Shares of Liberty Energy Inc. (NYSE:LBRT – Get Free Report) fell 4.2% during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $19.86 and last traded at $19.80. 271,600 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 2,719,748 shares. The stock had previously closed at $20.66.
The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%.
Liberty Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, March 6th. This represents a $0.32 annualized dividend and a dividend yield of 1.67%. Liberty Energy’s dividend payout ratio is 15.24%.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Report on Liberty Energy
Insiders Place Their Bets
In other Liberty Energy news, CFO Michael Stock sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $18.45, for a total value of $92,250.00. Following the completion of the transaction, the chief financial officer now owns 720,207 shares of the company’s stock, valued at $13,287,819.15. This represents a 0.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christopher A. Wright sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.44, for a total value 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 $45,462,818.72. This represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,973 shares of company stock valued at $1,500,285 in the last three months. Company insiders own 3.60% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Covestor Ltd lifted its stake in Liberty Energy by 96.8% during the third quarter. Covestor Ltd now owns 1,704 shares of the company’s stock worth $33,000 after purchasing an additional 838 shares during the period. Quarry LP raised its holdings in shares of Liberty Energy by 237.5% in the 3rd quarter. Quarry LP now owns 1,991 shares of the company’s stock worth $38,000 after buying an additional 1,401 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Liberty Energy by 604.9% in the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the company’s stock worth $47,000 after buying an additional 2,111 shares in the last quarter. Spire Wealth Management bought a new position in shares of Liberty Energy during the 4th quarter worth approximately $60,000. Finally, GAMMA Investing LLC boosted its stake in Liberty Energy by 82.1% in the 3rd quarter. GAMMA Investing LLC now owns 3,174 shares of the company’s stock valued at $61,000 after buying an additional 1,431 shares in the last quarter. 98.22% of the stock is currently owned by institutional investors and hedge funds.
Liberty Energy Stock Down 7.5 %
The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. The business has a 50-day simple moving average of $19.84 and a two-hundred day simple moving average of $19.79. The stock has a market capitalization of $3.12 billion, a P/E ratio of 9.10 and a beta of 1.66.
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.
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