Liberty Energy Inc. (NYSE:LBRT – Get Free Report) CEO Ron Gusek bought 25,000 shares of the stock in a transaction on Tuesday, November 3rd. The stock was purchased at an average cost of $15.09 per share, with a total value of $377,250.00. Following the purchase, the chief executive officer directly owned 1,068,702 shares of the company’s stock, valued at approximately $16,126,713.18. This represents a 2.40% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.
Liberty Energy Trading Down 14.1%
LBRT opened at $11.29 on Friday. The firm’s fifty day moving average is $18.27 and its two-hundred day moving average is $24.47. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.09 and a current ratio of 1.30. The firm has a market cap of $1.84 billion, a PE ratio of 47.06, a price-to-earnings-growth ratio of 3.06 and a beta of 0.72. Liberty Energy Inc. has a twelve month low of $11.24 and a twelve month high of $34.48.
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 analysts’ consensus estimates 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 period last year, the firm posted ($0.06) earnings per share. The business’s quarterly revenue was up 26.3% compared to the same quarter last year. Equities research analysts anticipate that Liberty Energy Inc. will post 0.21 EPS for the current year.
Liberty Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend 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 150.00%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in shares of Liberty Energy by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 9,233,668 shares of the company’s stock valued at $265,931,000 after purchasing an additional 431,269 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Liberty Energy by 901.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,431,125 shares of the company’s stock worth $127,616,000 after purchasing an additional 3,988,535 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Liberty Energy in the second quarter worth $61,185,000. Sei Investments Co. lifted its position in shares of Liberty Energy by 54.3% in the first quarter. Sei Investments Co. now owns 983,706 shares of the company’s stock worth $28,331,000 after purchasing an additional 346,239 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in Liberty Energy by 23.8% during the second quarter. Squarepoint Ops LLC now owns 1,051,488 shares of the company’s stock worth $27,538,000 after purchasing an additional 201,839 shares during the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on LBRT. Piper Sandler reduced their target price on Liberty Energy from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, October 23rd. Wall Street Zen upgraded Liberty Energy from a “strong sell” rating to a “sell” rating in a report on Sunday, November 1st. TD Cowen lowered their price target on Liberty Energy from $24.00 to $22.00 and set a “hold” rating for the company in a report on Friday, October 23rd. Scotiabank assumed coverage on Liberty Energy in a research report on Tuesday, September 29th. They set a “sector perform” rating and a $19.00 price target on the stock. Finally, Citigroup lifted their price objective on Liberty Energy from $27.50 to $28.00 and gave the company a “buy” rating in a report on Monday, October 26th. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.42.
Liberty Energy Company Profile
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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