Liberty Energy (NYSE:LBRT) Posts Earnings Results, Misses Expectations By $0.06 EPS

Liberty Energy (NYSE:LBRT) issued its quarterly earnings results on Wednesday. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06), Briefing.com reports. Liberty Energy had a net margin of 11.72% and a return on equity of 32.28%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm posted $0.90 earnings per share. Liberty Energy’s revenue was down 12.8% compared to the same quarter last year.

Liberty Energy Trading Down 0.3 %

Shares of Liberty Energy stock opened at $21.52 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.49 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 6.81, a price-to-earnings-growth ratio of 1.05 and a beta of 1.85. The business has a fifty day simple moving average of $21.09 and a 200-day simple moving average of $19.63. Liberty Energy has a fifty-two week low of $11.62 and a fifty-two week high of $23.23.

Liberty Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be issued a $0.07 dividend. The ex-dividend date is Thursday, June 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.30%. Liberty Energy’s dividend payout ratio (DPR) is 8.86%.

Analyst Ratings Changes

A number of research analysts recently issued reports on LBRT shares. Wells Fargo & Company reduced their price objective on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, December 21st. Morgan Stanley boosted their price objective on Liberty Energy from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Piper Sandler boosted their price objective on Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Finally, Bank of America boosted their price objective on Liberty Energy from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Monday. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.67.

Insider Activity

In other news, CAO Ryan T. Gosney sold 6,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total value of $123,000.00. Following the completion of the sale, the chief accounting officer now owns 140,706 shares in the company, valued at $2,884,473. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Ryan T. Gosney sold 6,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total value of $123,000.00. Following the completion of the sale, the chief accounting officer now owns 140,706 shares in the company, valued at $2,884,473. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William F. Kimble sold 12,459 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $21.55, for a total value of $268,491.45. Following the sale, the director now directly owns 69,963 shares in the company, valued at $1,507,702.65. The disclosure for this sale can be found here. Insiders sold a total of 98,459 shares of company stock worth $2,077,491 over the last 90 days. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Liberty Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its position in shares of Liberty Energy by 27.7% during the fourth 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 during the period. Rhumbline Advisers raised its position in Liberty Energy by 0.7% during the first quarter. Rhumbline Advisers now owns 121,187 shares of the company’s stock valued at $1,796,000 after buying an additional 863 shares during the period. Tower Research Capital LLC TRC raised its position in Liberty Energy by 42.7% during the third quarter. Tower Research Capital LLC TRC now owns 5,307 shares of the company’s stock valued at $98,000 after buying an additional 1,589 shares during the period. Mercer Global Advisors Inc. ADV raised its position in Liberty Energy by 14.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 12,564 shares of the company’s stock valued at $168,000 after buying an additional 1,616 shares during the period. Finally, US Bancorp DE raised its position in Liberty Energy by 71.4% during the fourth quarter. US Bancorp DE now owns 3,896 shares of the company’s stock valued at $71,000 after buying an additional 1,623 shares during the period. 98.22% of the stock is owned by institutional investors and hedge funds.

Liberty Energy Company Profile

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.