Atb Cap Markets Expects Lower Earnings for Liberty Energy

Liberty Energy Inc. (NYSE:LBRT) – Investment analysts at Atb Cap Markets cut their Q4 2024 earnings estimates for Liberty Energy in a report issued on Tuesday, December 10th. Atb Cap Markets analyst W. Syed now expects that the company will post earnings of ($0.02) per share for the quarter, down from their previous forecast of $0.14. Atb Cap Markets currently has a “Strong-Buy” rating on the stock. The consensus estimate for Liberty Energy’s current full-year earnings is $1.72 per share.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.10). Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the company posted $0.85 EPS. The company’s quarterly revenue was down 6.4% on a year-over-year basis.

A number of other brokerages also recently issued reports on LBRT. The Goldman Sachs Group assumed coverage on shares of Liberty Energy in a research report on Friday. They issued a “neutral” rating and a $19.00 price target on the stock. Barclays dropped their target price on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Evercore ISI raised shares of Liberty Energy to a “strong-buy” rating in a research report on Thursday, October 17th. Citigroup lowered Liberty Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $25.00 to $19.00 in a research report on Friday, October 18th. Finally, Wells Fargo & Company cut their target price on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Liberty Energy Stock Performance

Shares of LBRT stock opened at $18.99 on Friday. The stock has a market capitalization of $3.10 billion, a PE ratio of 9.04 and a beta of 1.71. The business’s 50 day simple moving average is $18.30 and its 200 day simple moving average is $20.03. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.97. Liberty Energy has a one year low of $16.57 and a one year high of $24.75.

Institutional Investors Weigh In On Liberty Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC boosted its stake in Liberty Energy by 17.1% during the 3rd quarter. FMR LLC now owns 18,115,282 shares of the company’s stock valued at $345,821,000 after purchasing an additional 2,640,119 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Liberty Energy by 15.9% during the third quarter. Pacer Advisors Inc. now owns 7,012,382 shares of the company’s stock worth $133,866,000 after acquiring an additional 963,068 shares during the period. State Street Corp boosted its holdings in shares of Liberty Energy by 2.7% in the 3rd quarter. State Street Corp now owns 6,662,830 shares of the company’s stock worth $127,193,000 after buying an additional 176,887 shares during the last quarter. Canoe Financial LP boosted its stake in Liberty Energy by 20.4% in the third quarter. Canoe Financial LP now owns 4,124,695 shares of the company’s stock valued at $79,408,000 after acquiring an additional 699,500 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Liberty Energy by 17.6% in the second quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock valued at $82,754,000 after purchasing an additional 594,051 shares during the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

Insider Buying and Selling

In other Liberty Energy news, CFO Michael Stock sold 15,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $19.23, for a total transaction of $288,450.00. Following the transaction, the chief financial officer now owns 730,207 shares in the company, valued at approximately $14,041,880.61. This represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher A. Wright sold 2,936 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $19.16, for a total transaction of $56,253.76. Following the completion of the transaction, the chief executive officer now directly owns 2,543,877 shares in the company, valued at $48,740,683.32. This trade represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 112,973 shares of company stock valued at $2,144,485. 3.60% of the stock is owned by company insiders.

Liberty Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.69%. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, December 6th. Liberty Energy’s payout ratio is presently 15.24%.

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.