Liberty Energy Inc. (LBRT) To Go Ex-Dividend on December 6th

Liberty Energy Inc. (NYSE:LBRT) announced a quarterly dividend on Tuesday, October 15th, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 1.60%. The ex-dividend date is Friday, December 6th. This is a boost from Liberty Energy’s previous quarterly dividend of $0.07.

Liberty Energy has raised its dividend by an average of 63.9% per year over the last three years. Liberty Energy has a payout ratio of 12.5% indicating that its dividend is sufficiently covered by earnings. 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 stock opened at $20.06 on Thursday. Liberty Energy has a 1-year low of $16.69 and a 1-year high of $24.75. The business has a fifty day moving average price of $20.12 and a 200-day moving average price of $21.36. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 1.07. The stock has a market capitalization of $3.34 billion, a P/E ratio of 7.32, a P/E/G ratio of 1.20 and a beta of 1.68.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.10). Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. Equities analysts forecast that Liberty Energy will post 2.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LBRT has been the subject of several recent analyst reports. Citigroup decreased their price target on Liberty Energy from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Bank of America reduced their price objective 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. Piper Sandler reduced their price objective on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Barclays reduced their price objective on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, TD Cowen reduced their price objective on Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research report on Friday, July 19th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Liberty Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Insider Transactions at Liberty Energy

In other news, CFO Michael Stock sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $20.01, for a total value of $300,150.00. Following the completion of the transaction, the chief financial officer now 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Michael Stock sold 15,000 shares of the 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 transaction, the chief financial officer now directly owns 750,207 shares of the company’s stock, valued at approximately $15,011,642.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $19.77, for a total value of $395,400.00. Following the transaction, the chief executive officer now directly owns 2,638,813 shares of the company’s stock, valued at approximately $52,169,333.01. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,000 shares of company stock valued at $1,945,650 over the last 90 days. Company insiders own 3.60% 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.