Liberty Energy Inc. (NYSE:LBRT) CEO Sells $36,971.55 in Stock

Liberty Energy Inc. (NYSE:LBRT) CEO Christopher A. Wright sold 2,037 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $18.15, for a total value of $36,971.55. Following the transaction, the chief executive officer now owns 2,578,813 shares in the company, valued at $46,805,455.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Liberty Energy Price Performance

Shares of LBRT opened at $17.93 on Friday. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 8.54 and a beta of 1.70. Liberty Energy Inc. has a 52 week low of $16.57 and a 52 week high of $24.75. The company has a current ratio of 1.23, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average of $19.20 and a 200-day moving average of $20.86.

Liberty Energy (NYSE:LBRT) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $1.14 billion. Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period last year, the business posted $0.85 EPS. As a group, analysts forecast that Liberty Energy Inc. will post 1.75 EPS for the current year.

Liberty Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued 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 dividend yield of 1.78%. Liberty Energy’s dividend payout ratio (DPR) is 13.33%.

Wall Street Analyst Weigh In

LBRT has been the topic of a number of research reports. TD Cowen cut their price objective on Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Friday, July 19th. Atb Cap Markets lowered Liberty Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Royal Bank of Canada lowered their price objective on Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Wells Fargo & Company lowered their price objective on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Finally, Citigroup lowered Liberty Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $25.00 to $19.00 in a research note on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Liberty Energy currently has an average rating of “Moderate Buy” and an average target price of $22.89.

Institutional Trading of Liberty Energy

Hedge funds have recently made changes to their positions in the stock. EdgeRock Capital LLC bought a new stake in shares of Liberty Energy in the 2nd quarter worth approximately $32,000. Covestor Ltd raised its stake in Liberty Energy by 96.8% during the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company’s stock valued at $33,000 after acquiring an additional 838 shares in the last quarter. GAMMA Investing LLC raised its stake in Liberty Energy by 69.2% during the 2nd 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 raised its stake 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 acquiring an additional 900 shares in the last quarter. Finally, US Bancorp DE raised its stake in Liberty Energy by 93.2% during the 3rd quarter. US Bancorp DE now owns 4,180 shares of the company’s stock valued at $80,000 after acquiring an additional 2,016 shares in the last quarter. Institutional investors own 98.22% of the company’s stock.

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.