Insider Selling: Liberty Energy Inc. (NYSE:LBRT) CEO Sells 20,000 Shares of Stock

Liberty Energy Inc. (NYSE:LBRT) CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $21.64, for a total value of $432,800.00. Following the completion of the sale, the chief executive officer now directly owns 2,818,814 shares of the company’s stock, valued at approximately $60,999,134.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Liberty Energy Stock Up 1.5 %

LBRT opened at $21.64 on Friday. Liberty Energy Inc. has a 52 week low of $11.62 and a 52 week high of $23.31. The business has a 50 day moving average price of $21.55 and a two-hundred day moving average price of $19.99. 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 company has a market cap of $3.61 billion, a PE ratio of 7.90, a P/E/G ratio of 1.08 and a beta of 1.83.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings results on Thursday, April 18th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.06). Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the company earned $0.90 EPS. Liberty Energy’s revenue for the quarter was down 12.8% compared to the same quarter last year. As a group, research analysts anticipate that Liberty Energy Inc. will post 2.52 EPS for the current year.

Liberty Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Wednesday, June 5th. Liberty Energy’s dividend payout ratio (DPR) is presently 10.22%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LBRT. Wells Fargo & Company raised their price objective on shares of Liberty Energy from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Bank of America boosted their price objective on Liberty Energy from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Monday, April 15th. Barclays upped their target price on shares of Liberty Energy from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Piper Sandler lifted their target price on Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $24.00 price target on shares of Liberty Energy in a report on Monday, April 22nd. Five research analysts have rated the stock with a hold rating and five have issued 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 $24.30.

Institutional Trading of Liberty Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC lifted its position in Liberty Energy by 59.7% in the third quarter. CWM LLC now owns 3,166 shares of the company’s stock valued at $59,000 after purchasing an additional 1,183 shares during the period. Maryland State Retirement & Pension System acquired a new position in Liberty Energy during the third quarter worth $1,058,000. Dakota Wealth Management purchased a new position in Liberty Energy in the third quarter worth $223,000. Raymond James & Associates lifted its holdings in Liberty Energy by 3.1% in the third quarter. Raymond James & Associates now owns 65,178 shares of the company’s stock valued at $1,207,000 after acquiring an additional 1,943 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Liberty Energy by 53.1% in the third quarter. Bank of New York Mellon Corp now owns 2,244,480 shares of the company’s stock valued at $41,568,000 after acquiring an additional 778,111 shares during the period. Hedge funds and other 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.