William Kimble Sells 7,350 Shares of Liberty Energy (NYSE:LBRT) Stock

Key Points

• Chairman William Kimble sold 7,350 shares on May 5 at an average price of $33.92 for $249,312, reducing his holding by 7.57% to 89,805 shares.
• Liberty Energy beat quarterly estimates, reporting $0.06 EPS vs. consensus -$0.13 and $1.02 billion in revenue (up 4.5% YoY), with a market cap of $5.5 billion and a P/E of 37.05.
• Dividend announced: a $0.09 quarterly payout (annualized $0.36) will be paid June 18 to holders of record on June 4, implying a roughly 1.1% yield.

Liberty Energy Inc. (NYSE:LBRT - Get Free Report) Chairman William Kimble sold 7,350 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $33.92, for a total transaction of $249,312.00. Following the completion of the sale, the chairman owned 89,805 shares of the company's stock, valued at $3,046,185.60. The trade was a 7.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Liberty Energy Stock Performance

Shares of Liberty Energy stock traded down $0.21 during trading on Tuesday, reaching $33.72. The company's stock had a trading volume of 2,798,555 shares, compared to its average volume of 4,552,236. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.97 and a current ratio of 2.21. The business's fifty day moving average price is $29.22 and its 200-day moving average price is $22.98. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of 37.05 and a beta of 0.56. Liberty Energy Inc. has a one year low of $9.90 and a one year high of $34.42.

Liberty Energy (NYSE:LBRT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.19. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $954.71 million. Liberty Energy had a return on equity of 1.41% and a net margin of 3.71%.The firm's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.04 earnings per share. As a group, equities research analysts predict that Liberty Energy Inc. will post -0.19 earnings per share for the current year.

Liberty Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be paid a $0.09 dividend. The ex-dividend date is Thursday, June 4th. This represents a $0.36 annualized dividend and a dividend yield of 1.1%. Liberty Energy's dividend payout ratio (DPR) is presently 39.56%.

Analyst Ratings Changes

LBRT has been the topic of several research analyst reports. The Goldman Sachs Group raised their price objective on shares of Liberty Energy from $26.00 to $30.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 4th. Weiss Ratings restated a "hold (c)" rating on shares of Liberty Energy in a research note on Friday. Barclays increased their target price on shares of Liberty Energy from $24.00 to $29.00 and gave the company an "equal weight" rating in a research note on Monday, April 27th. Bank of America upgraded shares of Liberty Energy from a "neutral" rating to a "buy" rating and set a $31.00 target price for the company in a research note on Tuesday, February 17th. Finally, UBS Group increased their target price on shares of Liberty Energy from $34.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $30.17.

Institutional Trading of Liberty Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LBRT. Franklin Resources Inc. increased its stake in Liberty Energy by 78.5% in the third quarter. Franklin Resources Inc. now owns 8,575,840 shares of the company's stock valued at $105,826,000 after acquiring an additional 3,771,724 shares during the period. Balyasny Asset Management L.P. increased its stake in Liberty Energy by 1,529.2% in the third quarter. Balyasny Asset Management L.P. now owns 2,753,357 shares of the company's stock valued at $33,976,000 after acquiring an additional 2,584,359 shares during the period. Millennium Management LLC increased its stake in Liberty Energy by 184.7% in the fourth quarter. Millennium Management LLC now owns 3,287,466 shares of the company's stock valued at $60,687,000 after acquiring an additional 2,132,685 shares during the period. Sourcerock Group LLC bought a new stake in Liberty Energy in the second quarter valued at about $23,653,000. Finally, Eventide Asset Management LLC acquired a new stake in Liberty Energy in the 4th quarter valued at $36,394,000. Institutional investors own 98.22% 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. 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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