Liberty Energy (NYSE:LBRT) Posts Earnings Results, Misses Expectations By $0.02 EPS

Key Points

• Liberty Energy reported earnings of $0.12 per share for the quarter, missing analyst expectations of $0.14 by $0.02, and experienced a 10.1% decline in revenue year-over-year, totaling $1.04 billion.
• The company declared a quarterly dividend of $0.08 per share, with a dividend yield of 2.43%, reflecting a payout ratio of 24.62%.
• Institutional ownership stands at 98.22%, with notable stake increases from recently active large investors, indicating strong interest in the company.

Liberty Energy (NYSE:LBRT - Get Free Report) posted its earnings results on Thursday. The company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.02), Zacks reports. Liberty Energy had a return on equity of 6.06% and a net margin of 5.29%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the company earned $0.64 EPS. The company's revenue was down 10.1% on a year-over-year basis.

Liberty Energy Trading Up 1.6%

Shares of LBRT stock opened at $13.17 on Friday. The company has a 50 day moving average of $12.20 and a 200-day moving average of $14.45. The company has a quick ratio of 0.91, a current ratio of 1.20 and a debt-to-equity ratio of 0.21. Liberty Energy has a 12-month low of $9.50 and a 12-month high of $24.43. The firm has a market cap of $2.13 billion, a P/E ratio of 10.13 and a beta of 0.66.

Liberty Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, September 4th. This represents a $0.32 annualized dividend and a dividend yield of 2.43%. Liberty Energy's payout ratio is currently 24.62%.

Institutional Investors Weigh In On Liberty Energy

Large investors have recently modified their holdings of the stock. NewEdge Advisors LLC increased its stake in shares of Liberty Energy by 1,992.2% during the 1st quarter. NewEdge Advisors LLC now owns 12,030 shares of the company's stock worth $190,000 after purchasing an additional 11,455 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Liberty Energy by 22.0% during the 1st quarter. Intech Investment Management LLC now owns 81,446 shares of the company's stock worth $1,289,000 after purchasing an additional 14,663 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Liberty Energy by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,205 shares of the company's stock worth $1,491,000 after purchasing an additional 4,095 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Liberty Energy by 0.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 868,978 shares of the company's stock worth $13,756,000 after purchasing an additional 4,955 shares during the last quarter. Hedge funds and other institutional investors own 98.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on LBRT shares. TD Cowen upped their target price on shares of Liberty Energy from $10.00 to $13.00 and gave the stock a "hold" rating in a report on Monday, April 21st. The Goldman Sachs Group lowered their target price on shares of Liberty Energy from $19.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Morgan Stanley lowered their target price on shares of Liberty Energy from $25.00 to $20.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Wall Street Zen lowered shares of Liberty Energy from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Cowen reiterated a "hold" rating on shares of Liberty Energy in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Liberty Energy has a consensus rating of "Moderate Buy" and a consensus price target of $15.65.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.