Insider Selling: Liberty Energy (NYSE:LBRT) CFO Sells $258,874.11 in Stock

Liberty Energy Inc. (NYSE:LBRT) CFO Michael Stock sold 9,999 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $25.89, for a total transaction of $258,874.11. Following the transaction, the chief financial officer directly owned 773,711 shares of the company’s stock, valued at approximately $20,031,377.79. This represents a 1.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 1st, Michael Stock sold 13,332 shares of Liberty Energy stock. The shares were sold at an average price of $29.46, for a total transaction of $392,760.72.
• 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 transaction of $103,323.00.
• On Wednesday, May 20th, Michael Stock sold 19,998 shares of Liberty Energy stock. The stock was sold at an average price of $33.48, for a total transaction of $669,533.04.

Liberty Energy Price Performance

Shares of Liberty Energy stock traded down $1.89 during trading on Wednesday, hitting $24.30. The stock had a trading volume of 3,446,611 shares, compared to its average volume of 4,251,960. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of 26.71, a P/E/G ratio of 2.24 and a beta of 0.51. Liberty Energy Inc. has a 12 month low of $9.90 and a 12 month high of $34.48. The business’s 50-day moving average is $30.28 and its 200 day moving average is $26.55. The company has a current ratio of 2.21, a quick ratio of 1.97 and a debt-to-equity ratio of 0.75.

Liberty Energy (NYSE:LBRT) last announced its earnings results on Wednesday, April 22nd. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.19. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $954.71 million. Liberty Energy had a return on equity of 1.41% and a net margin of 3.71%.The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.04 EPS. As a group, sell-side analysts anticipate that Liberty Energy Inc. will post 0.25 earnings per share for the current year.

Liberty Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, June 4th. Liberty Energy’s payout ratio is currently 39.56%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LBRT shares. Morgan Stanley set a $36.00 price objective on shares of Liberty Energy in a research report on Monday, April 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Energy in a research report on Friday, May 1st. Piper Sandler raised their price target on Liberty Energy from $32.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Stifel Nicolaus lifted their price target on Liberty Energy from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Finally, UBS Group reiterated a “buy” rating on shares of Liberty Energy in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.18.

Institutional Investors Weigh In On Liberty Energy

A number of institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its holdings in shares of Liberty Energy by 5.0% in the first quarter. PNC Financial Services Group Inc. now owns 7,855 shares of the company’s stock worth $226,000 after buying an additional 375 shares during the period. Root Financial Partners LLC boosted its holdings in Liberty Energy by 79.6% during 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 period. Maryland State Retirement & Pension System boosted its holdings in Liberty Energy by 2.0% during 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 period. Nisa Investment Advisors LLC grew its position in Liberty Energy by 2.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 22,583 shares of the company’s stock worth $417,000 after acquiring an additional 500 shares during the last quarter. Finally, First Horizon Corp increased its stake in Liberty Energy by 58.2% in the 4th quarter. First Horizon Corp now owns 1,620 shares of the company’s stock worth $30,000 after purchasing an additional 596 shares during the period. Hedge funds and other institutional investors own 98.22% 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. 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.