Michael Stock Sells 5,000 Shares of Liberty Energy Inc. (NYSE:LBRT) Stock

Liberty Energy Inc. (NYSE:LBRT) CFO Michael Stock sold 5,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $18.45, for a total value of $92,250.00. Following the completion of the transaction, the chief financial officer now owns 720,207 shares of the company’s stock, valued at $13,287,819.15. 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 accessible through this link.

Michael Stock also recently made the following trade(s):

• On Friday, November 1st, Michael Stock sold 5,000 shares of Liberty Energy stock. The shares were sold at an average price of $17.21, for a total value of $86,050.00.
• On Tuesday, October 1st, Michael Stock sold 15,000 shares of Liberty Energy stock. The stock was sold at an average price of $19.23, for a total value of $288,450.00.
• On Wednesday, September 18th, Michael Stock sold 5,000 shares of Liberty Energy stock. The stock was sold at an average price of $21.01, for a total value of $105,050.00.
• On Tuesday, September 3rd, Michael Stock sold 15,000 shares of Liberty Energy stock. The stock was sold at an average price of $20.01, for a total value of $300,150.00.

Liberty Energy Stock Down 1.4 %

Shares of NYSE:LBRT opened at $17.68 on Friday. The stock has a market cap 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. Liberty Energy Inc. has a 12-month low of $16.57 and a 12-month high of $24.75. The business’s 50 day moving average is $19.14 and its 200 day moving average is $20.82.

Liberty Energy (NYSE:LBRT) last announced its 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). The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 EPS. On average, sell-side analysts forecast that Liberty Energy Inc. will post 1.75 earnings per share for the current fiscal year.

Liberty Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.08 per share. This is a boost 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 presently 13.33%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Canoe Financial LP boosted its position in Liberty Energy by 20.4% in the third quarter. Canoe Financial LP now owns 4,124,695 shares of the company’s stock worth $79,408,000 after purchasing an additional 699,500 shares during the last quarter. American Century Companies Inc. boosted its position in Liberty Energy by 17.6% in the second quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock worth $82,754,000 after purchasing an additional 594,051 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Liberty Energy by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 2,634,256 shares of the company’s stock worth $55,030,000 after purchasing an additional 67,362 shares during the last quarter. Hennessy Advisors Inc. boosted its position in Liberty Energy by 48.0% in the second quarter. Hennessy Advisors Inc. now owns 1,981,100 shares of the company’s stock worth $41,385,000 after purchasing an additional 642,700 shares during the last quarter. Finally, LSV Asset Management boosted its position in Liberty Energy by 19.5% in the second quarter. LSV Asset Management now owns 1,717,591 shares of the company’s stock worth $35,880,000 after purchasing an additional 280,550 shares during the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LBRT. Wells Fargo & Company lowered their price objective on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Atb Cap Markets downgraded Liberty Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Bank of America lowered their target price on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Piper Sandler lowered their target price on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, Stifel Nicolaus lowered their target price on Liberty Energy from $26.00 to $25.00 and set a “buy” rating for the company in a report on Friday, October 18th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average 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.