Christopher A. Wright Sells 20,000 Shares of Liberty Energy Inc. (NYSE:LBRT) Stock

Liberty Energy Inc. (NYSE:LBRT) CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $20.26, for a total value of $405,200.00. Following the transaction, the chief executive officer now owns 2,758,813 shares of the company’s stock, valued at $55,893,551.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Liberty Energy Trading Up 3.2 %

LBRT stock opened at $20.90 on Friday. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 7.63, a PEG ratio of 1.07 and a beta of 1.74. The company has a quick ratio of 1.16, a current ratio of 1.48 and a debt-to-equity ratio of 0.17. The business has a fifty day simple moving average of $22.17 and a 200-day simple moving average of $20.83. Liberty Energy Inc. has a 52 week low of $13.36 and a 52 week high of $24.75.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data on Thursday, April 18th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). The firm had revenue of $1.10 billion for 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%. The company’s quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.90 earnings per share. On average, equities research analysts expect that Liberty Energy Inc. will post 2.43 EPS for the current year.

Liberty Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, June 6th. This represents a $0.28 dividend on an annualized basis and a yield of 1.34%. Liberty Energy’s dividend payout ratio (DPR) is 10.22%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on LBRT shares. Citigroup upgraded Liberty Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $24.00 to $32.00 in a research report on Wednesday, May 29th. Barclays boosted their price target on Liberty Energy from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Wells Fargo & Company boosted their price target on Liberty Energy from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, April 19th. TD Cowen boosted their price target on Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a report on Friday, April 19th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $24.00 price target on shares of Liberty Energy in a report on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Liberty Energy has a consensus rating of “Moderate Buy” and an average target price of $25.50.

Institutional Trading of Liberty Energy

A number of institutional investors have recently added to or reduced their stakes in LBRT. Pacer Advisors Inc. boosted its position in Liberty Energy by 93.9% during the 4th quarter. Pacer Advisors Inc. now owns 4,587,073 shares of the company’s stock worth $83,210,000 after purchasing an additional 2,221,588 shares during the period. Lord Abbett & CO. LLC purchased a new stake in Liberty Energy during the 1st quarter worth $27,809,000. Hennessy Advisors Inc. purchased a new stake in Liberty Energy during the 4th quarter worth $21,278,000. Vanguard Group Inc. boosted its position in Liberty Energy by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 20,546,529 shares of the company’s stock worth $380,522,000 after purchasing an additional 893,563 shares during the period. Finally, Norges Bank purchased a new position in Liberty Energy in the 4th quarter valued at about $13,877,000. 98.22% of the stock is owned by hedge funds and other institutional investors.

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.