Liberty Energy (NYSE:LBRT) CFO Michael Stock Sells 6,666 Shares

Liberty Energy Inc. (NYSE:LBRTGet Free Report) CFO Michael Stock sold 6,666 shares of the company’s stock in a transaction 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Stock also recently made the following trade(s):

  • On Monday, August 3rd, Michael Stock sold 3,333 shares of Liberty Energy stock. The stock was sold at an average price of $17.95, for a total value of $59,827.35.
  • On Wednesday, July 1st, Michael Stock sold 9,999 shares of Liberty Energy stock. The shares were sold at an average price of $25.89, for a total value of $258,874.11.

Liberty Energy Stock Performance

NYSE:LBRT opened at $20.05 on Wednesday. The stock has a 50-day simple moving average of $21.76 and a two-hundred day simple moving average of $26.75. The firm has a market capitalization of $3.27 billion, a PE ratio of 27.09, a P/E/G ratio of 2.88 and a beta of 0.60. Liberty Energy Inc. has a 52-week low of $9.90 and a 52-week high of $34.48. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.75 and a current ratio of 1.99.

Liberty Energy (NYSE:LBRTGet Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Liberty Energy had a net margin of 2.92% and a return on equity of 1.14%. The firm’s revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.12 EPS. Analysts forecast that Liberty Energy Inc. will post 0.33 EPS for the current year.

Liberty Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, September 4th. Liberty Energy’s dividend payout ratio (DPR) is 48.65%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. UBS Group reissued a “buy” rating on shares of Liberty Energy in a research note on Friday, June 26th. The Goldman Sachs Group set a $23.00 price objective on shares of Liberty Energy in a research note on Friday, August 7th. Zacks Research downgraded Liberty Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. Barclays boosted their price objective on shares of Liberty Energy from $29.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Finally, Piper Sandler cut their target price on shares of Liberty Energy from $34.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, August 27th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Liberty Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Check Out Our Latest Stock Analysis on LBRT

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System lifted its position in Liberty Energy by 2,521.1% during the 2nd quarter. California State Teachers Retirement System now owns 4,916,989 shares of the company’s stock worth $128,776,000 after acquiring an additional 4,729,397 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Liberty Energy by 901.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,431,125 shares of the company’s stock valued at $127,616,000 after buying an additional 3,988,535 shares during the last quarter. Franklin Resources Inc. increased its holdings in Liberty Energy by 78.5% in the 3rd quarter. Franklin Resources Inc. now owns 8,575,840 shares of the company’s stock worth $105,826,000 after buying an additional 3,771,724 shares during the period. Balyasny Asset Management L.P. increased its holdings in Liberty Energy by 1,529.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 2,753,357 shares of the company’s stock worth $33,976,000 after buying an additional 2,584,359 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Liberty Energy during the 2nd quarter worth approximately $61,185,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

About Liberty Energy

(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.

Further Reading

Insider Buying and Selling by Quarter for Liberty Energy (NYSE:LBRT)

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