Atb Cap Markets Analysts Decrease Earnings Estimates for Liberty Energy Inc. (NYSE:LBRT)

Liberty Energy Inc. (NYSE:LBRT) – Research analysts at Atb Cap Markets cut their Q3 2024 EPS estimates for Liberty Energy in a note issued to investors on Tuesday, October 1st. Atb Cap Markets analyst W. Syed now forecasts that the company will post earnings of $0.51 per share for the quarter, down from their prior forecast of $0.61. The consensus estimate for Liberty Energy’s current full-year earnings is $2.18 per share. Atb Cap Markets also issued estimates for Liberty Energy’s Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $1.93 EPS, Q1 2025 earnings at $0.36 EPS, Q2 2025 earnings at $0.51 EPS, FY2025 earnings at $1.94 EPS, Q1 2026 earnings at $0.42 EPS, Q2 2026 earnings at $0.58 EPS, Q3 2026 earnings at $0.63 EPS and FY2026 earnings at $2.20 EPS.

LBRT has been the subject of several other research reports. TD Cowen lowered their price target on Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a report on Friday, July 19th. Citigroup lowered their target price on shares of Liberty Energy from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday. Piper Sandler dropped their price target on shares of 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 decreased their price target on shares of Liberty Energy from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Finally, Bank of America dropped their price objective on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Liberty Energy Price Performance

Shares of NYSE:LBRT opened at $20.49 on Friday. The company has a market cap of $3.41 billion, a P/E ratio of 7.48, a P/E/G ratio of 1.24 and a beta of 1.68. The business has a fifty day simple moving average of $20.47 and a 200-day simple moving average of $21.38. Liberty Energy has a 52 week low of $16.33 and a 52 week high of $24.75. The company has a quick ratio of 1.07, a current ratio of 1.35 and a debt-to-equity ratio of 0.17.

Liberty Energy (NYSE:LBRT) last released its earnings results on Wednesday, July 17th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the company earned $0.87 EPS. Liberty Energy’s revenue for the quarter was down 2.9% on a year-over-year basis.

Institutional Investors Weigh In On Liberty Energy

A number of institutional investors have recently modified their holdings of the stock. Diversified Trust Co increased its holdings in Liberty Energy by 2.5% in the first quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock valued at $427,000 after buying an additional 507 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Liberty Energy by 4.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 14,262 shares of the company’s stock valued at $296,000 after acquiring an additional 543 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in Liberty Energy by 2.4% during the first quarter. Perigon Wealth Management LLC now owns 24,815 shares of the company’s stock worth $514,000 after purchasing an additional 571 shares during the last quarter. Andina Capital Management LLC lifted its stake in Liberty Energy by 3.9% during the second quarter. Andina Capital Management LLC now owns 18,599 shares of the company’s stock worth $389,000 after purchasing an additional 691 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Liberty Energy by 27.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock worth $59,000 after purchasing an additional 709 shares during the period. Institutional investors and hedge funds own 98.22% of the company’s stock.

Insider Buying and Selling

In other Liberty Energy news, CFO Michael Stock sold 15,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $19.23, for a total value of $288,450.00. Following the transaction, the chief financial officer now owns 730,207 shares in the company, valued at approximately $14,041,880.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Liberty Energy news, CFO Michael Stock sold 15,000 shares of Liberty Energy stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $19.23, for a total transaction of $288,450.00. Following the sale, the chief financial officer now directly owns 730,207 shares in the company, valued at approximately $14,041,880.61. The transaction was disclosed in a document filed 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 that occurred on Monday, September 16th. The shares were sold at an average price of $19.91, for a total value of $398,200.00. Following the transaction, the chief executive officer now owns 2,678,813 shares of the company’s stock, valued at $53,335,166.83. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,374 shares of company stock valued at $1,642,148. Corporate insiders own 3.60% of the company’s stock.

Liberty Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a $0.07 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.28 annualized dividend and a yield of 1.37%. Liberty Energy’s dividend payout ratio is currently 10.22%.

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.