Liberty Energy (NYSE:LBRT) Issues Earnings Results

Liberty Energy (NYSE:LBRT) issued its quarterly earnings results on Wednesday. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01, Zacks reports. Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. The company had revenue of $977.46 million during the quarter, compared to analyst estimates of $960.64 million. During the same period in the previous year, the company earned $0.48 earnings per share.

Liberty Energy Price Performance

Shares of LBRT stock opened at $12.05 on Friday. The stock’s fifty day moving average is $14.82 and its 200-day moving average is $17.64. The stock has a market capitalization of $1.95 billion, a PE ratio of 6.44 and a beta of 1.18. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.97 and a current ratio of 1.27. Liberty Energy has a 52 week low of $9.50 and a 52 week high of $24.75.

Liberty Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Friday, June 6th. Liberty Energy’s dividend payout ratio is currently 17.11%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LBRT. Seaport Res Ptn upgraded shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a report on Sunday, January 5th. Royal Bank of Canada cut Liberty Energy from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $24.00 to $19.00 in a report on Monday, March 24th. Stifel Nicolaus decreased their price objective on Liberty Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday. Morgan Stanley upgraded Liberty Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $20.00 to $25.00 in a research note on Thursday, March 27th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $11.00 target price (down from $20.00) on shares of Liberty Energy in a research report on Tuesday, April 8th. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.40.

Insiders Place Their Bets

In other Liberty Energy news, CFO Michael Stock sold 10,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $17.94, for a total value of $179,400.00. Following the transaction, the chief financial officer now directly owns 717,292 shares in the company, valued at approximately $12,868,218.48. This trade represents a 1.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.90% 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.