Liberty Energy (NYSE:LBRT) Releases Earnings Results, Misses Expectations By $0.06 EPS

Liberty Energy (NYSE:LBRT) issued its earnings results on Wednesday. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06), Briefing.com reports. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. Liberty Energy had a net margin of 11.72% and a return on equity of 32.28%. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 EPS.

Liberty Energy Price Performance

NYSE LBRT opened at $21.52 on Thursday. Liberty Energy has a 52 week low of $11.62 and a 52 week high of $23.23. The company has a current ratio of 1.49, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 6.81, a price-to-earnings-growth ratio of 1.05 and a beta of 1.85. The company has a 50-day moving average price of $21.09 and a two-hundred day moving average price of $19.63.

Liberty Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.30%. The ex-dividend date is Thursday, June 6th. Liberty Energy’s dividend payout ratio (DPR) is 8.86%.

Insiders Place Their Bets

In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $22.66, for a total value of $453,200.00. Following the completion of the transaction, the chief executive officer now owns 2,858,814 shares in the company, valued at approximately $64,780,725.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $22.66, for a total value of $453,200.00. Following the completion of the transaction, the chief executive officer now owns 2,858,814 shares in the company, valued at approximately $64,780,725.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Ryan T. Gosney sold 6,000 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total transaction of $123,000.00. Following the completion of the transaction, the chief accounting officer now owns 140,706 shares of the company’s stock, valued at approximately $2,884,473. The disclosure for this sale can be found here. In the last 90 days, insiders sold 98,459 shares of company stock worth $2,077,491. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Liberty Energy by 24.5% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 49,800 shares of the company’s stock valued at $903,000 after acquiring an additional 9,800 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Liberty Energy by 23.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 20,595 shares of the company’s stock valued at $374,000 after acquiring an additional 3,864 shares in the last quarter. Horizon Kinetics Asset Management LLC bought a new position in shares of Liberty Energy in the fourth quarter valued at approximately $398,000. Barclays PLC boosted its holdings in shares of Liberty Energy by 189.8% in the fourth quarter. Barclays PLC now owns 276,966 shares of the company’s stock valued at $5,024,000 after acquiring an additional 181,394 shares in the last quarter. Finally, West Tower Group LLC bought a new position in shares of Liberty Energy in the fourth quarter valued at approximately $56,000. 98.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LBRT shares. Wells Fargo & Company cut their target price on shares of Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, December 21st. Piper Sandler upped their target price on shares of Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Bank of America increased their price objective on shares of Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Morgan Stanley increased their price objective on shares of Liberty Energy from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Liberty Energy presently has an average rating of “Moderate Buy” and a consensus target price of $23.67.

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.