Liberty Energy (NYSE:LBRT) Releases Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Liberty Energy (NYSE:LBRT) released its quarterly earnings results on Thursday. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.06), Briefing.com reports. Liberty Energy had a net margin of 10.43% and a return on equity of 26.46%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the company posted $0.90 earnings per share. The company’s revenue was down 12.8% on a year-over-year basis.

Liberty Energy Price Performance

Shares of LBRT stock traded up $0.28 on Friday, reaching $22.38. The company had a trading volume of 3,772,818 shares, compared to its average volume of 2,533,495. The stock has a market capitalization of $3.73 billion, a PE ratio of 8.16, a price-to-earnings-growth ratio of 1.08 and a beta of 1.85. The company has a quick ratio of 1.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.09. Liberty Energy has a one year low of $11.62 and a one year high of $23.31. The business’s 50-day moving average is $21.20 and its 200 day moving average is $19.68.

Liberty Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be issued a $0.07 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.25%. Liberty Energy’s dividend payout ratio (DPR) is currently 10.22%.

Analysts Set New Price Targets

LBRT has been the topic of several research reports. Barclays upped their price target on shares of Liberty Energy from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday. Piper Sandler upped their price objective on shares of Liberty Energy from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Wells Fargo & Company upped their price objective on shares of Liberty Energy from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday. Morgan Stanley upped their price objective on shares of Liberty Energy from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Finally, Bank of America upped their price objective on shares of Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.30.

Insider Transactions at Liberty Energy

In other news, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $22.66, for a total value of $453,200.00. Following the completion of the transaction, the chief executive officer now owns 2,858,814 shares of the company’s stock, valued at $64,780,725.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $22.66, for a total transaction of $453,200.00. Following the completion of the sale, the chief executive officer now owns 2,858,814 shares of the company’s stock, valued at approximately $64,780,725.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William F. Kimble sold 12,459 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $21.55, for a total transaction of $268,491.45. Following the sale, the director now directly owns 69,963 shares of the company’s stock, valued at approximately $1,507,702.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,459 shares of company stock valued at $2,077,491. 3.60% of the stock is currently owned by insiders.

Institutional Trading of Liberty Energy

Several large investors have recently modified their holdings of LBRT. KBC Group NV bought a new position in shares of Liberty Energy in the 4th quarter worth $55,000. West Tower Group LLC bought a new stake in shares of Liberty Energy during the 4th quarter worth $56,000. PNC Financial Services Group Inc. raised its stake 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 purchasing an additional 709 shares during the period. US Bancorp DE raised its stake in shares of Liberty Energy by 71.4% during 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. Finally, Quarry LP raised its stake in shares of Liberty Energy by 111.0% during 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. 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.