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 company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $19.77, for a total transaction of $395,400.00. Following the completion of the sale, the chief executive officer now directly owns 2,638,813 shares in the company, valued at $52,169,333.01. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Liberty Energy Trading Up 0.0 %

LBRT stock traded up $0.01 on Friday, hitting $20.51. 1,110,215 shares of the company were exchanged, compared to its average volume of 2,493,833. 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 $3.42 billion, a price-to-earnings ratio of 7.48, a price-to-earnings-growth ratio of 1.24 and a beta of 1.68. Liberty Energy Inc. has a twelve month low of $16.33 and a twelve month high of $24.75. The business’s fifty day moving average is $20.44 and its two-hundred day moving average is $21.37.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company posted $0.87 EPS. The business’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, research analysts forecast that Liberty Energy Inc. will post 2.18 earnings per share for the current year.

Liberty Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.37%. Liberty Energy’s dividend payout ratio (DPR) is 10.22%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on LBRT shares. Barclays dropped their price target on Liberty Energy from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Citigroup reduced their target price on shares of Liberty Energy from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday. Bank of America decreased their price target 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. TD Cowen cut their price objective on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research report on Friday, July 19th. Finally, Piper Sandler decreased their target price on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Institutional Trading of Liberty Energy

Institutional investors have recently modified their holdings of the company. Foundry Partners LLC raised its holdings in Liberty Energy by 15.6% in the first quarter. Foundry Partners LLC now owns 209,056 shares of the company’s stock valued at $4,332,000 after buying an additional 28,153 shares during the period. Russell Investments Group Ltd. grew its stake in Liberty Energy by 114.2% during the first quarter. Russell Investments Group Ltd. now owns 174,265 shares of the company’s stock worth $3,611,000 after buying an additional 92,923 shares during the period. Hennessy Advisors Inc. increased its position in shares of Liberty Energy by 14.1% in the first quarter. Hennessy Advisors Inc. now owns 1,338,400 shares of the company’s stock worth $27,732,000 after acquiring an additional 165,400 shares in the last quarter. LSV Asset Management raised its stake in shares of Liberty Energy by 60.2% in the 1st quarter. LSV Asset Management now owns 1,437,041 shares of the company’s stock valued at $29,775,000 after acquiring an additional 539,861 shares during the period. Finally, Edgestream Partners L.P. purchased a new position in shares of Liberty Energy in the 1st quarter valued at $690,000. Hedge funds and other institutional investors own 98.22% 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.