Christopher A. Wright Sells 20,000 Shares of Liberty Energy Inc. (NYSE:LBRT) Stock

Liberty Energy Inc. (NYSE:LBRT) CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 2,678,813 shares of the company’s stock, valued at $53,335,166.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Liberty Energy Stock Down 1.2 %

Shares of LBRT opened at $20.52 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35. The company has a 50-day simple moving average of $20.79 and a 200-day simple moving average of $21.45. Liberty Energy Inc. has a 52 week low of $16.33 and a 52 week high of $24.75. The firm has a market capitalization of $3.42 billion, a P/E ratio of 7.49, a P/E/G ratio of 1.11 and a beta of 1.69.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Wednesday, July 17th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. Liberty Energy’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.87 earnings per share. On average, equities research analysts expect that Liberty Energy Inc. will post 2.17 earnings per share for the current year.

Liberty Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, September 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.36%. Liberty Energy’s dividend payout ratio (DPR) is presently 10.22%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new stake in shares of Liberty Energy in the second quarter valued at $642,000. Maven Securities LTD bought a new position in shares of Liberty Energy in the second quarter worth about $251,000. Cetera Investment Advisers lifted its position in shares of Liberty Energy by 6.3% during the second quarter. Cetera Investment Advisers now owns 52,948 shares of the company’s stock worth $1,106,000 after purchasing an additional 3,132 shares in the last quarter. Truist Financial Corp grew its stake in shares of Liberty Energy by 13.4% during the second quarter. Truist Financial Corp now owns 90,862 shares of the company’s stock valued at $1,898,000 after purchasing an additional 10,766 shares during the last quarter. Finally, Creative Planning increased its holdings in shares of Liberty Energy by 28.6% in the second quarter. Creative Planning now owns 18,753 shares of the company’s stock valued at $392,000 after purchasing an additional 4,169 shares in the last quarter. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LBRT shares. Barclays cut their target price on shares of Liberty Energy from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Piper Sandler lowered their target price 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. TD Cowen dropped their target price on Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday, July 19th. Citigroup upgraded Liberty Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $24.00 to $32.00 in a report on Wednesday, May 29th. Finally, Bank of America cut their price objective on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.78.

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.