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

Liberty Energy Inc. (NYSE:LBRT) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders of record on Thursday, March 6th will be paid a dividend of 0.08 per share on Thursday, March 20th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.44%.

Liberty Energy has a payout ratio of 20.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Liberty Energy to earn $0.98 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 32.7%.

Liberty Energy Stock Down 2.0 %

Shares of NYSE LBRT traded down $0.44 during mid-day trading on Wednesday, reaching $22.18. The company had a trading volume of 2,689,263 shares, compared to its average volume of 2,809,387. Liberty Energy 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 market cap of $3.62 billion, a P/E ratio of 10.56 and a beta of 1.66. The firm has a 50 day simple moving average of $19.27 and a two-hundred day simple moving average of $19.74.

Analysts Set New Price Targets

LBRT has been the subject of several recent analyst reports. TD Cowen reduced their target price on shares of Liberty Energy from $18.00 to $16.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. The Goldman Sachs Group started coverage on shares of Liberty Energy in a report on Friday, December 13th. They set a “neutral” rating and a $19.00 price target for the company. Citigroup boosted their target price on shares of Liberty Energy from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Evercore ISI upgraded shares of Liberty Energy to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Stifel Nicolaus lowered their target price on shares of Liberty Energy from $25.00 to $23.00 and set a “buy” rating for the company in a report on Monday, January 6th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.20.

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, CEO Christopher A. Wright sold 2,037 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $18.15, for a total value of $36,971.55. Following the completion of the sale, the chief executive officer now directly owns 2,578,813 shares of the company’s stock, valued at approximately $46,805,455.95. This represents a 0.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Stock sold 5,000 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.00, for a total transaction of $115,000.00. Following the completion of the sale, the chief financial officer now directly owns 675,207 shares of the company’s stock, valued at $15,529,761. The trade was a 0.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,973 shares of company stock worth $1,586,335 over the last 90 days. Insiders own 3.70% 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.