Insider Selling: Liberty Energy (NYSE:LBRT) CFO Sells $66,660.00 in Stock

Liberty Energy Inc. (NYSE:LBRT) CFO Michael Stock sold 3,333 shares of the stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $20.00, for a total transaction of $66,660.00. Following the completion of the sale, the chief financial officer directly owned 753,713 shares of the company’s stock, valued at $15,074,260. The trade was a 0.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 Thursday, October 1st, Michael Stock sold 3,333 shares of Liberty Energy stock. The stock was sold at an average price of $18.17, for a total value of $60,560.61.
• On Tuesday, September 1st, Michael Stock sold 6,666 shares of Liberty Energy stock. The shares were sold at an average price of $19.84, for a total transaction of $132,253.44.
• On Monday, August 3rd, Michael Stock sold 3,333 shares of Liberty Energy stock. The shares were sold at an average price of $17.95, for a total transaction of $59,827.35.

Liberty Energy Stock Down 3.4%

Liberty Energy stock traded down $0.69 during midday trading on Wednesday, hitting $19.43. 2,938,385 shares of the stock were exchanged, compared to its average volume of 4,260,490. Liberty Energy Inc. has a 1 year low of $11.52 and a 1 year high of $34.48. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.99 and a quick ratio of 1.75. The firm has a market cap of $3.17 billion, a P/E ratio of 26.25, a P/E/G ratio of 3.29 and a beta of 0.71. The company has a 50 day moving average price of $19.68 and a two-hundred day moving average price of $25.25.

Liberty Energy (NYSE:LBRT) last announced its earnings results on Wednesday, July 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Liberty Energy had a return on equity of 1.14% and a net margin of 2.92%.The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the company posted $0.12 EPS. Liberty Energy’s quarterly revenue was up 14.0% on a year-over-year basis. On average, sell-side analysts predict that Liberty Energy Inc. will post 0.3 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, September 4th. Liberty Energy’s dividend payout ratio is 48.65%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on LBRT shares. UBS Group lowered their price objective on Liberty Energy from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, September 30th. Barclays upgraded Liberty Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $23.00 to $27.00 in a research note on Monday, September 28th. Piper Sandler lowered their price target on shares of Liberty Energy from $34.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, August 27th. Morgan Stanley set a $32.00 price target on shares of Liberty Energy in a research report on Friday, July 24th. Finally, The Goldman Sachs Group set a $23.00 price objective on shares of Liberty Energy in a report on Friday, August 7th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $27.54.

Institutional Investors Weigh In On Liberty Energy

Hedge funds have recently made changes to their positions in the stock. Arlington Capital Management Inc. acquired a new stake in shares of Liberty Energy in the 2nd quarter valued at $3,821,000. Engineers Gate Manager LP acquired a new stake in shares of Liberty Energy during the 2nd quarter worth about $3,099,000. Squarepoint Ops LLC lifted its holdings in Liberty Energy by 23.8% during the 2nd quarter. Squarepoint Ops LLC now owns 1,051,488 shares of the company’s stock valued at $27,538,000 after purchasing an additional 201,839 shares during the last quarter. Nykredit A S bought a new position in Liberty Energy during the 2nd quarter valued at about $171,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Liberty Energy in the second quarter valued at about $534,000. Institutional investors own 98.22% of the company’s stock.

Liberty Energy Company Profile

Liberty Energy Inc is an oilfield services company that provides hydraulic fracturing and related completion services to exploration and production companies. Its operations support the development of unconventional oil and natural gas wells, primarily in North America.

The company’s services and technologies include pressure pumping, well stimulation, wireline services, proppant and logistics solutions, and digital tools designed to improve completion performance and operational efficiency.