Liberty Energy (NYSE:LBRT) Announces Earnings Results

Liberty Energy (NYSE:LBRT) released its earnings results on Wednesday. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.10), Briefing.com reports. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period last year, the business posted $0.85 earnings per share.

Liberty Energy Stock Down 8.9 %

NYSE:LBRT opened at $18.30 on Friday. Liberty Energy has a 1 year low of $16.69 and a 1 year high of $24.75. The stock has a 50-day moving average price of $20.08 and a two-hundred day moving average price of $21.34. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 6.68, a PEG ratio of 1.20 and a beta of 1.68. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.75%. The ex-dividend date is Friday, December 6th. This is an increase from Liberty Energy’s previous quarterly dividend of $0.07. Liberty Energy’s dividend payout ratio (DPR) is presently 11.68%.

Insiders Place Their Bets

In related news, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction that occurred 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 approximately $53,335,166.83. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Liberty Energy news, CFO Michael Stock sold 5,000 shares of Liberty Energy stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $21.01, for a total value of $105,050.00. Following the sale, the chief financial officer now owns 745,207 shares of the company’s stock, valued at $15,656,799.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $19.91, for a total value of $398,200.00. Following the transaction, the chief executive officer now directly owns 2,678,813 shares of the company’s stock, valued at $53,335,166.83. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,000 shares of company stock worth $1,945,650 over the last ninety days. 3.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

LBRT has been the topic of several recent research reports. Piper Sandler decreased their price target on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. TD Cowen dropped their price target on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Friday, July 19th. Barclays cut their price objective on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday. Bank of America dropped their target price on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Finally, Stifel Nicolaus cut their price target 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. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.