Christopher A. Wright Sells 2,037 Shares of Liberty Energy Inc. (NYSE:LBRT) Stock

Liberty Energy Inc. (NYSE:LBRT) CEO Christopher A. Wright sold 2,037 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $18.15, for a total value of $36,971.55. Following the transaction, the chief executive officer now directly owns 2,578,813 shares of the company’s stock, valued at approximately $46,805,455.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Liberty Energy Price Performance

Shares of LBRT stock opened at $17.68 on Friday. Liberty Energy Inc. has a 12-month low of $16.57 and a 12-month high of $24.75. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 8.42 and a beta of 1.70. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. The firm has a fifty day moving average of $19.14 and a 200-day moving average of $20.82.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.10). Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm earned $0.85 EPS. Liberty Energy’s quarterly revenue was down 6.4% on a year-over-year basis. On average, equities research analysts forecast that Liberty Energy Inc. will post 1.75 earnings per share for the current year.

Liberty Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.08 dividend. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.32 annualized dividend and a dividend yield of 1.81%. Liberty Energy’s payout ratio is 13.33%.

Hedge Funds Weigh In On Liberty Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its stake in Liberty Energy by 140.3% in the 1st quarter. BNP Paribas Financial Markets now owns 136,524 shares of the company’s stock worth $2,829,000 after purchasing an additional 79,709 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Liberty Energy by 5.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,555 shares of the company’s stock worth $364,000 after buying an additional 931 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of Liberty Energy during the 1st quarter worth about $329,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Liberty Energy during the 1st quarter worth about $567,000. Finally, Gallacher Capital Management LLC acquired a new position in shares of Liberty Energy during the 1st quarter worth about $206,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Piper Sandler cut their price objective on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Atb Cap Markets lowered Liberty Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Citigroup lowered Liberty Energy from a “buy” rating to a “neutral” rating and cut their target price for the company from $25.00 to $19.00 in a report on Friday, October 18th. Royal Bank of Canada cut their target price on Liberty Energy from $26.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Finally, Evercore ISI upgraded Liberty Energy to a “strong-buy” rating in a research note on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.89.

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.