Liberty Energy Inc. Announces Quarterly Dividend of $0.07 (NYSE:LBRT)

Liberty Energy Inc. (NYSE:LBRTGet Free Report) announced a quarterly dividend on Tuesday, January 23rd, Zacks reports. Shareholders of record on Wednesday, March 6th will be given a dividend of 0.07 per share on Wednesday, March 20th. This represents a $0.28 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Tuesday, March 5th.

Liberty Energy has raised its dividend payment by an average of 63.9% annually over the last three years and has increased its dividend every year for the last 1 years. Liberty Energy has a dividend payout ratio of 8.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Liberty Energy to earn $3.09 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 9.1%.

Liberty Energy Stock Up 2.2 %

LBRT opened at $21.84 on Monday. The business’s fifty day moving average is $19.20 and its two-hundred day moving average is $18.70. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.17 and a current ratio of 1.49. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 6.91, a PEG ratio of 1.00 and a beta of 1.86. Liberty Energy has a one year low of $11.18 and a one year high of $22.05.

Liberty Energy (NYSE:LBRTGet Free Report) last posted its earnings results on Wednesday, January 24th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Liberty Energy had a return on equity of 32.28% and a net margin of 11.72%. The firm’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 earnings per share. Analysts anticipate that Liberty Energy will post 2.78 EPS for the current fiscal year.

Insider Activity at Liberty Energy

In related news, insider R Sean Elliott sold 20,000 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total transaction of $410,000.00. Following the transaction, the insider now directly owns 218,530 shares in the company, valued at $4,479,865. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Christopher A. Wright sold 2,100 shares of the stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $19.04, for a total transaction of $39,984.00. Following the transaction, the chief executive officer now directly owns 2,839,760 shares in the company, valued at $54,069,030.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider R Sean Elliott sold 20,000 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total value of $410,000.00. Following the transaction, the insider now owns 218,530 shares in the company, valued at $4,479,865. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,611 shares of company stock worth $1,082,751. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Liberty Energy

Several large investors have recently added to or reduced their stakes in the business. Quarry LP raised its holdings in shares of Liberty Energy by 111.0% in the 2nd quarter. Quarry LP now owns 3,965 shares of the company’s stock worth $53,000 after purchasing an additional 2,086 shares during the period. KBC Group NV purchased a new position in shares of Liberty Energy in the 4th quarter worth about $55,000. West Tower Group LLC purchased a new position in shares of Liberty Energy in the 4th quarter worth about $56,000. PNC Financial Services Group Inc. raised 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 worth $59,000 after purchasing an additional 709 shares during the period. Finally, US Bancorp DE raised its holdings in shares of Liberty Energy by 71.4% in the 4th quarter. US Bancorp DE now owns 3,896 shares of the company’s stock worth $71,000 after purchasing an additional 1,623 shares during the period. 91.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on LBRT. Citigroup decreased their target price on Liberty Energy from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, December 14th. Morgan Stanley upped their price objective on Liberty Energy from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Piper Sandler upped their price objective on Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Finally, Wells Fargo & Company reduced their price objective on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, December 21st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.75.

Check Out Our Latest Stock Report on Liberty Energy

Liberty Energy Company Profile

(Get Free Report)

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.

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Dividend History for Liberty Energy (NYSE:LBRT)

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