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

18 Sep 2024, 09:46 by Kim Johansen · The Markets Daily

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

Liberty Energy Price Performance

Liberty Energy stock opened at $20.77 on Wednesday. The firm has a market capitalization of $3.46 billion, a P/E ratio of 7.58, a PEG ratio of 1.11 and a beta of 1.69. Liberty Energy Inc. has a one year low of $16.33 and a one 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 business has a fifty day moving average price of $20.79 and a 200-day moving average price of $21.46.

Liberty Energy (NYSE:LBRT – Get Free Report) last issued its earnings results on Wednesday, July 17th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.87 EPS. As a group, equities research analysts forecast that Liberty Energy Inc. will post 2.17 EPS for the current year.

Liberty Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, September 6th. This represents a $0.28 annualized dividend and a yield of 1.35%. Liberty Energy’s dividend payout ratio is currently 10.22%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LBRT. Principal Securities Inc. purchased a new position in Liberty Energy during the fourth quarter worth about $39,000. BNP Paribas Financial Markets boosted its position in shares of Liberty Energy by 58.4% during the 4th quarter. BNP Paribas Financial Markets now owns 56,815 shares of the company’s stock valued at $1,031,000 after acquiring an additional 20,939 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Liberty Energy by 28.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,719 shares of the company’s stock worth $249,000 after purchasing an additional 3,059 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Liberty Energy by 70.8% in the fourth 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 during the last quarter. Finally, Norges Bank purchased a new stake in Liberty Energy in the fourth quarter valued at approximately $13,877,000. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LBRT has been the subject of a number of recent analyst reports. Barclays reduced their price objective on Liberty Energy from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Tuesday, July 23rd. Citigroup upgraded shares of Liberty Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $24.00 to $32.00 in a research report on Wednesday, May 29th. Piper Sandler lowered their price objective on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report 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 for the company in a research report on Friday, July 19th. Finally, Bank of America lowered their price target on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.78.

Check Out Our Latest Analysis on LBRT

About Liberty Energy

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