Liberty Energy Inc. (NYSE:LBRT) CEO Sells $398,200.00 in Stock

Liberty Energy Inc. (NYSE:LBRT) CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $19.91, for a total value of $398,200.00. Following the completion of 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 filing with the SEC, which is available at the SEC website.

Liberty Energy Trading Up 2.7 %

Shares of LBRT stock opened at $21.07 on Friday. The stock has a market cap of $3.51 billion, a P/E ratio of 7.69, a price-to-earnings-growth ratio of 1.11 and a beta of 1.69. Liberty Energy Inc. has a 1 year low of $16.33 and a 1 year high of $24.75. 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 stock has a 50 day simple moving average of $20.80 and a 200 day simple moving average of $21.45.

Liberty Energy (NYSE:LBRT) last released its earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share 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 firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the company posted $0.87 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. On average, research analysts predict that Liberty Energy Inc. will post 2.17 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.28 dividend on an annualized basis and a yield of 1.33%. Liberty Energy’s payout ratio is 10.22%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Liberty Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Diversified Trust Co boosted its position in shares of Liberty Energy by 2.5% during the 1st quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock worth $427,000 after acquiring an additional 507 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Liberty Energy by 4.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 14,262 shares of the company’s stock valued at $296,000 after purchasing an additional 543 shares in the last quarter. Perigon Wealth Management LLC increased its stake in shares of Liberty Energy by 2.4% in the 1st quarter. Perigon Wealth Management LLC now owns 24,815 shares of the company’s stock valued at $514,000 after purchasing an additional 571 shares during the last quarter. Andina Capital Management LLC raised its holdings in shares of Liberty Energy by 3.9% during the 2nd quarter. Andina Capital Management LLC now owns 18,599 shares of the company’s stock worth $389,000 after buying an additional 691 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Liberty Energy by 27.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock worth $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.

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.