Zacks Research Comments on Liberty Energy Inc.’s Q3 2024 Earnings (NYSE:LBRT)

Liberty Energy Inc. (NYSE:LBRT) – Equities researchers at Zacks Research lowered their Q3 2024 earnings per share estimates for shares of Liberty Energy in a research report issued on Monday, October 14th. Zacks Research analyst R. Department now expects that the company will post earnings per share of $0.57 for the quarter, down from their previous estimate of $0.59. The consensus estimate for Liberty Energy’s current full-year earnings is $2.14 per share. Zacks Research also issued estimates for Liberty Energy’s Q3 2026 earnings at $0.73 EPS.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data 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 business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.87 EPS.

Other equities research analysts have also issued reports about the company. Citigroup cut their target price on Liberty Energy from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Barclays lowered their price target on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday. Stifel Nicolaus lowered their target price on Liberty Energy from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Bank of America lowered their target price on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Finally, TD Cowen lowered their target price on Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Liberty Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Liberty Energy Stock Up 1.3 %

LBRT opened at $20.06 on Wednesday. The stock’s fifty day moving average is $20.13 and its 200-day moving average is $21.37. The company has a market capitalization of $3.34 billion, a PE ratio of 7.32, a P/E/G ratio of 1.20 and a beta of 1.68. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35. Liberty Energy has a one year low of $16.69 and a one year high of $24.75.

Liberty Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.08 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.60%. This is an increase from Liberty Energy’s previous quarterly dividend of $0.07. Liberty Energy’s dividend payout ratio (DPR) is currently 10.22%.

Insiders Place Their Bets

In other Liberty Energy news, CFO Michael Stock sold 5,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 745,207 shares in the company, valued at approximately $15,656,799.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Michael Stock sold 5,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 745,207 shares of the company’s stock, valued at approximately $15,656,799.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $19.77, for a total value of $395,400.00. Following the completion of the transaction, the chief executive officer now directly owns 2,638,813 shares of the company’s stock, valued at approximately $52,169,333.01. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,000 shares of company stock worth $1,945,650. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Liberty Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of LBRT. Diversified Trust Co increased its stake in shares of Liberty Energy by 2.5% in the 1st quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock valued at $427,000 after buying an additional 507 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in shares of Liberty Energy by 4.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 14,262 shares of the company’s stock valued at $296,000 after buying an additional 543 shares during the period. Perigon Wealth Management LLC increased its stake in shares of Liberty Energy by 2.4% in the 1st quarter. Perigon Wealth Management LLC now owns 24,815 shares of the company’s stock valued at $514,000 after buying an additional 571 shares during the period. Andina Capital Management LLC boosted its position in shares of Liberty Energy by 3.9% in the 2nd quarter. Andina Capital Management LLC now owns 18,599 shares of the company’s stock worth $389,000 after purchasing an additional 691 shares during the last quarter. Finally, Creative Planning boosted its position in shares of Liberty Energy by 3.7% in the 3rd quarter. Creative Planning now owns 19,456 shares of the company’s stock worth $371,000 after purchasing an additional 703 shares during the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

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.