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

Liberty Energy Inc. (NYSE:LBRT) announced a quarterly dividend on Wednesday, October 16th, Wall Street Journal reports. Stockholders of record on Friday, December 6th will be given a dividend of 0.08 per share on Friday, December 20th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Friday, December 6th. This is an increase from Liberty Energy’s previous quarterly dividend of $0.07.

Liberty Energy has increased its dividend by an average of 63.9% annually over the last three years. Liberty Energy has a payout ratio of 12.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Liberty Energy to earn $2.32 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 12.1%.

Liberty Energy Stock Up 1.3 %

LBRT opened at $20.06 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. The business’s fifty day simple moving average is $20.12 and its 200 day simple moving average is $21.36. Liberty Energy has a 52 week low of $16.69 and a 52 week high of $24.75. The stock has a market cap of $3.34 billion, a PE ratio of 7.32, a P/E/G ratio of 1.20 and a beta of 1.68.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 EPS. As a group, research analysts expect that Liberty Energy will post 2.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $19.91, for a total transaction of $398,200.00. Following the sale, the chief executive officer now owns 2,678,813 shares of the company’s stock, valued at approximately $53,335,166.83. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Michael Stock sold 15,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $19.23, for a total value of $288,450.00. Following the sale, the chief financial officer now directly owns 730,207 shares of the company’s stock, valued at $14,041,880.61. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $19.91, for a total transaction of $398,200.00. Following the completion of the transaction, the chief executive officer now owns 2,678,813 shares of the company’s stock, valued at approximately $53,335,166.83. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,000 shares of company stock worth $1,945,650. 3.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.