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

Liberty Energy (NYSE:LBRT) posted its quarterly earnings data on Wednesday. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.06), Briefing.com reports. The company had revenue of $1.10 billion during 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%. The company’s revenue was down 12.8% on a year-over-year basis. During the same quarter last year, the business earned $0.90 earnings per share.

Liberty Energy Trading Up 1.3 %

NYSE LBRT opened at $22.38 on Friday. Liberty Energy has a twelve month low of $11.62 and a twelve month high of $23.31. The firm’s 50 day moving average price is $21.20 and its two-hundred day moving average price is $19.68. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 8.16, a PEG ratio of 1.08 and a beta of 1.85. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.17 and a current ratio of 1.48.

Liberty Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, June 5th. Liberty Energy’s payout ratio is 10.22%.

Analyst Ratings Changes

Several research analysts have recently issued reports on LBRT shares. Piper Sandler increased their price objective on shares of Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Bank of America lifted their price target on shares of Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. TD Cowen lifted their price target on shares of Liberty Energy from $19.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday. Royal Bank of Canada lifted their price target on shares of Liberty Energy from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Morgan Stanley lifted their price target on shares of Liberty Energy from $23.00 to $24.00 and gave the stock 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 given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.30.

Insider Transactions at Liberty Energy

In other news, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction that occurred 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 directly owns 2,830,402 shares in the company, valued at $57,372,248.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director William F. Kimble sold 12,459 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $21.55, for a total value of $268,491.45. Following the transaction, the director now directly owns 69,963 shares in the company, valued at $1,507,702.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 2,830,402 shares in the company, valued at $57,372,248.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 98,459 shares of company stock worth $2,077,491. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Liberty Energy

Several large investors have recently bought and sold shares of LBRT. KBC Group NV bought a new stake in Liberty Energy in the fourth quarter valued at approximately $55,000. West Tower Group LLC bought a new stake in Liberty Energy in the fourth quarter valued at approximately $56,000. PNC Financial Services Group Inc. increased its stake in Liberty Energy by 27.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after purchasing an additional 709 shares in the last quarter. US Bancorp DE increased its stake in Liberty Energy by 71.4% in the fourth quarter. US Bancorp DE now owns 3,896 shares of the company’s stock valued at $71,000 after purchasing an additional 1,623 shares in the last quarter. Finally, Quarry LP increased its stake in Liberty Energy by 111.0% in the second quarter. Quarry LP now owns 3,965 shares of the company’s stock valued at $53,000 after purchasing an additional 2,086 shares in the last quarter. 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.