Liberty Energy (NYSE:LBRT) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Liberty Energy (NYSE:LBRT – Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01), FiscalAI reports. Liberty Energy had a return on equity of 1.14% and a net margin of 2.92%.

Liberty Energy Price Performance

LBRT stock traded up $0.13 during trading on Wednesday, reaching $16.71. The company’s stock had a trading volume of 4,874,170 shares, compared to its average volume of 4,258,128. The company has a quick ratio of 1.75, a current ratio of 1.99 and a debt-to-equity ratio of 0.74. The company’s fifty day moving average is $19.40 and its 200-day moving average is $24.45. The company has a market capitalization of $2.73 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 2.99 and a beta of 0.71. Liberty Energy has a 1 year low of $14.76 and a 1 year high of $34.48.

Liberty Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, December 4th. This is a boost from Liberty Energy’s previous quarterly dividend of $0.09. Liberty Energy’s dividend payout ratio (DPR) is currently 48.65%.

Analyst Ratings Changes

Several analysts have issued reports on LBRT shares. Morgan Stanley cut their price target on Liberty Energy from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, October 14th. Stifel Nicolaus decreased their price objective on Liberty Energy from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, July 24th. Piper Sandler lowered their price objective on Liberty Energy from $30.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday. Citigroup cut their price objective on Liberty Energy from $28.50 to $27.50 and set a “buy” rating for the company in a research note on Wednesday, September 30th. Finally, UBS Group reduced their target price on shares of Liberty Energy from $35.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, September 30th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.12.

Get Our Latest Analysis on LBRT

Insider Activity

In other news, 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 transaction of $132,253.44. Following the completion of the transaction, the chief financial officer directly owned 760,379 shares in the company, valued at approximately $15,085,919.36. This represents a 0.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Arjun N. Murti bought 14,053 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was acquired at an average cost of $17.79 per share, with a total value of $250,002.87. Following the completion of the acquisition, the director owned 41,621 shares of the company’s stock, valued at $740,437.59. This represents a 50.98% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 16,665 shares of company stock worth $319,301 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Liberty Energy Company Profile

(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.

See Also

Earnings History for Liberty Energy (NYSE:LBRT)

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