Liberty Energy Inc. to Post FY2024 Earnings of $2.14 Per Share, Zacks Research Forecasts (NYSE:LBRT)

Liberty Energy Inc. (NYSE:LBRT) – Research analysts at Zacks Research upped their FY2024 EPS estimates for shares of Liberty Energy in a note issued to investors on Monday, September 16th. Zacks Research analyst R. Department now anticipates that the company will post earnings of $2.14 per share for the year, up from their prior forecast of $2.10. The consensus estimate for Liberty Energy’s current full-year earnings is $2.17 per share. Zacks Research also issued estimates for Liberty Energy’s Q4 2024 earnings at $0.46 EPS, Q1 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.69 EPS, Q4 2025 earnings at $0.51 EPS and Q2 2026 earnings at $0.74 EPS.

A number of other equities analysts have also recently commented on the company. Piper Sandler lowered their price target on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Citigroup upgraded Liberty Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $24.00 to $32.00 in a research report on Wednesday, May 29th. 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. TD Cowen lowered their target price on Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a report on Friday, July 19th. Finally, Bank of America cut their price target on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Liberty Energy has a consensus rating of “Moderate Buy” and a consensus target price of $24.78.

Liberty Energy Stock Down 1.2 %

Shares of LBRT opened at $20.52 on Thursday. The firm has a 50 day simple moving average of $20.79 and a two-hundred day simple 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 has a one year low of $16.33 and a one year high of $24.75. The company has a market cap of $3.42 billion, a P/E ratio of 7.49, a P/E/G ratio of 1.11 and a beta of 1.69.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the business posted $0.87 earnings per share. Liberty Energy’s revenue was down 2.9% compared to the same quarter last year.

Liberty Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Friday, September 6th. Liberty Energy’s dividend payout ratio (DPR) is presently 10.22%.

Insiders Place Their Bets

In other news, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $19.91, for a total value of $398,200.00. Following the sale, the chief executive officer now owns 2,678,813 shares of the company’s stock, valued at $53,335,166.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction on Monday, September 16th. The stock was sold at an average price of $19.91, for a total value of $398,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,678,813 shares in the company, valued at $53,335,166.83. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael Stock sold 4,374 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $21.01, for a total value of $91,897.74. Following the sale, the chief financial officer now owns 785,207 shares in the company, valued at $16,497,199.07. The disclosure for this sale can be found here. Insiders sold 95,000 shares of company stock worth $1,979,181 over the last quarter. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of Liberty Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. EdgeRock Capital LLC purchased a new position in shares of Liberty Energy during the second quarter worth about $32,000. GAMMA Investing LLC lifted its position in Liberty Energy by 69.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock worth $36,000 after buying an additional 713 shares during the last quarter. Principal Securities Inc. bought a new stake in Liberty Energy in the 4th quarter worth approximately $39,000. nVerses Capital LLC boosted its stake in Liberty Energy by 45.0% in the second quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock worth $61,000 after buying an additional 900 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Liberty Energy by 70.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock worth $53,000 after acquiring an additional 1,206 shares in the last quarter. Institutional investors own 98.22% of the company’s stock.

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.