Liberty Energy Inc. (NYSE:LBRT) Expected to Earn Q3 2024 Earnings of $0.51 Per Share

Liberty Energy Inc. (NYSE:LBRT) – Investment analysts at Atb Cap Markets cut their Q3 2024 earnings estimates for Liberty Energy in a research report issued on Tuesday, October 1st. Atb Cap Markets analyst W. Syed now expects that the company will post earnings per share of $0.51 for the quarter, down from their previous forecast of $0.61. The consensus estimate for Liberty Energy’s current full-year earnings is $2.18 per share. Atb Cap Markets also issued estimates for Liberty Energy’s Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $1.93 EPS, Q1 2025 earnings at $0.36 EPS, Q2 2025 earnings at $0.51 EPS, FY2025 earnings at $1.94 EPS, Q1 2026 earnings at $0.42 EPS, Q2 2026 earnings at $0.58 EPS, Q3 2026 earnings at $0.63 EPS and FY2026 earnings at $2.20 EPS.

Other equities analysts also recently issued reports about the stock. Citigroup reduced their target price on shares of Liberty Energy from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday. Bank of America reduced their target price on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Piper Sandler reduced their target price 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 reduced 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 note on Friday, July 19th. Finally, Barclays reduced their price target on shares of 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Liberty Energy Stock Performance

LBRT opened at $20.51 on Friday. The firm has a market capitalization of $3.42 billion, a PE ratio of 7.49, a PEG ratio of 1.24 and a beta of 1.68. Liberty Energy has a twelve month low of $16.33 and a twelve month high of $24.75. The firm’s 50-day moving average price is $20.39 and its 200 day moving average price is $21.37. The company has a current ratio of 1.35, a quick ratio of 1.07 and a debt-to-equity ratio of 0.17.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. Liberty Energy’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 earnings per share.

Liberty Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.37%. The ex-dividend date was Friday, September 6th. Liberty Energy’s payout ratio is currently 10.22%.

Insider Buying and Selling

In related news, CFO Michael Stock sold 4,374 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $21.01, for a total transaction of $91,897.74. Following the sale, the chief financial officer now directly owns 785,207 shares of the company’s stock, valued at $16,497,199.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Michael Stock sold 4,374 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $21.01, for a total transaction of $91,897.74. Following the sale, the chief financial officer now directly owns 785,207 shares of the company’s stock, valued at $16,497,199.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $19.77, for a total transaction of $395,400.00. Following the sale, the chief executive officer now directly owns 2,638,813 shares in the company, valued at approximately $52,169,333.01. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 99,374 shares of company stock valued at $2,037,548 in the last ninety days. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LBRT. TD Asset Management Inc grew its holdings in Liberty Energy by 68.8% during the 4th quarter. TD Asset Management Inc now owns 271,788 shares of the company’s stock worth $4,930,000 after acquiring an additional 110,800 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in Liberty Energy during the 4th quarter worth approximately $63,000. PNC Financial Services Group Inc. boosted its holdings 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 buying an additional 709 shares in the last quarter. Hennessy Advisors Inc. boosted its holdings in shares of Liberty Energy by 14.1% in the 1st quarter. Hennessy Advisors Inc. now owns 1,338,400 shares of the company’s stock valued at $27,732,000 after buying an additional 165,400 shares in the last quarter. Finally, Diversified Trust Co boosted its holdings in shares of Liberty Energy by 2.5% in the 1st quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock valued at $427,000 after buying an additional 507 shares in the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

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.