Zacks Research Comments on Liberty Energy Inc.'s Q3 2024 Earnings (NYSE:LBRT)

Liberty Energy Inc. (NYSE:LBRT - Free Report) - Zacks Research reduced their Q3 2024 earnings per share (EPS) estimates for Liberty Energy in a report released on Monday, April 29th. Zacks Research analyst T. Saha now anticipates that the company will post earnings of $0.73 per share for the quarter, down from their previous forecast of $0.76. The consensus estimate for Liberty Energy's current full-year earnings is $2.52 per share. Zacks Research also issued estimates for Liberty Energy's Q3 2025 earnings at $0.94 EPS and Q1 2026 earnings at $0.61 EPS.

LBRT has been the topic of several other research reports. Barclays boosted their price target on Liberty Energy from $25.00 to $27.00 and gave the company an "overweight" rating in a research note on Friday, April 19th. Morgan Stanley restated an "equal weight" rating and set a $24.00 target price on shares of Liberty Energy in a research report on Monday, April 22nd. Piper Sandler increased their price target on Liberty Energy from $27.00 to $28.00 and gave the stock an "overweight" rating in a research report on Friday, January 26th. TD Cowen lifted their price target on Liberty Energy from $19.00 to $21.00 and gave the company a "hold" rating in a research report on Friday, April 19th. Finally, Wells Fargo & Company boosted their price target on Liberty Energy from $24.00 to $26.00 and gave the company an "overweight" rating in a report on Friday, April 19th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Liberty Energy presently has an average rating of "Moderate Buy" and an average price target of $24.30.

Liberty Energy Stock Performance

Shares of NYSE:LBRT traded down $0.95 on Wednesday, hitting $21.05. 2,674,559 shares of the company were exchanged, compared to its average volume of 2,940,920. The firm has a market capitalization of $3.51 billion, a P/E ratio of 7.68, a price-to-earnings-growth ratio of 1.17 and a beta of 1.85. The company has a current ratio of 1.48, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17. Liberty Energy has a 1-year low of $11.62 and a 1-year high of $23.31. The stock's 50 day moving average price is $21.53 and its 200 day moving average price is $19.96.

Liberty Energy (NYSE:LBRT - Get Free Report) last issued its quarterly earnings results on Thursday, April 18th. The company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.06). The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.08 billion. Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. Liberty Energy's revenue was down 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 EPS.

Institutional Trading of Liberty Energy

Hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position in shares of Liberty Energy by 93.9% during the 4th quarter. Pacer Advisors Inc. now owns 4,587,073 shares of the company's stock worth $83,210,000 after purchasing an additional 2,221,588 shares during the last quarter. Invesco Ltd. lifted its holdings in Liberty Energy by 455.5% in the 3rd quarter. Invesco Ltd. now owns 1,536,812 shares of the company's stock worth $28,462,000 after buying an additional 1,260,142 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Liberty Energy during the fourth quarter worth approximately $21,278,000. Vanguard Group Inc. raised its stake in Liberty Energy by 4.5% during the third quarter. Vanguard Group Inc. now owns 20,546,529 shares of the company's stock valued at $380,522,000 after buying an additional 893,563 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Liberty Energy by 4,473.9% in the 3rd quarter. Principal Financial Group Inc. now owns 836,470 shares of the company's stock valued at $15,491,000 after buying an additional 818,182 shares during the period. Institutional investors and hedge funds own 98.22% of the company's stock.

Insider Activity

In related news, Director William F. Kimble sold 12,459 shares of the business's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $21.55, for a total transaction of $268,491.45. Following the transaction, the director now directly owns 69,963 shares in the company, valued at $1,507,702.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director William F. Kimble sold 12,459 shares of the business's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $21.55, for a total transaction of $268,491.45. Following the transaction, the director now owns 69,963 shares of the company's stock, valued at approximately $1,507,702.65. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Michael Stock sold 20,000 shares of the company's stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $21.83, for a total transaction of $436,600.00. Following the completion of the sale, the chief financial officer now directly owns 825,209 shares of the company's stock, valued at approximately $18,014,312.47. The disclosure for this sale can be found here. Insiders sold 162,459 shares of company stock worth $3,592,591 over the last three months. Insiders own 3.70% of the company's stock.

Liberty Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Wednesday, June 5th. Liberty Energy's payout ratio is 10.22%.

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.