Liberty Energy (NYSE:LBRT) Releases Earnings Results, Misses Estimates By $0.10 EPS

Liberty Energy (NYSE:LBRT) announced its quarterly earnings data on Wednesday. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.10), Briefing.com reports. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the company earned $0.85 earnings per share. The company’s revenue was down 6.4% on a year-over-year basis.

Liberty Energy Trading Up 1.3 %

LBRT opened at $20.06 on Thursday. The firm’s 50 day moving average is $20.12 and its 200-day moving average is $21.36. 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. The firm has a market capitalization of $3.34 billion, a P/E ratio of 7.32, a P/E/G ratio of 1.20 and a beta of 1.68.

Liberty Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.08 dividend. This is an increase from Liberty Energy’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, December 6th. This represents a $0.32 annualized dividend and a yield of 1.60%. Liberty Energy’s dividend payout ratio (DPR) is 10.22%.

Analysts Set New Price Targets

LBRT has been the topic of a number of research analyst reports. Barclays decreased their price target on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday. Citigroup reduced their target price on Liberty Energy from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Bank of America cut their price objective on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Stifel Nicolaus decreased their target price on Liberty Energy from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, October 11th. Finally, TD Cowen dropped their target price on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research report on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Insider Activity

In other news, CFO Michael Stock sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $19.23, for a total transaction of $288,450.00. Following the completion of the sale, the chief financial officer now directly owns 730,207 shares in the company, valued at $14,041,880.61. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 on Wednesday, October 2nd. The shares were sold at an average price of $19.77, for a total transaction of $395,400.00. Following the transaction, the chief executive officer now directly owns 2,638,813 shares in the company, valued at $52,169,333.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $288,450.00. Following the transaction, the chief financial officer now directly 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. Over the last three months, insiders sold 95,000 shares of company stock worth $1,945,650. 3.60% of the stock is currently owned by company insiders.

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.