Liberty Energy (NYSE:LBRT) Stock: Insider Ron Gusek Purchases 25,000 Shares

Key Points

• CEO Ron Gusek bought 25,000 shares at an average price of $15.09, spending $377,250 and increasing his stake by 2.4% to 1,068,702 shares.
• Liberty Energy reported quarterly EPS of $0.06, in line with estimates, while revenue rose 26.3% year over year to $1.20 billion. The company raised its quarterly dividend from $0.09 to $0.10 per share.
• Shares recently traded at $11.29, near their 12-month low of $11.24; analysts’ consensus rating is “Moderate Buy,” with a $26.42 price target.

Liberty Energy Inc. (NYSE:LBRT - Get Free Report) CEO Ron Gusek acquired 25,000 shares of the business's stock in a transaction dated Tuesday, November 3rd. The shares were bought at an average price of $15.09 per share, for a total transaction of $377,250.00. Following the acquisition, the chief executive officer owned 1,068,702 shares of the company's stock, valued at approximately $16,126,713.18. This represents a 2.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Liberty Energy Stock Performance

LBRT stock traded down $1.85 during trading on Thursday, reaching $11.29. The company had a trading volume of 9,707,567 shares, compared to its average volume of 4,337,165. The firm has a 50-day simple moving average of $18.41 and a 200-day simple moving average of $24.52. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 47.06, a price-to-earnings-growth ratio of 3.44 and a beta of 0.72. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.09 and a current ratio of 1.30. Liberty Energy Inc. has a twelve month low of $11.24 and a twelve month high of $34.48.

Liberty Energy (NYSE:LBRT - Get Free Report) last released its earnings results on Wednesday, October 21st. The company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. Liberty Energy had a net margin of 0.91% and a return on equity of 2.13%. Liberty Energy's revenue was up 26.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.06) EPS. As a group, sell-side analysts expect that Liberty Energy Inc. will post 0.21 earnings per share for the current year.

Liberty Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.5%. This is a boost from Liberty Energy's previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Friday, December 4th. Liberty Energy's dividend payout ratio is presently 166.67%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LBRT. Piper Sandler reduced their target price on Liberty Energy from $29.00 to $27.00 and set an "overweight" rating for the company in a research note on Friday, October 23rd. Barclays cut their price objective on Liberty Energy from $27.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, October 26th. Royal Bank Of Canada reduced their price objective on Liberty Energy from $34.00 to $29.00 and set a "sector perform" rating for the company in a research note on Friday, July 24th. Weiss Ratings downgraded Liberty Energy from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, October 23rd. Finally, Morgan Stanley dropped their target price on Liberty Energy from $30.00 to $28.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 14th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.42.

Institutional Investors Weigh In On Liberty Energy

Several hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its holdings in Liberty Energy by 5.0% during the first quarter. PNC Financial Services Group Inc. now owns 7,855 shares of the company's stock worth $226,000 after buying an additional 375 shares in the last quarter. Root Financial Partners LLC grew its position in Liberty Energy by 79.6% during the first quarter. Root Financial Partners LLC now owns 914 shares of the company's stock valued at $26,000 after buying an additional 405 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Liberty Energy by 2.1% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 32,600 shares of the company's stock valued at $939,000 after buying an additional 676 shares in the last quarter. Amova Asset Management Americas Inc. increased its holdings in Liberty Energy by 2.1% in the first quarter. Amova Asset Management Americas Inc. now owns 32,600 shares of the company's stock valued at $939,000 after buying an additional 676 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Liberty Energy by 5.8% in the first quarter. SG Americas Securities LLC now owns 12,483 shares of the company's stock worth $360,000 after acquiring an additional 687 shares during the period. 98.22% of the stock is owned by hedge funds and other institutional investors.

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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