Liberty Energy Inc. (NYSE:LBRT) Insider Sells $462,000.00 in Stock

Liberty Energy Inc. (NYSE:LBRT) insider R Sean Elliott sold 20,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $23.10, for a total transaction of $462,000.00. Following the sale, the insider now owns 259,108 shares of the company’s stock, valued at $5,985,394.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Liberty Energy Price Performance

Shares of NYSE:LBRT traded down $1.08 during midday trading on Tuesday, reaching $22.01. 2,805,834 shares of the company’s stock were exchanged, compared to its average volume of 2,944,129. The firm has a market capitalization of $3.67 billion, a PE ratio of 8.04, a price-to-earnings-growth ratio of 1.16 and a beta of 1.85. Liberty Energy Inc. has a 12 month low of $11.62 and a 12 month high of $23.31. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.48. The company’s 50 day simple moving average is $21.50 and its two-hundred day simple moving average is $19.93.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Thursday, April 18th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.06). Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. Equities research analysts expect that Liberty Energy Inc. will post 2.53 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be given a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $0.28 annualized dividend and a dividend yield of 1.27%. Liberty Energy’s dividend payout ratio is currently 10.22%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LBRT. Barclays lifted their price objective on Liberty Energy from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. TD Cowen increased their price objective on Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Royal Bank of Canada boosted their target price on shares of Liberty Energy from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Wells Fargo & Company increased their price target on shares of Liberty Energy from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Bank of America boosted their price objective on shares of Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Liberty Energy currently has an average rating of “Moderate Buy” and an average price target of $24.30.

Institutional Investors Weigh In On Liberty Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EdgeRock Capital LLC acquired a new stake in Liberty Energy in the fourth quarter worth $27,000. Principal Securities Inc. acquired a new stake in Liberty Energy during the 4th quarter worth $39,000. Quadrant Capital Group LLC grew its position in shares of Liberty Energy by 70.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock valued at $53,000 after purchasing an additional 1,206 shares during the period. CWM LLC increased its stake in Liberty Energy by 59.7% during the 3rd quarter. CWM LLC now owns 3,166 shares of the company’s stock worth $59,000 after purchasing an additional 1,183 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Liberty Energy by 27.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock worth $59,000 after purchasing an additional 709 shares in the last quarter. 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.