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

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

Liberty Energy Stock Up 1.2 %

Shares of Liberty Energy stock opened at $22.37 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.48 and a quick ratio of 1.17. Liberty Energy has a 1-year low of $11.62 and a 1-year high of $23.31. The business has a 50-day moving average of $21.20 and a 200-day moving average of $19.68. The company has a market capitalization of $3.73 billion, a PE ratio of 8.16, a P/E/G ratio of 1.08 and a beta of 1.85.

Liberty Energy Dividend Announcement

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 $0.07 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $0.28 dividend on an annualized basis and a yield of 1.25%. Liberty Energy’s payout ratio is currently 10.22%.

Insider Buying and Selling

In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $22.66, for a total transaction of $453,200.00. Following the sale, the chief executive officer now directly owns 2,858,814 shares in the company, valued at approximately $64,780,725.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $22.66, for a total transaction of $453,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,858,814 shares of the company’s stock, valued at approximately $64,780,725.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Ryan T. Gosney sold 6,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total transaction of $123,000.00. Following the completion of the sale, the chief accounting officer now directly owns 140,706 shares of the company’s stock, valued at approximately $2,884,473. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 98,459 shares of company stock worth $2,077,491. 3.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. PFS Investments Inc. acquired a new stake in shares of Liberty Energy during the 4th quarter valued at approximately $172,000. Cetera Investment Advisers bought a new stake in Liberty Energy during the fourth quarter valued at $170,000. Mercer Global Advisors Inc. ADV raised its holdings in shares of Liberty Energy by 14.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 12,564 shares of the company’s stock worth $168,000 after purchasing an additional 1,616 shares during the period. Bridgefront Capital LLC bought a new position in shares of Liberty Energy in the 2nd quarter worth about $158,000. Finally, Benjamin Edwards Inc. boosted its holdings in shares of Liberty Energy by 157.4% in the 2nd quarter. Benjamin Edwards Inc. now owns 11,034 shares of the company’s stock valued at $148,000 after buying an additional 6,748 shares during the period. Institutional investors own 98.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LBRT shares. Bank of America boosted their price target on Liberty Energy from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. Royal Bank of Canada increased 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. 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. Wells Fargo & Company increased their price objective on shares of Liberty Energy from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Morgan Stanley lifted their target price on shares of Liberty Energy from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Liberty Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.30.

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.