Liberty Energy Inc. (NYSE:LBRT) to Issue $0.08 Quarterly Dividend

Liberty Energy Inc. (NYSE:LBRT) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders of record on Thursday, March 6th will be given a dividend of 0.08 per share on Thursday, March 20th. This represents a $0.32 annualized dividend and a dividend yield of 1.44%.

Liberty Energy has a payout ratio of 20.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Liberty Energy to earn $0.98 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 32.7%.

Liberty Energy Stock Down 2.0 %

LBRT opened at $22.18 on Thursday. The company has a market cap of $3.62 billion, a P/E ratio of 10.56 and a beta of 1.66. The business’s 50-day moving average price is $19.46 and its 200-day moving average price is $19.78. The company has a current ratio of 1.23, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. Liberty Energy has a 12 month low of $16.57 and a 12 month high of $24.75.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LBRT. Evercore ISI upgraded Liberty Energy to a “strong-buy” rating in a report on Thursday, October 17th. The Goldman Sachs Group began coverage on Liberty Energy in a report on Friday, December 13th. They set a “neutral” rating and a $19.00 price target on the stock. Seaport Res Ptn upgraded Liberty Energy from a “hold” rating to a “strong-buy” rating in a report on Sunday, January 5th. Stifel Nicolaus reduced their price target on Liberty Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Wells Fargo & Company reduced their price target on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Liberty Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.20.

Insider Buying and Selling at Liberty Energy

In other news, CFO Michael Stock sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $20.82, for a total value of $416,400.00. Following the sale, the chief financial officer now directly owns 680,207 shares of the company’s stock, valued at $14,161,909.74. The trade was a 2.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christopher A. Wright sold 2,037 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $18.15, for a total value of $36,971.55. Following the completion of the sale, the chief executive officer now directly owns 2,578,813 shares in the company, valued at approximately $46,805,455.95. This represents a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,973 shares of company stock valued at $1,586,335. 3.60% of the stock is currently 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.