Liberty Energy Inc. (NYSE:LBRT) CEO Christopher A. Wright Sells 20,000 Shares

Liberty Energy Inc. (NYSE:LBRT) CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $21.64, for a total value of $432,800.00. Following the completion of the transaction, the chief executive officer now owns 2,818,814 shares of the company’s stock, valued at $60,999,134.96. The transaction was disclosed in a filing with the SEC, which is available at this link.

Liberty Energy Stock Performance

Shares of NYSE:LBRT traded up $0.31 during midday trading on Friday, reaching $21.64. 2,733,049 shares of the company’s stock traded hands, compared to its average volume of 2,936,540. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.48. Liberty Energy Inc. has a one year low of $11.62 and a one year high of $23.31. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 7.90, a P/E/G ratio of 1.07 and a beta of 1.83. The stock has a 50 day moving average of $21.55 and a 200 day moving average of $19.98.

Liberty Energy (NYSE:LBRT) last posted its earnings results on Thursday, April 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.06). Liberty Energy had a net margin of 10.43% and a return on equity of 26.46%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the company posted $0.90 EPS. Liberty Energy’s revenue was down 12.8% on a year-over-year basis. As a group, equities research analysts anticipate that Liberty Energy Inc. will post 2.52 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be paid a dividend of $0.07 per share. The ex-dividend date is Wednesday, June 5th. This represents a $0.28 dividend on an annualized basis and a yield of 1.29%. Liberty Energy’s dividend payout ratio is presently 10.22%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LBRT. Vanguard Group Inc. raised its holdings in Liberty Energy by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 20,546,529 shares of the company’s stock worth $380,522,000 after purchasing an additional 893,563 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Liberty Energy by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,443,849 shares of the company’s stock valued at $171,314,000 after acquiring an additional 404,211 shares during the period. Pacer Advisors Inc. increased its holdings in Liberty Energy by 93.9% in the 4th quarter. Pacer Advisors Inc. now owns 4,587,073 shares of the company’s stock worth $83,210,000 after acquiring an additional 2,221,588 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Liberty Energy by 53.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,244,480 shares of the company’s stock worth $41,568,000 after acquiring an additional 778,111 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Liberty Energy by 12.4% during the 3rd quarter. American Century Companies Inc. now owns 2,241,076 shares of the company’s stock worth $41,505,000 after acquiring an additional 247,074 shares during the period. 98.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LBRT shares. Bank of America boosted their target price on Liberty Energy from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. Piper Sandler raised their target price on shares of Liberty Energy from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. TD Cowen raised their price objective on shares of Liberty Energy from $19.00 to $21.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Barclays upped their target price on Liberty Energy from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, Royal Bank of Canada lifted their price target on Liberty Energy from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.30.

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.