Liberty Energy (NYSE:LBRT) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Liberty Energy (NYSE:LBRT - Get Free Report) issued its earnings results on Wednesday. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01, Zacks reports. The company had revenue of $977.46 million during the quarter, compared to analysts' expectations of $960.64 million. Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. During the same period in the prior year, the business posted $0.48 EPS.

Liberty Energy Stock Down 4.0 %

Shares of LBRT traded down $0.48 on Monday, hitting $11.60. 3,458,004 shares of the stock traded hands, compared to its average volume of 2,736,478. The company has a market capitalization of $1.88 billion, a PE ratio of 6.20 and a beta of 1.18. Liberty Energy has a one year low of $9.50 and a one year high of $24.75. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.97 and a current ratio of 1.27. The business has a 50 day simple moving average of $14.59 and a 200 day simple moving average of $17.49.

Liberty Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.32 annualized dividend and a yield of 2.76%. Liberty Energy's dividend payout ratio (DPR) is presently 21.19%.

Analyst Upgrades and Downgrades

LBRT has been the topic of several analyst reports. Citigroup lifted their target price on shares of Liberty Energy from $19.00 to $22.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. The Goldman Sachs Group reduced their price target on Liberty Energy from $19.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Stifel Nicolaus cut their price objective on Liberty Energy from $25.00 to $23.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Morgan Stanley upgraded Liberty Energy from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $20.00 to $25.00 in a report on Thursday, March 27th. Finally, TD Cowen boosted their price objective on shares of Liberty Energy from $10.00 to $13.00 and gave the company a "hold" rating in a research report on Monday. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $19.10.

Insider Buying and Selling at Liberty Energy

In related news, CFO Michael Stock sold 10,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $17.94, for a total transaction of $179,400.00. Following the transaction, the chief financial officer now owns 717,292 shares in the company, valued at $12,868,218.48. This represents a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.90% 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.