Liberty Energy Inc. (LBRT) to Distribute Quarterly Dividend of $0.10 on December 18th

Liberty Energy Inc. (NYSE:LBRT – Get Free Report) announced a quarterly dividend on Tuesday, October 20th. Investors of record on Friday, December 4th will be paid a dividend of $0.10 per share on Friday, December 18th. This represents a $0.40 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, December 4th. This is a 11.1% increase from Liberty Energy’s previous quarterly dividend of $0.09.

Liberty Energy has raised its dividend by an average of 0.5% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Liberty Energy has a payout ratio of 78.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Liberty Energy to earn $0.10 per share next year, which means the company may not be able to cover its $0.36 annual dividend with an expected future payout ratio of 360.0%.

Liberty Energy Price Performance

Shares of NYSE LBRT opened at $16.71 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.75 and a current ratio of 1.99. The firm has a fifty day moving average of $19.30 and a 200 day moving average of $24.37. The firm has a market cap of $2.73 billion, a PE ratio of 118.43, a PEG ratio of 2.90 and a beta of 0.71. Liberty Energy has a one year low of $14.76 and a one year high of $34.48.

Liberty Energy (NYSE:LBRT – Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. Liberty Energy had a net margin of 2.92% and a return on equity of 1.14%. The company’s revenue was up 26.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.06) earnings per share. As a group, research analysts predict that Liberty Energy will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Liberty Energy news, Director Arjun N. Murti bought 14,053 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was acquired at an average price of $17.79 per share, with a total value of $250,002.87. Following the completion of the acquisition, the director directly owned 41,621 shares of the company’s stock, valued at $740,437.59. This represents a 50.98% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Stock sold 6,666 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $19.84, for a total transaction of $132,253.44. Following the completion of the sale, the chief financial officer owned 760,379 shares of the company’s stock, valued at $15,085,919.36. This trade represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,665 shares of company stock worth $319,301 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Liberty Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Root Financial Partners LLC boosted its position in Liberty Energy by 79.6% during the first quarter. Root Financial Partners LLC now owns 914 shares of the company’s stock worth $26,000 after acquiring an additional 405 shares during the last quarter. Valued Wealth Advisors LLC purchased a new stake in Liberty Energy during the 1st quarter valued at about $26,000. Reyes Financial Architecture Inc. acquired a new stake in Liberty Energy in the 3rd quarter valued at about $27,000. Summit Securities Group LLC acquired a new stake in Liberty Energy in the 1st quarter valued at about $28,000. Finally, GHP Investment Advisors Inc. acquired a new stake in Liberty Energy in the 1st quarter valued at about $39,000. 98.22% of the stock is owned by hedge funds and other institutional investors.

About Liberty Energy

(Get Free Report)

Liberty Energy Inc is an oilfield services company that provides completion and production services to exploration and production companies. Its primary business is hydraulic fracturing, a well-stimulation technique used to improve the flow of oil and natural gas from unconventional reservoirs.

The company also offers wireline services, well diagnostics, frac data analysis, engineering support, and related technologies designed to help customers plan, execute, and evaluate well-completion operations.

Further Reading

Dividend History for Liberty Energy (NYSE:LBRT)

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