Liberty Energy (NYSE:LBRT) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Liberty Energy (NYSE:LBRTGet Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01, Zacks reports. Liberty Energy had a net margin of 3.71% and a return on equity of 1.41%.

Liberty Energy Stock Up 1.4%

Shares of NYSE LBRT traded up $0.34 during trading on Wednesday, reaching $25.22. 3,981,520 shares of the stock were exchanged, compared to its average volume of 4,144,223. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 1.96 and a beta of 0.54. The business’s 50-day moving average price is $27.95 and its 200 day moving average price is $27.17. The company has a quick ratio of 1.97, a current ratio of 2.21 and a debt-to-equity ratio of 0.75. Liberty Energy has a twelve month low of $9.90 and a twelve month high of $34.48.

Liberty Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.09 per share. The ex-dividend date is Friday, September 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.4%. Liberty Energy’s dividend payout ratio (DPR) is currently 39.56%.

Insiders Place Their Bets

In other Liberty Energy news, Chairman William F. Kimble sold 7,350 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $33.92, for a total value of $249,312.00. Following the transaction, the chairman owned 89,805 shares in the company, valued at $3,046,185.60. The trade was a 7.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael Stock sold 9,999 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $25.89, for a total transaction of $258,874.11. Following the completion of the transaction, the chief financial officer directly owned 773,711 shares of the company’s stock, valued at approximately $20,031,377.79. The trade was a 1.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 54,012 shares of company stock valued at $1,673,803. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Liberty Energy

A number of hedge funds and other institutional investors have recently modified their holdings of LBRT. Maryland State Retirement & Pension System boosted its stake in Liberty Energy by 2.0% in the fourth quarter. Maryland State Retirement & Pension System now owns 23,760 shares of the company’s stock valued at $439,000 after acquiring an additional 477 shares during the period. Quadrant Capital Group LLC raised its position in shares of Liberty Energy by 39.9% during the 4th quarter. Quadrant Capital Group LLC now owns 2,140 shares of the company’s stock worth $40,000 after purchasing an additional 610 shares during the period. Cerity Partners LLC lifted its holdings in shares of Liberty Energy by 1.2% in the 4th quarter. Cerity Partners LLC now owns 63,776 shares of the company’s stock worth $1,177,000 after purchasing an additional 782 shares during the last quarter. First Citizens Bank & Trust Co. lifted its holdings in shares of Liberty Energy by 3.2% in the 4th quarter. First Citizens Bank & Trust Co. now owns 31,658 shares of the company’s stock worth $584,000 after purchasing an additional 976 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in Liberty Energy by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 145,252 shares of the company’s stock valued at $1,667,000 after purchasing an additional 1,012 shares during the period. 98.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Morgan Stanley set a $35.00 price objective on shares of Liberty Energy in a research report on Wednesday, July 15th. Barclays lifted their target price on shares of Liberty Energy from $29.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Stifel Nicolaus upped their price target on shares of Liberty Energy from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. UBS Group reiterated a “buy” rating on shares of Liberty Energy in a report on Friday, June 26th. Finally, Piper Sandler raised their price objective on Liberty Energy from $32.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.09.

Read Our Latest Analysis on Liberty Energy

Liberty Energy Company Profile

(Get Free Report)

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. As of as of December 31, 2023, the company owned and operated a fleet of approximately 40 active hydraulic fracturing; and two sand mines in the Permian Basin.

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Earnings History for Liberty Energy (NYSE:LBRT)

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