Insider Selling: Liberty Energy (NYSE:LBRT) CFO Sells $132,253.44 in Stock

Key Points

• Liberty Energy CFO Michael Stock sold 6,666 shares at an average price of $19.84, generating $132,253.44. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, and he retained 760,379 shares.
• Liberty Energy’s shares rose 1.7% to $20.05, while the company’s latest quarterly results beat expectations with earnings of $0.09 per share and revenue of $1.19 billion.
• The company declared a quarterly dividend of $0.09 per share, equal to a 1.8% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $30.

Liberty Energy Inc. (NYSE:LBRT - Get Free Report) CFO Michael Stock sold 6,666 shares of the company's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $19.84, for a total transaction of $132,253.44. Following the sale, the chief financial officer directly owned 760,379 shares of the company's stock, valued at approximately $15,085,919.36. This trade represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Stock also recently made the following trade(s):

• On Monday, August 3rd, Michael Stock sold 3,333 shares of Liberty Energy stock. The shares were sold at an average price of $17.95, for a total value of $59,827.35.
• On Wednesday, July 1st, Michael Stock sold 9,999 shares of Liberty Energy stock. The shares were sold at an average price of $25.89, for a total value of $258,874.11.

Liberty Energy Stock Up 1.7%

Shares of LBRT traded up $0.34 during midday trading on Tuesday, reaching $20.05. 2,782,749 shares of the company were exchanged, compared to its average volume of 4,322,577. The stock has a 50-day moving average price of $21.91 and a 200-day moving average price of $26.78. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 27.09, a P/E/G ratio of 2.78 and a beta of 0.60. Liberty Energy Inc. has a 1-year low of $9.90 and a 1-year high of $34.48. The company has a current ratio of 1.99, a quick ratio of 1.75 and a debt-to-equity ratio of 0.74.

Liberty Energy (NYSE:LBRT - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.09 billion. Liberty Energy had a return on equity of 1.14% and a net margin of 2.92%.The company's revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.12 earnings per share. Research analysts expect that Liberty Energy Inc. will post 0.33 earnings per share for the current year.

Liberty Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be given a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.36 annualized dividend and a yield of 1.8%. Liberty Energy's dividend payout ratio (DPR) is 48.65%.

Analyst Ratings Changes

A number of research firms have recently issued reports on LBRT. Barclays lifted their price objective on shares of Liberty Energy from $29.00 to $32.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Zacks Research lowered shares of Liberty Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 21st. Wall Street Zen downgraded shares of Liberty Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Weiss Ratings reiterated a "hold (c)" rating on shares of Liberty Energy in a report on Wednesday, July 29th. Finally, UBS Group reissued a "buy" rating on shares of Liberty Energy in a research report on Friday, June 26th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $30.00.

Institutional Trading of Liberty Energy

A number of hedge funds have recently made changes to their positions in LBRT. Root Financial Partners LLC boosted its stake in Liberty Energy by 79.6% during the 1st quarter. Root Financial Partners LLC now owns 914 shares of the company's stock valued at $26,000 after acquiring an additional 405 shares during the last quarter. Valued Wealth Advisors LLC acquired a new stake in shares of Liberty Energy in the 1st quarter valued at about $26,000. Summit Securities Group LLC bought a new position in shares of Liberty Energy during the first quarter worth about $28,000. GHP Investment Advisors Inc. acquired a new position in Liberty Energy in the first quarter worth about $39,000. Finally, Los Angeles Capital Management LLC bought a new stake in Liberty Energy in the fourth quarter valued at about $29,000. Institutional investors and hedge funds 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. As of as of December 31, 2023, the company owned and operated a fleet of approximately 40 active hydraulic fracturing; and two sand mines in the Permian Basin.

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