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

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

Liberty Energy Stock Up 1.2 %

Shares of Liberty Energy stock opened at $22.37 on Friday. Liberty Energy has a 1-year low of $11.62 and a 1-year high of $23.31. The company has a market capitalization of $3.73 billion, a P/E ratio of 8.16, a PEG ratio of 1.08 and a beta of 1.85. The business’s fifty day moving average price is $21.20 and its two-hundred day moving average price 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be given a $0.07 dividend. This represents a $0.28 annualized dividend 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

Several equities research analysts recently issued reports on the company. Piper Sandler upped their price target on Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Morgan Stanley increased their target price on shares of Liberty Energy from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Barclays raised their price target on shares of Liberty Energy from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday. Bank of America raised their target price on shares of Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Finally, Royal Bank of Canada upped their target price on Liberty Energy from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.30.

Insider Transactions at Liberty Energy

In related news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction dated Thursday, April 4th. The shares were 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 in the company, valued at $64,780,725.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Ryan T. Gosney sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total transaction of $123,000.00. Following the completion of the transaction, the chief accounting officer now owns 140,706 shares of the company’s stock, valued at $2,884,473. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value of $453,200.00. Following the transaction, the chief executive officer now directly owns 2,858,814 shares in the company, valued at $64,780,725.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 98,459 shares of company stock valued at $2,077,491. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Liberty Energy

Several large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its stake in Liberty Energy by 27.7% during the fourth 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 during the last quarter. Rhumbline Advisers boosted its holdings in shares of Liberty Energy by 0.7% in the first quarter. Rhumbline Advisers now owns 121,187 shares of the company’s stock worth $1,796,000 after buying an additional 863 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Liberty Energy by 42.7% during the third quarter. Tower Research Capital LLC TRC now owns 5,307 shares of the company’s stock valued at $98,000 after acquiring an additional 1,589 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in shares of Liberty Energy by 14.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 12,564 shares of the company’s stock valued at $168,000 after acquiring an additional 1,616 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of Liberty Energy by 71.4% in the 4th quarter. US Bancorp DE now owns 3,896 shares of the company’s stock valued at $71,000 after acquiring an additional 1,623 shares in the last quarter. Institutional investors own 98.22% of the company’s stock.

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.