Liberty Energy Inc. (NYSE:LBRT) Declares Quarterly Dividend of $0.08

Liberty Energy Inc. (NYSE:LBRT) announced a quarterly dividend on Tuesday, October 15th, Wall Street Journal reports. Stockholders of record on Friday, December 6th will be paid a dividend of 0.08 per share on Friday, December 20th. This represents a $0.32 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Friday, December 6th. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07.

Liberty Energy has raised its dividend payment by an average of 63.9% per year over the last three years. Liberty Energy has a payout ratio of 12.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Liberty Energy to earn $2.32 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 12.1%.

Liberty Energy Trading Up 1.3 %

LBRT opened at $20.06 on Thursday. The stock’s fifty day moving average is $20.12 and its two-hundred day moving average is $21.36. The company has a market capitalization of $3.34 billion, a P/E ratio of 7.32, a PEG ratio of 1.20 and a beta of 1.68. Liberty Energy has a 52 week low of $16.69 and a 52 week high of $24.75. The company has a quick ratio of 1.07, a current ratio of 1.35 and a debt-to-equity ratio of 0.17.

Liberty Energy (NYSE:LBRT) last announced its earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.10). The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The firm’s revenue was down 6.4% compared to the same quarter last year. During the same period last year, the business posted $0.85 EPS. Analysts forecast that Liberty Energy will post 2.14 earnings per share for the current year.

Wall Street Analyst Weigh In

LBRT has been the topic of several recent research reports. Stifel Nicolaus dropped their target price on Liberty Energy from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Barclays reduced their target price on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday. Piper Sandler reduced their target price on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Bank of America reduced their target price on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Finally, Citigroup reduced their target price on Liberty Energy from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Insider Transactions at Liberty Energy

In other news, CFO Michael Stock sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $19.23, for a total transaction of $288,450.00. Following the transaction, the chief financial officer now directly owns 730,207 shares in the company, valued at $14,041,880.61. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $19.77, for a total transaction of $395,400.00. Following the completion of the transaction, the chief executive officer now directly owns 2,638,813 shares in the company, valued at $52,169,333.01. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael Stock sold 15,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $19.23, for a total value of $288,450.00. Following the transaction, the chief financial officer now owns 730,207 shares of the company’s stock, valued at approximately $14,041,880.61. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 95,000 shares of company stock worth $1,945,650 in the last ninety days. Insiders own 3.60% 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.