Insider Selling: Liberty Energy Inc. (NYSE:LBRT) CEO Sells $209,280.00 in Stock

Liberty Energy Inc. (NYSE:LBRT) CEO Christopher A. Wright sold 12,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $17.44, for a total value of $209,280.00. Following the completion of the sale, the chief executive officer now directly owns 2,606,813 shares in the company, valued at approximately $45,462,818.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Liberty Energy Stock Performance

Shares of NYSE LBRT opened at $17.68 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 1.23. The company has a market cap of $2.89 billion, a P/E ratio of 8.42 and a beta of 1.70. The firm’s fifty day moving average is $19.14 and its two-hundred day moving average is $20.81. Liberty Energy Inc. has a 52-week low of $16.57 and a 52-week high of $24.75.

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 analysts’ consensus estimates of $0.55 by ($0.10). The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The business’s revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 earnings per share. As a group, analysts anticipate that Liberty Energy Inc. will post 1.75 EPS for the current fiscal year.

Liberty Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.08 dividend. This is a boost 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 1.81%. The ex-dividend date is Friday, December 6th. Liberty Energy’s dividend payout ratio (DPR) is presently 15.24%.

Hedge Funds Weigh In On Liberty Energy

A number of institutional investors and hedge funds have recently made changes to their positions in LBRT. BNP Paribas Financial Markets grew its stake in shares of 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 buying an additional 79,709 shares in the last quarter. 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 purchasing an additional 931 shares during the period. Capstone Investment Advisors LLC bought a new stake in Liberty Energy during the 1st quarter valued at about $329,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Liberty Energy during the 1st quarter valued at about $567,000. Finally, Gallacher Capital Management LLC bought a new stake in Liberty Energy during the 1st quarter valued at about $206,000. 98.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on LBRT. Citigroup cut Liberty Energy from a “buy” rating to a “neutral” rating and cut their target price for the stock from $25.00 to $19.00 in a research note on Friday, October 18th. Stifel Nicolaus dropped their price objective on Liberty Energy from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Evercore ISI raised Liberty Energy to a “strong-buy” rating in a research report on Thursday, October 17th. Bank of America dropped their price objective on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Finally, Atb Cap Markets cut Liberty Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Liberty Energy currently has a consensus rating of “Moderate Buy” and an average target price 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.