Christopher A. Wright Sells 20,000 Shares of Liberty Energy Inc. (NYSE:LBRT) Stock

17 Sep 2024, 21:31 by Renee Jackson · The Cerbat Gem

Liberty Energy Inc. (NYSE:LBRT – Get Free Report) CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $19.91, for a total transaction of $398,200.00. Following the transaction, the chief executive officer now owns 2,678,813 shares in the company, valued at $53,335,166.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Liberty Energy Price Performance

NYSE:LBRT traded up $0.73 during trading hours on Tuesday, reaching $20.77. 1,370,872 shares of the company were exchanged, compared to its average volume of 2,520,677. The business has a 50 day moving average of $20.77 and a 200 day moving average of $21.47. Liberty Energy Inc. has a 1-year low of $16.33 and a 1-year high of $24.75. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 1.07. The company has a market capitalization of $3.43 billion, a P/E ratio of 7.55, a P/E/G ratio of 1.11 and a beta of 1.68.

Liberty Energy (NYSE:LBRT – Get Free Report) last released its earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. Liberty Energy’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.87 EPS. Research analysts forecast that Liberty Energy Inc. will post 2.17 EPS for the current year.

Liberty Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Friday, September 6th. Liberty Energy’s dividend payout ratio (DPR) is presently 10.22%.

Wall Street Analysts Forecast Growth

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

View Our Latest Stock Report on LBRT

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new position in shares of Liberty Energy during the 2nd quarter worth $32,000. GAMMA Investing LLC lifted its holdings in shares of Liberty Energy by 69.2% in the second quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock worth $36,000 after acquiring an additional 713 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Liberty Energy in the 4th quarter valued at approximately $39,000. nVerses Capital LLC grew its holdings in shares of Liberty Energy by 45.0% during the 2nd quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock valued at $61,000 after purchasing an additional 900 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in Liberty Energy by 70.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock worth $53,000 after purchasing an additional 1,206 shares in the last quarter. 98.22% of the stock is currently owned by institutional investors and hedge funds.

About Liberty Energy

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