Insider Selling: Liberty Energy (NYSE:LBRT) CFO Sells $392,760.72 in Stock

Liberty Energy Inc. (NYSE:LBRT) CFO Michael Stock sold 13,332 shares of Liberty Energy stock in a transaction on Monday, June 1st. The shares were sold at an average price of $29.46, for a total value of $392,760.72. Following the sale, the chief financial officer directly owned 787,043 shares of the company’s stock, valued at $23,186,286.78. This represents a 1.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Stock also recently made the following trade(s):

• On Tuesday, June 2nd, Michael Stock sold 3,333 shares of Liberty Energy stock. The shares were sold at an average price of $31.00, for a total value of $103,323.00.
• On Wednesday, May 20th, Michael Stock sold 19,998 shares of Liberty Energy stock. The shares were sold at an average price of $33.48, for a total value of $669,533.04.

Liberty Energy Trading Up 1.8%

NYSE LBRT opened at $31.61 on Friday. The stock’s 50-day simple moving average is $30.49 and its two-hundred day simple moving average is $25.35. Liberty Energy Inc. has a twelve month low of $9.90 and a twelve month high of $34.48. The company has a quick ratio of 1.97, a current ratio of 2.21 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 34.74, a PEG ratio of 9.28 and a beta of 0.51.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.19. Liberty Energy had a return on equity of 1.41% and a net margin of 3.71%.The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $954.71 million. During the same quarter last year, the business posted $0.04 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Research analysts forecast that Liberty Energy Inc. will post 0.07 EPS for the current fiscal year.

Liberty Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be given a dividend of $0.09 per share. The ex-dividend date is Thursday, June 4th. This represents a $0.36 dividend on an annualized basis and a yield of 1.1%. Liberty Energy’s dividend payout ratio (DPR) is presently 39.56%.

Institutional Trading of Liberty Energy

Large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its holdings in shares of Liberty Energy by 5.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,855 shares of the company’s stock valued at $226,000 after purchasing an additional 375 shares during the last quarter. Root Financial Partners LLC lifted its holdings in shares of Liberty Energy by 79.6% in the 1st quarter. Root Financial Partners LLC now owns 914 shares of the company’s stock valued at $26,000 after acquiring an additional 405 shares during the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of Liberty Energy by 2.0% in the 4th quarter. Maryland State Retirement & Pension System now owns 23,760 shares of the company’s stock valued at $439,000 after acquiring an additional 477 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Liberty Energy by 2.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 22,583 shares of the company’s stock valued at $417,000 after acquiring an additional 500 shares during the last quarter. Finally, First Horizon Corp lifted its holdings in shares of Liberty Energy by 58.2% in the 4th quarter. First Horizon Corp now owns 1,620 shares of the company’s stock valued at $30,000 after acquiring an additional 596 shares during the last quarter. 98.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Stifel Nicolaus raised their price target on Liberty Energy from $28.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Citigroup raised their price target on Liberty Energy from $21.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Wall Street Zen upgraded Liberty Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Energy in a report on Friday, May 1st. Finally, UBS Group reiterated a “buy” rating on shares of Liberty Energy in a report on Tuesday, May 26th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Liberty Energy has an average rating of “Moderate Buy” and an average price target of $32.18.

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. As of as of December 31, 2023, the company owned and operated a fleet of approximately 40 active hydraulic fracturing; and two sand mines in the Permian Basin.