Liberty Energy (NYSE:LBRT) Trading Down 2.6%

Liberty Energy Inc. (NYSE:LBRT)’s share price dropped 2.6% on Thursday . The company traded as low as $19.27 and last traded at $19.32. Approximately 59,612 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 2,497,049 shares. The stock had previously closed at $19.83.

Analyst Upgrades and Downgrades

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

Liberty Energy Trading Down 4.3 %

The stock has a 50 day moving average of $20.71 and a 200 day moving average of $21.43. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 1.07. The firm has a market cap of $3.14 billion, a P/E ratio of 7.24, a PEG ratio of 1.24 and a beta of 1.68.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. The firm had revenue of $1.16 billion for 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 company’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.87 EPS. As a group, equities research analysts predict that Liberty Energy Inc. will post 2.18 EPS for the current year.

Liberty Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders 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 dividend yield of 1.48%. Liberty Energy’s payout ratio is 10.22%.

Insider Buying and Selling at Liberty Energy

In related news, CFO Michael Stock sold 15,626 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $20.82, for a total transaction of $325,333.32. Following the completion of the sale, the chief financial officer now directly owns 789,581 shares in the company, valued at approximately $16,439,076.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $20.26, for a total value of $405,200.00. Following the completion of the sale, the chief executive officer now owns 2,758,813 shares in the company, valued at approximately $55,893,551.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Michael Stock sold 15,626 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $20.82, for a total value of $325,333.32. Following the completion of the sale, the chief financial officer now directly owns 789,581 shares of the company’s stock, valued at approximately $16,439,076.42. The disclosure for this sale can be found here. Insiders sold a total of 100,000 shares of company stock worth $2,084,231 over the last three months. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Liberty Energy

Institutional investors have recently bought and sold shares of the stock. EdgeRock Capital LLC bought a new position in Liberty Energy in the second quarter worth $32,000. GAMMA Investing LLC increased its holdings in shares of Liberty Energy by 69.2% during the second quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock valued at $36,000 after acquiring an additional 713 shares in the last quarter. nVerses Capital LLC grew its position in Liberty Energy by 45.0% during the 2nd quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock valued at $61,000 after purchasing an additional 900 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Liberty Energy by 27.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after purchasing an additional 709 shares in the last quarter. Finally, Lindbrook Capital LLC raised its holdings in Liberty Energy by 54.6% in the first quarter. Lindbrook Capital LLC now owns 3,393 shares of the company’s stock worth $70,000 after buying an additional 1,199 shares during the last quarter. 98.22% of the stock is owned by institutional investors.

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.