Liberty Energy Inc. (NYSE:LBRT – Get Free Report) shares fell 9.4% during mid-day trading on Monday. The company traded as low as $15.21 and last traded at $15.2980. 1,818,625 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 4,275,942 shares. The stock had previously closed at $16.88.
Analyst Upgrades and Downgrades
Several analysts have commented on LBRT shares. Citigroup increased their target price on Liberty Energy from $27.50 to $28.00 and gave the company a “buy” rating in a research note on Monday, October 26th. The Goldman Sachs Group set a $23.00 price objective on shares of Liberty Energy in a research report on Friday, August 7th. UBS Group decreased their target price on shares of Liberty Energy from $31.00 to $27.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Stifel Nicolaus lowered their price target on shares of Liberty Energy from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, July 24th. Finally, Wall Street Zen upgraded shares of Liberty Energy from a “strong sell” rating to a “sell” rating in a research report on Sunday. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.42.
View Our Latest Stock Analysis on LBRT
Liberty Energy Stock Down 12.7%
The business has a 50-day moving average of $18.68 and a 200 day moving average of $24.61. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.30 and a quick ratio of 1.09. The company has a market capitalization of $2.40 billion, a PE ratio of 61.41, a P/E/G ratio of 3.81 and a beta of 0.71.
Liberty Energy (NYSE:LBRT – Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Liberty Energy had a net margin of 0.91% and a return on equity of 2.13%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the business posted ($0.06) earnings per share. Liberty Energy’s quarterly revenue was up 26.3% on a year-over-year basis. Equities research analysts predict that Liberty Energy Inc. will post 0.22 earnings per share for the current year.
Liberty Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, December 4th. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 2.7%. Liberty Energy’s payout ratio is presently 166.67%.
Insider Transactions at Liberty Energy
In other news, Director Ken Babcock purchased 14,500 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The shares were bought at an average cost of $15.40 per share, for a total transaction of $223,300.00. Following the acquisition, the director owned 83,258 shares of the company’s stock, valued at approximately $1,282,173.20. This trade represents a 21.09% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Stock sold 6,666 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $19.84, for a total value of $132,253.44. Following the completion of the sale, the chief financial officer owned 760,379 shares in the company, valued at approximately $15,085,919.36. The trade was a 0.87% 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 13,332 shares of company stock valued at $259,474. 2.00% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Root Financial Partners LLC grew its position in shares of Liberty Energy by 79.6% during the 1st quarter. Root Financial Partners LLC now owns 914 shares of the company’s stock worth $26,000 after buying an additional 405 shares in the last quarter. Valued Wealth Advisors LLC purchased a new position in shares of Liberty Energy in the 1st quarter worth approximately $26,000. Summit Securities Group LLC purchased a new position in Liberty Energy in the first quarter worth $28,000. Reyes Financial Architecture Inc. acquired a new position in Liberty Energy during the 3rd quarter valued at about $27,000. Finally, Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Liberty Energy by 36.8% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 2,862 shares of the company’s stock valued at $52,000 after acquiring an additional 770 shares in the last quarter. Institutional investors own 98.22% of the company’s stock.
About Liberty Energy
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.
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