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Liberty Energy (NYSE:LBRT) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Liberty Energy logo with Energy background

Key Points

  • Liberty Energy reported a quarterly EPS of ($0.06), missing analysts' expectations of $0.01 by $0.07 and achieving a net margin of 5.29%.
  • The company has increased its quarterly dividend from $0.08 to $0.09 per share, representing a 3.0% annualized yield.
  • Liberty Energy's stock is currently rated as a "Moderate Buy," with a consensus target price of $14.85 from Wall Street analysts.
  • Five stocks to consider instead of Liberty Energy.

Liberty Energy (NYSE:LBRT - Get Free Report) issued its earnings results on Thursday. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.05), Zacks reports. Liberty Energy had a return on equity of 6.01% and a net margin of 5.29%.The business had revenue of $947.40 million for the quarter, compared to analyst estimates of $967.05 million. During the same period last year, the business posted $0.45 EPS. Liberty Energy's revenue was down 16.8% on a year-over-year basis.

Liberty Energy Stock Down 3.0%

Liberty Energy stock opened at $11.97 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.16 and a quick ratio of 0.91. Liberty Energy has a 1-year low of $9.50 and a 1-year high of $23.58. The company has a market cap of $1.94 billion, a PE ratio of 9.21 and a beta of 0.74. The stock's 50 day moving average price is $11.53 and its 200 day moving average price is $11.89.

Liberty Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.0%. This is a boost from Liberty Energy's previous quarterly dividend of $0.08. The ex-dividend date is Thursday, December 4th. Liberty Energy's dividend payout ratio (DPR) is presently 24.62%.

Institutional Trading of Liberty Energy

A number of institutional investors have recently bought and sold shares of the company. Nomura Holdings Inc. boosted its position in Liberty Energy by 76.0% during the second quarter. Nomura Holdings Inc. now owns 46,400 shares of the company's stock worth $533,000 after purchasing an additional 20,041 shares in the last quarter. Public Sector Pension Investment Board boosted its position in Liberty Energy by 7.4% during the second quarter. Public Sector Pension Investment Board now owns 551,435 shares of the company's stock worth $6,330,000 after purchasing an additional 37,901 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Liberty Energy by 700.0% during the second quarter. Tower Research Capital LLC TRC now owns 19,824 shares of the company's stock worth $228,000 after purchasing an additional 17,346 shares in the last quarter. State of Tennessee Department of Treasury boosted its position in Liberty Energy by 54.8% during the second quarter. State of Tennessee Department of Treasury now owns 59,192 shares of the company's stock worth $680,000 after purchasing an additional 20,957 shares in the last quarter. Finally, Vident Advisory LLC purchased a new stake in Liberty Energy during the second quarter worth $134,000. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on LBRT shares. Barclays reissued an "equal weight" rating and set a $12.00 target price (down previously from $14.00) on shares of Liberty Energy in a research report on Monday. Piper Sandler cut their price target on Liberty Energy from $14.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Wall Street Zen raised Liberty Energy from a "sell" rating to a "hold" rating in a research report on Saturday, October 11th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Liberty Energy in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus cut their price target on Liberty Energy from $20.00 to $19.00 and set a "buy" rating on the stock in a research report on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Liberty Energy has an average rating of "Hold" and an average target price of $14.85.

Read Our Latest Stock Report on LBRT

About Liberty Energy

(Get Free Report)

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.

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Earnings History for Liberty Energy (NYSE:LBRT)

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