Liberty Energy (NYSE:LBRT) Issues Quarterly Earnings Results

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

Liberty Energy Stock Up 1.2 %

Shares of NYSE LBRT opened at $22.37 on Friday. The company’s 50-day simple moving average is $21.20 and its 200-day simple moving average is $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 cap of $3.73 billion, a price-to-earnings ratio of 8.16, a price-to-earnings-growth 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be given a $0.07 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $0.28 annualized dividend and a dividend yield of 1.25%. Liberty Energy’s dividend payout ratio (DPR) is 10.22%.

Insider Activity

In other news, insider R Sean Elliott sold 20,000 shares of Liberty Energy stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total value of $410,000.00. Following the sale, the insider now owns 218,530 shares in the company, valued at $4,479,865. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CAO Ryan T. Gosney sold 6,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total transaction of $123,000.00. Following the transaction, the chief accounting officer now directly owns 140,706 shares in the company, valued at $2,884,473. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R Sean Elliott sold 20,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total transaction of $410,000.00. Following the transaction, the insider now owns 218,530 shares in the company, valued at $4,479,865. The disclosure for this sale can be found here. Insiders have sold a total of 98,459 shares of company stock worth $2,077,491 over the last 90 days. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Liberty Energy

A number of institutional investors and hedge funds have recently bought and sold shares of LBRT. Advisor Group Holdings Inc. boosted its holdings in Liberty Energy by 24.7% in the 1st quarter. Advisor Group Holdings Inc. now owns 13,300 shares of the company’s stock valued at $194,000 after purchasing an additional 2,637 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Liberty Energy by 129.4% in the 1st quarter. Bank of New York Mellon Corp now owns 2,089,808 shares of the company’s stock valued at $30,971,000 after purchasing an additional 1,178,716 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Liberty Energy by 17.4% in the 1st quarter. HighTower Advisors LLC now owns 17,607 shares of the company’s stock valued at $261,000 after purchasing an additional 2,607 shares during the last quarter. Citigroup Inc. boosted its holdings in Liberty Energy by 775.0% in the 1st quarter. Citigroup Inc. now owns 219,897 shares of the company’s stock valued at $3,259,000 after purchasing an additional 194,767 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in Liberty Energy by 106.8% in the 1st quarter. MetLife Investment Management LLC now owns 49,221 shares of the company’s stock valued at $729,000 after purchasing an additional 25,424 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LBRT. Piper Sandler raised their price target on Liberty Energy from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Wells Fargo & Company lifted their price objective on shares of Liberty Energy from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday. Morgan Stanley increased their price objective on shares of Liberty Energy from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Bank of America raised their target price on shares of Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Finally, TD Cowen lifted their price objective on shares of Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.