Liberty Energy (NYSE:LBRT) Releases Earnings Results, Misses Expectations By $0.06 EPS

Liberty Energy (NYSE:LBRT) announced its quarterly earnings data on Thursday. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.06), Briefing.com reports. Liberty Energy had a net margin of 10.43% and a return on equity of 26.46%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the company earned $0.90 earnings per share. The company’s quarterly revenue was down 12.8% on a year-over-year basis.

Liberty Energy Stock Up 1.2 %

Liberty Energy stock opened at $22.37 on Friday. Liberty Energy has a fifty-two week low of $11.62 and a fifty-two week high of $23.31. The firm has a market capitalization of $3.73 billion, a PE ratio of 8.16, a P/E/G ratio of 1.08 and a beta of 1.85. The company’s 50-day moving average is $21.20 and its 200-day moving average is $19.68. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.48 and a quick ratio of 1.17.

Liberty Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Wednesday, June 5th. Liberty Energy’s dividend payout ratio is currently 10.22%.

Wall Street Analyst Weigh In

LBRT has been the topic of a number of analyst reports. TD Cowen increased their price target on Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a research note on Friday. Bank of America increased their target price on Liberty Energy from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. Wells Fargo & Company boosted their target price on Liberty Energy from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday. Morgan Stanley upped their price target on Liberty Energy from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Finally, Piper Sandler lifted their price objective on shares of Liberty Energy from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Liberty Energy presently has an average rating of “Moderate Buy” and a consensus target price of $24.30.

Insider Buying and Selling

In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $22.66, for a total value of $453,200.00. Following the sale, the chief executive officer now owns 2,858,814 shares in the company, valued at $64,780,725.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director William F. Kimble sold 12,459 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $21.55, for a total value of $268,491.45. Following the transaction, the director now directly owns 69,963 shares of the company’s stock, valued at $1,507,702.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $22.66, for a total transaction of $453,200.00. Following the sale, the chief executive officer now directly owns 2,858,814 shares of the company’s stock, valued at approximately $64,780,725.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,459 shares of company stock worth $2,077,491. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. KBC Group NV acquired a new position in shares of Liberty Energy in the fourth quarter valued at approximately $55,000. West Tower Group LLC bought a new stake in Liberty Energy in the 4th quarter valued at $56,000. PNC Financial Services Group Inc. grew 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 buying an additional 709 shares in the last quarter. US Bancorp DE increased its position in Liberty Energy by 71.4% during the 4th quarter. US Bancorp DE now owns 3,896 shares of the company’s stock worth $71,000 after buying an additional 1,623 shares during the period. Finally, Quarry LP lifted its holdings in shares of Liberty Energy by 111.0% during the second quarter. Quarry LP now owns 3,965 shares of the company’s stock worth $53,000 after buying an additional 2,086 shares in the last quarter. 98.22% of the stock is owned by institutional investors.

About Liberty Energy

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.