Christopher A. Wright Sells 12,000 Shares of Liberty Energy Inc. (NYSE:LBRT) Stock

Liberty Energy Inc. (NYSE:LBRT) CEO Christopher A. Wright sold 12,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.44, for a total transaction of $209,280.00. Following the completion of the sale, the chief executive officer now owns 2,606,813 shares of the company’s stock, valued at approximately $45,462,818.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Liberty Energy Stock Down 1.4 %

LBRT stock opened at $17.68 on Friday. The firm’s fifty day simple moving average is $19.14 and its 200-day simple moving average is $20.81. Liberty Energy Inc. has a 12 month low of $16.57 and a 12 month high of $24.75. The company has a market capitalization of $2.89 billion, a P/E ratio of 8.42 and a beta of 1.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.97.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the company posted $0.85 earnings per share. The business’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, equities research analysts forecast that Liberty Energy Inc. will post 1.75 earnings per share for the current year.

Liberty Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend 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 1.81%. Liberty Energy’s dividend payout ratio is 15.24%.

Wall Street Analysts Forecast Growth

LBRT has been the subject of several recent analyst reports. Royal Bank of Canada reduced their price objective on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Wells Fargo & Company reduced their price objective on shares of Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. 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. Evercore ISI raised shares of Liberty Energy to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Piper Sandler dropped their target price on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.89.

Institutional Trading of Liberty Energy

Hedge funds have recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new position in Liberty Energy during the second quarter worth $32,000. Covestor Ltd raised its position in shares of Liberty Energy by 96.8% in the third quarter. Covestor Ltd now owns 1,704 shares of the company’s stock valued at $33,000 after buying an additional 838 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Liberty Energy by 69.2% in the second quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock valued at $36,000 after buying an additional 713 shares during the last quarter. nVerses Capital LLC raised its position in shares of Liberty Energy by 45.0% in the second quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock valued at $61,000 after buying an additional 900 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of Liberty Energy by 93.2% in the third quarter. US Bancorp DE now owns 4,180 shares of the company’s stock valued at $80,000 after buying an additional 2,016 shares during the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.

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.