased their price target on shares of Liberty Energy from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Barclays increased their price target on shares of Liberty Energy from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday. TD Cowen raised their target price on shares of Liberty Energy from $19.00 to $21.00 and gave the stock a “hold” rating in a report on Friday. Finally, Wells Fargo & Company raised their target price on shares of Liberty Energy from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Liberty Energy presently has a consensus rating of “Moderate Buy” and an average price target of $24.30.

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.