Liberty Energy (NYSE:LBRT) Releases Earnings Results, Beats Estimates By $0.19 EPS

Key Points

• Q1 beat: Liberty Energy reported EPS of $0.06, beating the consensus of ($0.13) by $0.19; the company posted a 1.24% ROE and a 3.69% net margin.
• Dividend announced: the company declared a quarterly dividend of $0.09 per share (annualized $0.36), with an ex-dividend date of June 4 and a yield of about 1.2%.
• Market reaction and outlook: shares jumped to $29.42, market cap is ~$4.77B (P/E ~33), and analysts show a consensus "Moderate Buy" with an average price target of $26.83 and several recent upward revisions.

Liberty Energy (NYSE:LBRT - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.19, Zacks reports. Liberty Energy had a return on equity of 1.24% and a net margin of 3.69%.

Liberty Energy Stock Performance

LBRT traded up $1.09 during midday trading on Wednesday, reaching $29.42. The company had a trading volume of 4,109,214 shares, compared to its average volume of 4,506,767. The company has a quick ratio of 0.96, a current ratio of 1.22 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average of $28.16 and a two-hundred day moving average of $21.84. The company has a market cap of $4.77 billion, a P/E ratio of 33.06 and a beta of 0.48. Liberty Energy has a 1 year low of $9.90 and a 1 year high of $32.40.

Liberty Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, June 4th. Liberty Energy's dividend payout ratio is 40.45%.

Insiders Place Their Bets

In other Liberty Energy news, CFO Michael Stock sold 25,000 shares of the company's stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $25.38, for a total value of $634,500.00. Following the completion of the sale, the chief financial officer owned 784,819 shares in the company, valued at $19,918,706.22. This represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider R Sean Elliott sold 25,000 shares of the company's stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $25.40, for a total value of $635,000.00. Following the completion of the sale, the insider owned 343,150 shares of the company's stock, valued at approximately $8,716,010. The trade was a 6.79% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.00% of the company's stock.

Institutional Trading of Liberty Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of LBRT. T. Rowe Price Investment Management Inc. grew its position in shares of Liberty Energy by 60.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,503,529 shares of the company's stock worth $46,216,000 after purchasing an additional 946,591 shares in the last quarter. Invesco Ltd. grew its position in shares of Liberty Energy by 10.2% during the fourth quarter. Invesco Ltd. now owns 1,074,464 shares of the company's stock worth $19,835,000 after purchasing an additional 99,851 shares in the last quarter. First Citizens Bank & Trust Co. grew its position in shares of Liberty Energy by 3.2% during the fourth quarter. First Citizens Bank & Trust Co. now owns 31,658 shares of the company's stock worth $584,000 after purchasing an additional 976 shares in the last quarter. Empowered Funds LLC grew its position in shares of Liberty Energy by 39.9% during the fourth quarter. Empowered Funds LLC now owns 916,637 shares of the company's stock worth $16,921,000 after purchasing an additional 261,436 shares in the last quarter. Finally, XTX Topco Ltd grew its position in shares of Liberty Energy by 96.3% during the fourth quarter. XTX Topco Ltd now owns 46,642 shares of the company's stock worth $861,000 after purchasing an additional 22,885 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LBRT. Stifel Nicolaus upped their price target on Liberty Energy from $23.00 to $28.00 and gave the company a "buy" rating in a report on Monday, February 2nd. Piper Sandler upgraded Liberty Energy from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $17.00 to $32.00 in a research report on Monday, February 2nd. Barclays upped their price objective on Liberty Energy from $23.00 to $24.00 and gave the company an "equal weight" rating in a research report on Thursday, April 9th. Royal Bank Of Canada reiterated a "sector perform" rating on shares of Liberty Energy in a research report on Thursday, January 15th. Finally, UBS Group reiterated a "buy" rating and set a $34.00 price objective on shares of Liberty Energy in a research report on Friday, January 30th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.83.

Liberty Energy Company Profile

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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