Liberty Energy (NYSE:LBRT) Releases Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Liberty Energy (NYSE:LBRT) posted its quarterly earnings results on Wednesday. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.10), Briefing.com reports. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm posted $0.85 earnings per share. The company’s quarterly revenue was down 6.4% on a year-over-year basis.

Liberty Energy Stock Up 1.3 %

LBRT stock opened at $20.06 on Thursday. The company has a 50 day moving average of $20.12 and a two-hundred day moving average of $21.36. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 7.32, a PEG ratio of 1.20 and a beta of 1.68. Liberty Energy has a 12-month low of $16.69 and a 12-month high of $24.75. The company has a quick ratio of 1.07, a current ratio of 1.35 and a debt-to-equity ratio of 0.17.

Liberty Energy Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, December 6th. This is an increase from Liberty Energy’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a yield of 1.60%. Liberty Energy’s payout ratio is presently 10.22%.

Insider Activity

In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $19.77, for a total value of $395,400.00. Following the transaction, the chief executive officer now owns 2,638,813 shares in the company, valued at $52,169,333.01. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $19.77, for a total transaction of $395,400.00. Following the transaction, the chief executive officer now owns 2,638,813 shares of the company’s stock, valued at approximately $52,169,333.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Stock sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $20.01, for a total transaction of $300,150.00. Following the completion of the sale, the chief financial officer now directly owns 750,207 shares of the company’s stock, valued at $15,011,642.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 95,000 shares of company stock worth $1,945,650 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LBRT shares. Piper Sandler decreased their price objective on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Citigroup cut their target price on Liberty Energy from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Bank of America decreased their price target on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Stifel Nicolaus reduced their price objective on shares of Liberty Energy from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Finally, TD Cowen dropped their target price on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

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.