Insider Selling: Liberty Energy Inc. (NYSE:LBRT) CFO Sells $288,450.00 in Stock

05 Oct 2024, 21:43 by Danessa Lincoln · The Markets Daily

Liberty Energy Inc. (NYSE:LBRT – Get Free Report) 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 completion of the sale, the chief financial officer now owns 730,207 shares of the company’s stock, valued at approximately $14,041,880.61. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Michael Stock also recently made the following trade(s):

On Wednesday, September 18th, Michael Stock sold 5,000 shares of Liberty Energy stock. The shares were sold at an average price of $21.01, for a total transaction of $105,050.00.
On Tuesday, September 3rd, Michael Stock sold 15,000 shares of Liberty Energy stock. The stock was sold at an average price of $20.01, for a total transaction of $300,150.00.
On Thursday, August 1st, Michael Stock sold 20,000 shares of Liberty Energy stock. The shares were sold at an average price of $22.92, for a total value of $458,400.00.
On Thursday, July 11th, Michael Stock sold 4,374 shares of Liberty Energy stock. The stock was sold at an average price of $21.01, for a total value of $91,897.74.

Liberty Energy Price Performance

Shares of NYSE:LBRT opened at $20.51 on Friday. Liberty Energy Inc. has a 12 month low of $16.33 and a 12 month high of $24.75. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 7.49, a price-to-earnings-growth ratio of 1.24 and a beta of 1.68. The business’s 50 day simple moving average is $20.39 and its 200-day simple moving average is $21.37. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 1.07.

Liberty Energy (NYSE:LBRT – Get Free Report) last posted its earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share for the quarter, beating 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 revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.87 earnings per share. As a group, equities analysts forecast that Liberty Energy Inc. will post 2.18 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Friday, September 6th. Liberty Energy’s payout ratio is currently 10.22%.

Institutional Trading of Liberty Energy

Several large investors have recently modified their holdings of LBRT. Diversified Trust Co lifted its stake in Liberty Energy by 2.5% in the 1st quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock valued at $427,000 after buying an additional 507 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Liberty Energy by 4.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 14,262 shares of the company’s stock valued at $296,000 after acquiring an additional 543 shares during the last quarter. Perigon Wealth Management LLC increased its position in Liberty Energy by 2.4% during the 1st quarter. Perigon Wealth Management LLC now owns 24,815 shares of the company’s stock worth $514,000 after purchasing an additional 571 shares in the last quarter. Andina Capital Management LLC raised its stake in Liberty Energy by 3.9% in the 2nd quarter. Andina Capital Management LLC now owns 18,599 shares of the company’s stock valued at $389,000 after purchasing an additional 691 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Liberty Energy by 27.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after purchasing an additional 709 shares in the last quarter. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on LBRT shares. Citigroup dropped their price objective on shares of Liberty Energy from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday. Bank of America dropped their price target on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. TD Cowen reduced their price objective 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. Piper Sandler dropped their target price on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Finally, Barclays reduced their price target on Liberty Energy from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

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