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

Liberty Energy (NYSE:LBRT) issued its quarterly earnings data on Thursday. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.06), Briefing.com reports. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. Liberty Energy had a net margin of 10.43% and a return on equity of 26.46%. Liberty Energy’s revenue was down 12.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 EPS.

Liberty Energy Trading Up 1.2 %

Shares of LBRT stock opened at $22.37 on Friday. Liberty Energy has a 1 year low of $11.62 and a 1 year high of $23.31. The firm’s fifty day simple moving average is $21.20 and its 200 day simple moving average is $19.68. The firm has a market capitalization of $3.73 billion, a P/E ratio of 8.16, a price-to-earnings-growth ratio of 1.08 and a beta of 1.85. The company has a current ratio of 1.48, a quick ratio of 1.17 and a debt-to-equity ratio of 0.09.

Liberty Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Wednesday, June 5th. Liberty Energy’s dividend payout ratio (DPR) is currently 10.22%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. TD Cowen raised their price objective on shares of Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a research report on Friday. Bank of America lifted their price target on shares of Liberty Energy from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. Barclays lifted their price target on shares of Liberty Energy from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday. Piper Sandler lifted their price target on shares of Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Finally, Morgan Stanley lifted their price target on shares of Liberty Energy from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.30.

Insider Buying and Selling

In related news, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $20.27, for a total transaction of $405,400.00. Following the transaction, the chief executive officer now owns 2,830,402 shares of the company’s stock, valued at $57,372,248.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction on Monday, March 18th. The shares were sold at an average price of $20.27, for a total transaction of $405,400.00. Following the sale, the chief executive officer now owns 2,830,402 shares in the company, valued at $57,372,248.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William F. Kimble sold 12,459 shares of Liberty Energy stock in a transaction on Friday, March 8th. The stock was sold at an average price of $21.55, for a total transaction of $268,491.45. Following the sale, the director now owns 69,963 shares in the company, valued at approximately $1,507,702.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,459 shares of company stock valued at $2,077,491. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Liberty Energy

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Liberty Energy by 20.0% in the 3rd quarter. Vanguard Group Inc. now owns 16,972,147 shares of the company’s stock valued at $215,207,000 after purchasing an additional 2,831,183 shares in the last quarter. BlackRock Inc. lifted its position in Liberty Energy by 10.3% during the 2nd quarter. BlackRock Inc. now owns 14,720,744 shares of the company’s stock worth $196,816,000 after buying an additional 1,376,187 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Liberty Energy by 5.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,553,932 shares of the company’s stock worth $172,948,000 after buying an additional 734,764 shares in the last quarter. Macquarie Group Ltd. lifted its position in Liberty Energy by 181.5% during the 1st quarter. Macquarie Group Ltd. now owns 8,085,410 shares of the company’s stock worth $103,574,000 after buying an additional 5,213,132 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Liberty Energy by 47.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,528,916 shares of the company’s stock worth $96,444,000 after purchasing an additional 2,417,129 shares during the last quarter. Institutional investors and hedge funds 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.