Christopher A. Wright Sells 20,000 Shares of Liberty Energy Inc. (NYSE:LBRT) Stock

Liberty Energy Inc. (NYSE:LBRT) CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $19.91, for a total value of $398,200.00. Following the sale, the chief executive officer now owns 2,678,813 shares in the company, valued at approximately $53,335,166.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Liberty Energy Stock Performance

Shares of NYSE:LBRT opened at $20.77 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 1.07 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $20.79 and a 200-day moving average price of $21.46. The company has a market cap of $3.46 billion, a price-to-earnings ratio of 7.58, a price-to-earnings-growth ratio of 1.11 and a beta of 1.69. Liberty Energy Inc. has a 12 month low of $16.33 and a 12 month high of $24.75.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings results on Wednesday, July 17th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the company posted $0.87 EPS. Liberty Energy’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, equities analysts anticipate that Liberty Energy Inc. will post 2.17 EPS for the current year.

Liberty Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Friday, September 6th. Liberty Energy’s dividend payout ratio (DPR) is currently 10.22%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. EdgeRock Capital LLC purchased a new position in shares of Liberty Energy during the second quarter valued at about $32,000. GAMMA Investing LLC grew its holdings in shares of Liberty Energy by 69.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock worth $36,000 after acquiring an additional 713 shares during the period. Principal Securities Inc. purchased a new position in shares of Liberty Energy during the 4th quarter worth approximately $39,000. Quadrant Capital Group LLC raised its position in shares of Liberty Energy by 70.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock worth $53,000 after acquiring an additional 1,206 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Liberty Energy by 27.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after purchasing an additional 709 shares during the period. 98.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LBRT has been the topic of a number of research reports. Barclays decreased their price objective on Liberty Energy from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Piper Sandler lowered their price objective on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Citigroup raised shares of Liberty Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $24.00 to $32.00 in a report on Wednesday, May 29th. TD Cowen decreased their target price on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday, July 19th. Finally, Bank of America cut their price target on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.78.

About Liberty Energy

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.