Liberty Energy (NYSE:LBRT) Posts Quarterly Earnings Results

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

Liberty Energy Price Performance

NYSE LBRT opened at $20.63 on Thursday. Liberty Energy has a 1 year low of $16.57 and a 1 year high of $24.75. The business’s fifty day moving average is $19.83 and its two-hundred day moving average is $19.80. The stock has a market capitalization of $3.37 billion, a P/E ratio of 9.82 and a beta of 1.66. 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 Dividend Announcement

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 given a $0.08 dividend. The ex-dividend date is Thursday, March 6th. This represents a $0.32 annualized dividend and a yield of 1.55%. Liberty Energy’s dividend payout ratio (DPR) is 15.24%.

Insider Transactions at Liberty Energy

In other Liberty Energy news, CEO Christopher A. Wright sold 2,037 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $18.15, for a total transaction of $36,971.55. Following the sale, the chief executive officer now directly owns 2,578,813 shares of the company’s stock, valued at $46,805,455.95. The trade was a 0.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Stock sold 20,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $20.82, for a total value of $416,400.00. Following the completion of the sale, the chief financial officer now owns 680,207 shares of the company’s stock, valued at $14,161,909.74. The trade was 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 valued at $1,586,335 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on LBRT. Evercore ISI raised Liberty Energy to a “strong-buy” rating in a research note on Thursday, October 17th. Barclays cut their price objective on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. The Goldman Sachs Group initiated coverage on shares of Liberty Energy in a research report on Friday, December 13th. They issued a “neutral” rating and a $19.00 target price for the company. Royal Bank of Canada dropped their price target on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Finally, Stifel Nicolaus decreased their price objective on shares of Liberty Energy from $25.00 to $23.00 and set a “buy” rating for the company in a report on Monday, January 6th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.