Liberty Energy Inc. (NYSE:LBRT) Announces Quarterly Dividend of $0.08

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

Liberty Energy has a dividend payout ratio of 20.1% indicating that its dividend is sufficiently covered by earnings. 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 Performance

Shares of LBRT opened at $22.18 on Thursday. The company has a current ratio of 1.23, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 10.56 and a beta of 1.66. The stock has a 50 day moving average of $19.46 and a 200 day moving average of $19.78. Liberty Energy has a 12 month low of $16.57 and a 12 month high of $24.75.

Insider Transactions at Liberty Energy

In related news, CEO Christopher A. Wright sold 2,936 shares of Liberty Energy stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $19.16, for a total transaction of $56,253.76. Following the completion of the sale, the chief executive officer now owns 2,543,877 shares of the company’s stock, valued at approximately $48,740,683.32. This trade represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Stock sold 5,000 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.00, for a total value of $115,000.00. Following the sale, the chief financial officer now owns 675,207 shares in the company, valued at $15,529,761. The trade was a 0.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,973 shares of company stock valued at $1,586,335 over the last three months. Company insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Royal Bank of Canada reduced their price objective on Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Seaport Res Ptn raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a report on Sunday, January 5th. TD Cowen reduced their price objective on Liberty Energy from $18.00 to $16.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Stifel Nicolaus reduced their price objective on Liberty Energy from $25.00 to $23.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Wells Fargo & Company reduced their price objective on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.20.

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.