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

Liberty Energy (NYSE:LBRT) issued its quarterly earnings data on Wednesday. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06), Briefing.com reports. The firm 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 32.28% and a net margin of 11.72%. The company’s revenue was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 EPS.

Liberty Energy Stock Down 0.3 %

Shares of LBRT opened at $21.52 on Thursday. Liberty Energy has a one year low of $11.62 and a one year high of $23.23. The company has a market cap of $3.59 billion, a P/E ratio of 6.81, a P/E/G ratio of 1.05 and a beta of 1.85. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.49 and a quick ratio of 1.17. The firm has a 50 day simple moving average of $21.09 and a two-hundred day simple moving average of $19.63.

Liberty Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, June 6th. This represents a $0.28 annualized dividend and a yield of 1.30%. Liberty Energy’s dividend payout ratio is currently 8.86%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LBRT. Wells Fargo & Company cut their price target on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, December 21st. Morgan Stanley boosted 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. Piper Sandler boosted their price target on Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Finally, Bank of America boosted their price target on Liberty Energy from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.67.

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, CAO Ryan T. Gosney sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were 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 directly owns 140,706 shares in the company, valued at $2,884,473. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Ryan T. Gosney sold 6,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were 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 directly owns 140,706 shares in the company, valued at $2,884,473. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $20.27, for a total transaction of $405,400.00. Following the transaction, the chief executive officer now owns 2,830,402 shares of the company’s stock, valued at $57,372,248.54. The disclosure for this sale can be found here. Insiders sold a total of 98,459 shares of company stock worth $2,077,491 over the last three months. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. KBC Group NV acquired a new stake in Liberty Energy in the fourth quarter valued at $55,000. West Tower Group LLC acquired a new stake in Liberty Energy in the fourth quarter valued at $56,000. PNC Financial Services Group Inc. increased its holdings in Liberty Energy by 27.7% in 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 period. US Bancorp DE increased its holdings in Liberty Energy by 71.4% in the fourth quarter. US Bancorp DE now owns 3,896 shares of the company’s stock valued at $71,000 after purchasing an additional 1,623 shares during the period. Finally, Quarry LP increased its holdings in Liberty Energy by 111.0% in the second quarter. Quarry LP now owns 3,965 shares of the company’s stock valued at $53,000 after purchasing an additional 2,086 shares during the period. 98.22% of the stock is currently owned by institutional investors and hedge funds.

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.