Liberty Energy Inc. (NYSE:LBRT) CEO Sells $395,400.00 in Stock

Liberty Energy Inc. (NYSE:LBRT) CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $19.77, for a total value of $395,400.00. Following the sale, the chief executive officer now directly owns 2,638,813 shares of the company’s stock, valued at $52,169,333.01. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Liberty Energy Price Performance

LBRT traded up $0.01 during trading on Friday, hitting $20.51. The company’s stock had a trading volume of 1,110,215 shares, compared to its average volume of 2,493,833. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 7.48, a P/E/G ratio of 1.24 and a beta of 1.68. Liberty Energy Inc. has a twelve month low of $16.33 and a twelve month high of $24.75. The business’s fifty day simple moving average is $20.44 and its 200 day simple moving average is $21.37. The company has a current ratio of 1.35, a quick ratio of 1.07 and a debt-to-equity ratio of 0.17.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.87 EPS. On average, equities research analysts forecast that Liberty Energy Inc. will post 2.18 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $0.07 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.28 dividend on an annualized basis and a yield of 1.37%. Liberty Energy’s payout ratio is 10.22%.

Hedge Funds Weigh In On Liberty Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. Foundry Partners LLC grew its position in Liberty Energy by 15.6% in the first quarter. Foundry Partners LLC now owns 209,056 shares of the company’s stock worth $4,332,000 after acquiring an additional 28,153 shares during the period. Russell Investments Group Ltd. increased its position in shares of Liberty Energy by 114.2% during the 1st quarter. Russell Investments Group Ltd. now owns 174,265 shares of the company’s stock worth $3,611,000 after purchasing an additional 92,923 shares during the last quarter. Hennessy Advisors Inc. increased its position in shares of Liberty Energy by 14.1% during the 1st quarter. Hennessy Advisors Inc. now owns 1,338,400 shares of the company’s stock worth $27,732,000 after purchasing an additional 165,400 shares during the last quarter. LSV Asset Management raised its holdings in Liberty Energy by 60.2% in the 1st quarter. LSV Asset Management now owns 1,437,041 shares of the company’s stock valued at $29,775,000 after buying an additional 539,861 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in Liberty Energy in the first quarter valued at $690,000. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Analyst Ratings Changes

LBRT has been the subject of a number of recent research reports. Barclays reduced their price target on shares of Liberty Energy from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Piper Sandler decreased their target price on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Bank of America lowered their price target on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. TD Cowen reduced their price objective on Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Friday, July 19th. Finally, Citigroup decreased their price objective on Liberty Energy from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.00.

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.