Liberty Energy Inc. (NYSE:LBRT) CEO Christopher A. Wright Sells 2,037 Shares

Liberty Energy Inc. (NYSE:LBRT) CEO Christopher A. Wright sold 2,037 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $18.15, for a total value of $36,971.55. Following the transaction, the chief executive officer now owns 2,578,813 shares in the company, valued at approximately $46,805,455.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Liberty Energy Trading Down 5.6 %

Liberty Energy stock traded down $1.07 during trading hours on Thursday, hitting $17.93. The stock had a trading volume of 2,471,611 shares, compared to its average volume of 2,509,654. The business’s 50 day simple moving average is $19.25 and its 200-day simple moving average is $20.88. Liberty Energy Inc. has a one year low of $16.57 and a one year high of $24.75. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 8.75 and a beta of 1.70. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the business earned $0.85 EPS. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. On average, equities analysts predict that Liberty Energy Inc. will post 1.75 EPS for the current fiscal year.

Liberty Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.08 dividend. This is a boost from Liberty Energy’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.32 annualized dividend and a dividend yield of 1.78%. Liberty Energy’s payout ratio is currently 13.33%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LBRT. Wells Fargo & Company decreased their price target on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. TD Cowen cut their price target on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a report on Friday, July 19th. Royal Bank of Canada lowered their price objective on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Piper Sandler reduced their target price on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Finally, Atb Cap Markets downgraded Liberty Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.89.

Institutional Trading of Liberty Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quest Partners LLC lifted its holdings in Liberty Energy by 168.2% during the 3rd quarter. Quest Partners LLC now owns 62,979 shares of the company’s stock worth $1,202,000 after buying an additional 39,497 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Liberty Energy by 3.1% during the third quarter. Thrivent Financial for Lutherans now owns 129,833 shares of the company’s stock worth $2,479,000 after acquiring an additional 3,939 shares during the last quarter. Mutual of America Capital Management LLC increased its position in Liberty Energy by 27.2% during the 3rd quarter. Mutual of America Capital Management LLC now owns 466,411 shares of the company’s stock valued at $8,904,000 after purchasing an additional 99,722 shares during the period. Natixis Advisors LLC raised its holdings in Liberty Energy by 17.8% during the 3rd quarter. Natixis Advisors LLC now owns 24,662 shares of the company’s stock worth $471,000 after purchasing an additional 3,733 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Liberty Energy by 45.1% in the 3rd quarter. Empowered Funds LLC now owns 495,578 shares of the company’s stock worth $9,461,000 after purchasing an additional 154,070 shares during the period. 98.22% of the stock is currently owned by institutional investors and hedge funds.

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.