Liberty Energy (NYSE:LBRT) Issues Quarterly Earnings Results

Liberty Energy (NYSE:LBRT) released its earnings results on Wednesday. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.10), Briefing.com reports. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 earnings per share.

Liberty Energy Stock Performance

NYSE:LBRT opened at $18.30 on Friday. The company has a market capitalization of $3.05 billion, a PE ratio of 6.68, a P/E/G ratio of 1.20 and a beta of 1.68. Liberty Energy has a fifty-two week low of $16.69 and a fifty-two week high of $24.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35. The company has a 50 day simple moving average of $20.08 and a two-hundred day simple moving average of $21.34.

Liberty Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.08 dividend. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Friday, December 6th. Liberty Energy’s payout ratio is currently 11.68%.

Insider Activity

In related news, CFO Michael Stock sold 20,000 shares of Liberty Energy stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $22.92, for a total transaction of $458,400.00. Following the completion of the transaction, the chief financial officer now owns 765,207 shares of the company’s stock, valued at $17,538,544.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 95,000 shares of company stock valued at $1,945,650. 3.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on LBRT. Barclays lowered their price target on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Wednesday. Stifel Nicolaus decreased their target price on shares of Liberty Energy from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. TD Cowen lowered their price target on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a report on Friday, July 19th. Citigroup downgraded Liberty Energy from a “buy” rating to a “neutral” rating and cut their price objective for the company from $25.00 to $19.00 in a report on Friday. Finally, Piper Sandler reduced their price objective 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. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Liberty Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

Liberty Energy Company Profile

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.