Liberty Energy Inc. (NYSE:LBRT) CFO Michael Stock Sells 5,000 Shares of Stock

Liberty Energy Inc. (NYSE:LBRT) CFO Michael Stock sold 5,000 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $21.01, for a total value of $105,050.00. Following the transaction, the chief financial officer now directly owns 745,207 shares in the company, valued at approximately $15,656,799.07. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Michael Stock also recently made the following trade(s):

• On Tuesday, September 3rd, Michael Stock sold 15,000 shares of Liberty Energy stock. The shares were sold at an average price of $20.01, for a total value of $300,150.00.
• On Thursday, August 1st, Michael Stock sold 20,000 shares of Liberty Energy stock. The stock was sold at an average price of $22.92, for a total transaction of $458,400.00.
• On Thursday, July 11th, Michael Stock sold 4,374 shares of Liberty Energy stock. The shares were sold at an average price of $21.01, for a total value of $91,897.74.
• On Monday, July 1st, Michael Stock sold 15,626 shares of Liberty Energy stock. The stock was sold at an average price of $20.82, for a total value of $325,333.32.

Liberty Energy Price Performance

Shares of LBRT stock opened at $21.07 on Friday. The firm has a market cap of $3.51 billion, a P/E ratio of 7.69, a P/E/G ratio of 1.11 and a beta of 1.69. The firm has a fifty day moving average of $20.80 and a two-hundred day moving average of $21.45. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 1.07. Liberty Energy Inc. has a 1-year low of $16.33 and a 1-year high of $24.75.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm earned $0.87 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, research analysts anticipate that Liberty Energy Inc. will post 2.17 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.28 dividend on an annualized basis and a yield of 1.33%. Liberty Energy’s dividend payout ratio is currently 10.22%.

Hedge Funds Weigh In On Liberty Energy

Several institutional investors have recently made changes to their positions in LBRT. American Century Companies Inc. boosted its position in Liberty Energy by 17.6% during the 2nd quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock valued at $82,754,000 after purchasing an additional 594,051 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Liberty Energy by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 2,634,256 shares of the company’s stock worth $55,030,000 after buying an additional 67,362 shares during the period. Hennessy Advisors Inc. grew its holdings in Liberty Energy by 48.0% in the 2nd quarter. Hennessy Advisors Inc. now owns 1,981,100 shares of the company’s stock worth $41,385,000 after buying an additional 642,700 shares in the last quarter. LSV Asset Management increased its position in Liberty Energy by 19.5% in the 2nd quarter. LSV Asset Management now owns 1,717,591 shares of the company’s stock valued at $35,880,000 after acquiring an additional 280,550 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Liberty Energy by 34.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,498,921 shares of the company’s stock valued at $31,312,000 after acquiring an additional 381,841 shares in the last quarter. 98.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on LBRT. TD Cowen cut their price target on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Friday, July 19th. Bank of America cut their target price on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Barclays reduced their target price on shares of Liberty Energy from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Citigroup upgraded Liberty Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $24.00 to $32.00 in a report on Wednesday, May 29th. Finally, Piper Sandler reduced their price objective on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.78.

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.