Liberty Energy (NYSE:LBRT) Announces Quarterly Earnings Results

Liberty Energy (NYSE:LBRT) issued its quarterly earnings results on Wednesday. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.06), Zacks reports. Liberty Energy had a return on equity of 14.37% and a net margin of 7.32%.

Liberty Energy Trading Down 7.5 %

NYSE LBRT opened at $19.12 on Friday. The firm’s fifty day moving average is $19.84 and its two-hundred day moving average is $19.79. Liberty Energy has a one year low of $16.57 and a one year high of $24.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 1.23. The firm has a market cap of $3.12 billion, a PE ratio of 10.22 and a beta of 1.66.

Liberty Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, March 6th. Liberty Energy’s dividend payout ratio is currently 17.11%.

Insider Transactions at Liberty Energy

In other news, CEO Christopher A. Wright sold 2,037 shares of Liberty Energy 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 sale, the chief executive officer now owns 2,578,813 shares of the company’s stock, valued at $46,805,455.95. The trade was a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Stock sold 5,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $18.45, for a total transaction of $92,250.00. Following the transaction, the chief financial officer now directly owns 720,207 shares of the company’s stock, valued at $13,287,819.15. This represents a 0.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,973 shares of company stock worth $1,500,285. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

LBRT has been the subject of several research reports. Wells Fargo & Company dropped their price target on shares of Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Citigroup boosted their price objective on Liberty Energy from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Seaport Res Ptn upgraded shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a report on Sunday, January 5th. TD Cowen dropped their target price on Liberty Energy from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, 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 report on Friday, October 18th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Liberty Energy has a consensus rating of “Moderate Buy” and a consensus target price of $22.20.

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.