Liberty Energy Inc. (NYSE:LBRT) Raises Dividend to $0.10 Per Share

Key Points

• Liberty Energy raised its quarterly dividend 11.1% to $0.10 per share, equivalent to $0.40 annually and a 2.4% yield. The dividend is payable December 18 to shareholders of record as of December 4.
• The dividend’s sustainability may be a concern: Liberty’s current payout ratio is 78.3%, while analysts’ projected earnings imply a potential future payout ratio of 300%.
• Liberty reported quarterly EPS of $0.09, exceeding estimates by $0.01, while revenue rose 14% year over year to $1.19 billion. Shares recently traded at $16.79, well below their 52-week high of $34.48.

Liberty Energy Inc. (NYSE:LBRT - Get Free Report) announced a quarterly dividend on Tuesday, October 20th. Shareholders of record on Friday, December 4th will be given a dividend of $0.10 per share on Friday, December 18th. This represents a $0.40 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, December 4th. This is a 11.1% increase from Liberty Energy's previous quarterly dividend of $0.09.

Liberty Energy has increased its dividend by an average of 0.5% annually over the last three years and has raised its dividend every year for the last 2 years. Liberty Energy has a payout ratio of 78.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Equities analysts expect Liberty Energy to earn $0.12 per share next year, which means the company may not be able to cover its $0.36 annual dividend with an expected future payout ratio of 300.0%.

Liberty Energy Price Performance

Shares of NYSE LBRT traded up $0.21 during trading on Wednesday, reaching $16.79. The company had a trading volume of 1,301,434 shares, compared to its average volume of 4,238,773. Liberty Energy has a 52 week low of $14.76 and a 52 week high of $34.48. The business's 50 day moving average price is $19.40 and its 200-day moving average price is $24.45. The stock has a market cap of $2.74 billion, a PE ratio of 22.68, a PEG ratio of 2.99 and a beta of 0.71. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.75 and a current ratio of 1.99.

Liberty Energy (NYSE:LBRT - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.09 billion. Liberty Energy had a net margin of 2.92% and a return on equity of 1.14%. Liberty Energy's revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 earnings per share. Analysts expect that Liberty Energy will post 0.29 earnings per share for the current year.

Liberty Energy Company Profile

Liberty Energy Inc is an oilfield services company that provides completion and production services to exploration and production companies. Its primary business is hydraulic fracturing, a well-stimulation technique used to improve the flow of oil and natural gas from unconventional reservoirs.

The company also offers wireline services, well diagnostics, frac data analysis, engineering support, and related technologies designed to help customers plan, execute, and evaluate well-completion operations.

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