Insider Selling: Liberty Energy Inc. (NYSE:LBRT) CEO Sells 20,000 Shares of Stock

Liberty Energy Inc. (NYSE:LBRT) CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $20.26, for a total transaction of $405,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,758,813 shares of the company’s stock, valued at approximately $55,893,551.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Liberty Energy Stock Up 3.2 %

Liberty Energy stock opened at $20.90 on Friday. The company has a market capitalization of $3.48 billion, a P/E ratio of 7.63, a P/E/G ratio of 1.07 and a beta of 1.74. The firm’s fifty day simple moving average is $22.17 and its 200-day simple moving average is $20.83. The company has a current ratio of 1.48, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17. Liberty Energy Inc. has a 1-year low of $13.36 and a 1-year high of $24.75.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings results on Thursday, April 18th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. Liberty Energy had a net margin of 10.43% and a return on equity of 26.46%. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.90 EPS. Sell-side analysts forecast that Liberty Energy Inc. will post 2.43 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were issued a dividend of $0.07 per share. The ex-dividend date was Thursday, June 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.34%. Liberty Energy’s dividend payout ratio is currently 10.22%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. EdgeRock Capital LLC acquired a new position in Liberty Energy in the 4th quarter valued at $27,000. GAMMA Investing LLC grew its stake in Liberty Energy by 69.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock valued at $36,000 after buying an additional 713 shares during the last quarter. Principal Securities Inc. acquired a new position in Liberty Energy in the 4th quarter valued at $39,000. Quadrant Capital Group LLC grew its stake in Liberty Energy by 70.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock valued at $53,000 after buying an additional 1,206 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in 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 buying an additional 709 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on LBRT shares. Bank of America raised their price objective on shares of Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. Citigroup upgraded shares of Liberty Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $24.00 to $32.00 in a research report on Wednesday, May 29th. TD Cowen increased their target price on shares of Liberty Energy from $19.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Morgan Stanley reiterated an “equal weight” rating and issued a $24.00 target price on shares of Liberty Energy in a research report on Monday, April 22nd. Finally, Barclays increased their target price on shares of Liberty Energy from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.50.

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.