Liberty Energy (NYSE:LBRT) Issues Earnings Results

Liberty Energy (NYSE:LBRT) issued its earnings results on Wednesday. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06), Zacks reports. Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%.

Liberty Energy Stock Up 2.9 %

Shares of NYSE LBRT traded up $0.58 during midday trading on Wednesday, hitting $20.63. 4,149,889 shares of the stock traded hands, compared to its average volume of 2,854,551. The company has a market cap of $3.37 billion, a PE ratio of 9.82 and a beta of 1.66. Liberty Energy has a one year low of $16.57 and a one year high of $24.75. The business has a 50 day moving average price of $19.77 and a two-hundred day moving average price of $19.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 1.23.

Liberty Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Thursday, March 6th. Liberty Energy’s dividend payout ratio (DPR) is presently 15.24%.

Insider Activity

In other news, CEO Christopher A. Wright sold 12,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $17.44, for a total transaction of $209,280.00. Following the transaction, the chief executive officer now owns 2,606,813 shares of the company’s stock, valued at $45,462,818.72. This represents a 0.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Stock sold 20,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $20.82, for a total value of $416,400.00. Following the sale, the chief financial officer now directly owns 680,207 shares in the company, valued at $14,161,909.74. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 82,973 shares of company stock worth $1,586,335 over the last quarter. 3.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

LBRT has been the topic of a number of research analyst reports. Evercore ISI raised Liberty Energy to a “strong-buy” rating in a research report on Thursday, October 17th. Atb Cap Markets raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Royal Bank of Canada dropped their target price on Liberty Energy from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Wells Fargo & Company dropped their target price on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Finally, TD Cowen dropped their target price on Liberty Energy from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Liberty Energy currently has a consensus rating of “Moderate Buy” and an average target price of $22.20.

Liberty Energy Company Profile

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.