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

Liberty Energy (NYSE:LBRT) released its quarterly earnings results on Wednesday. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.06), Briefing.com reports. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate 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 firm earned $0.90 earnings per share.

Liberty Energy Price Performance

Liberty Energy stock opened at $21.52 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.17 and a current ratio of 1.49. Liberty Energy has a 52 week low of $11.62 and a 52 week high of $23.23. The stock has a market capitalization of $3.59 billion, a P/E ratio of 6.81, a price-to-earnings-growth ratio of 1.05 and a beta of 1.85. The stock has a fifty day moving average of $21.09 and a 200-day moving average of $19.63.

Liberty Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.30%. Liberty Energy’s dividend payout ratio (DPR) is currently 8.86%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LBRT shares. Wells Fargo & Company reduced their price target on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, December 21st. Bank of America lifted their price objective on Liberty Energy from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Monday. Morgan Stanley lifted their price objective on Liberty Energy from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Finally, Piper Sandler lifted their price objective on Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.67.

Insider Transactions at Liberty Energy

In other news, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $22.66, for a total transaction of $453,200.00. Following the completion of the transaction, the chief executive officer now owns 2,858,814 shares of the company’s stock, valued at approximately $64,780,725.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Liberty Energy news, Director William F. Kimble sold 12,459 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $21.55, for a total value of $268,491.45. Following the completion of the transaction, the director now owns 69,963 shares of the company’s stock, valued at approximately $1,507,702.65. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was 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 directly owns 2,858,814 shares of the company’s stock, valued at approximately $64,780,725.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,459 shares of company stock valued at $2,077,491. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Liberty Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP increased its holdings in Liberty Energy by 111.0% in the 2nd quarter. Quarry LP now owns 3,965 shares of the company’s stock worth $53,000 after purchasing an additional 2,086 shares in the last quarter. KBC Group NV bought a new stake in shares of Liberty Energy in the 4th quarter valued at about $55,000. West Tower Group LLC bought a new stake in shares of Liberty Energy in the 4th quarter valued at about $56,000. PNC Financial Services Group Inc. grew its position in shares of Liberty Energy by 27.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after buying an additional 709 shares during the last quarter. Finally, US Bancorp DE grew its position in shares of Liberty Energy by 71.4% in the 4th quarter. US Bancorp DE now owns 3,896 shares of the company’s stock valued at $71,000 after buying an additional 1,623 shares during the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

Liberty Energy Company Profile

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.