Insider Selling: Liberty Energy Inc. (NYSE:LBRT) CEO Sells $36,971.55 in Stock

Liberty Energy Inc. (NYSE:LBRT) CEO Christopher A. Wright sold 2,037 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $18.15, for a total transaction of $36,971.55. Following the completion of the sale, the chief executive officer now directly owns 2,578,813 shares of the company’s stock, valued at approximately $46,805,455.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Liberty Energy Trading Down 1.4 %

Shares of LBRT opened at $17.68 on Friday. The business’s 50-day moving average price is $19.14 and its 200 day moving average price is $20.81. 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 stock has a market capitalization of $2.89 billion, a P/E ratio of 8.42 and a beta of 1.70. Liberty Energy Inc. has a 1-year low of $16.57 and a 1-year high of $24.75.

Liberty Energy (NYSE:LBRT) last announced its earnings results on Wednesday, October 16th. The company reported $0.45 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. Analysts expect that Liberty Energy Inc. will post 1.75 earnings per share for the current year.

Liberty Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.81%. This is a boost from Liberty Energy’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, December 6th. Liberty Energy’s payout ratio is presently 15.24%.

Analysts Set New Price Targets

Several brokerages recently commented on LBRT. Wells Fargo & Company dropped their target price on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. TD Cowen dropped their price objective on Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. Evercore ISI raised Liberty Energy to a “strong-buy” rating in a research note on Thursday, October 17th. Bank of America lowered their target price on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Finally, Stifel Nicolaus cut their price target on shares of Liberty Energy from $26.00 to $25.00 and set a “buy” rating for the company in a report on Friday, October 18th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Liberty Energy currently has a consensus rating of “Moderate Buy” and an average target price of $22.89.

Institutional Trading of Liberty Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. EdgeRock Capital LLC purchased a new position in shares of Liberty Energy during the second quarter valued at $32,000. Covestor Ltd lifted its stake in Liberty Energy by 96.8% in the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company’s stock worth $33,000 after acquiring an additional 838 shares in the last quarter. GAMMA Investing LLC boosted its position in Liberty Energy by 69.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock worth $36,000 after acquiring an additional 713 shares during the period. nVerses Capital LLC grew its stake in Liberty Energy by 45.0% during the 2nd quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock valued at $61,000 after acquiring an additional 900 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of Liberty Energy by 93.2% in the 3rd quarter. US Bancorp DE now owns 4,180 shares of the company’s stock valued at $80,000 after purchasing an additional 2,016 shares during the period. Institutional investors and hedge funds own 98.22% of the company’s stock.

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.