Liberty Energy (NYSE:LBRT) Releases Earnings Results, Misses Estimates By $0.10 EPS

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

Liberty Energy Stock Performance

NYSE LBRT opened at $20.06 on Thursday. The business has a 50 day moving average price of $20.12 and a 200 day moving average price of $21.36. The company has a market capitalization of $3.34 billion, a P/E ratio of 7.32, a PEG ratio of 1.20 and a beta of 1.68. Liberty Energy has a 1-year low of $16.69 and a 1-year high of $24.75. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 1.07.

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 paid a dividend of $0.08 per share. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, December 6th. This represents a $0.32 annualized dividend and a dividend yield of 1.60%. Liberty Energy’s payout ratio is 10.22%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LBRT. Bank of America dropped their price objective on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Stifel Nicolaus dropped their price target 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. Piper Sandler reduced their price objective on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Citigroup lowered their price objective on Liberty Energy from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Finally, TD Cowen cut their target price on Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Friday, July 19th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Insiders Place Their Bets

In other news, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $19.77, for a total value of $395,400.00. Following the sale, the chief executive officer now directly owns 2,638,813 shares in the company, valued at $52,169,333.01. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Liberty Energy news, CFO Michael Stock sold 5,000 shares of Liberty Energy stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $21.01, for a total value of $105,050.00. Following the completion of the sale, the chief financial officer now owns 745,207 shares in the company, valued at $15,656,799.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $19.77, for a total transaction of $395,400.00. Following the transaction, the chief executive officer now owns 2,638,813 shares in the company, valued at approximately $52,169,333.01. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,000 shares of company stock worth $1,945,650. 3.60% of the stock is owned by corporate insiders.

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.