Liberty Energy Inc. (NYSE:LBRT) Short Interest Up 13.4% in July

Liberty Energy Inc. (NYSE:LBRT) was the recipient of a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 15,740,000 shares, an increase of 13.4% from the June 30th total of 13,880,000 shares. Based on an average trading volume of 2,440,000 shares, the days-to-cover ratio is presently 6.5 days. Approximately 9.9% of the company’s stock are sold short.

Liberty Energy Stock Down 1.5 %

Shares of Liberty Energy stock traded down $0.34 during trading on Monday, hitting $22.63. 2,250,005 shares of the stock traded hands, compared to its average volume of 2,708,043. The stock has a market cap of $3.77 billion, a P/E ratio of 8.26, a PEG ratio of 1.34 and a beta of 1.74. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35. Liberty Energy has a twelve month low of $15.57 and a twelve month high of $24.75. The company has a fifty day moving average price of $21.83 and a two-hundred day moving average price of $21.22.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company earned $0.87 EPS. The firm’s revenue was down 2.9% on a year-over-year basis. Equities research analysts predict that Liberty Energy will post 2.19 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $0.07 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.28 annualized dividend and a yield of 1.24%. Liberty Energy’s dividend payout ratio (DPR) is currently 10.22%.

Insiders Place Their Bets

In other Liberty Energy news, CFO Michael Stock sold 4,374 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $21.01, for a total value of $91,897.74. Following the transaction, the chief financial officer now directly owns 785,207 shares of the company’s stock, valued at approximately $16,497,199.07. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $21.64, for a total value of $432,800.00. Following the completion of the transaction, the chief executive officer now owns 2,818,814 shares of the company’s stock, valued at $60,999,134.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michael Stock sold 4,374 shares of Liberty Energy stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $21.01, for a total transaction of $91,897.74. Following the completion of the transaction, the chief financial officer now directly owns 785,207 shares of the company’s stock, valued at $16,497,199.07. The disclosure for this sale can be found here. Insiders sold a total of 106,000 shares of company stock worth $2,321,231 in the last 90 days. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Liberty Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in LBRT. EdgeRock Capital LLC bought a new position in Liberty Energy in the 4th quarter worth approximately $27,000. GAMMA Investing LLC increased its position in Liberty Energy by 69.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock worth $36,000 after buying an additional 713 shares during the period. Principal Securities Inc. bought a new position in Liberty Energy in the 4th quarter worth approximately $39,000. Quadrant Capital Group LLC increased its position in Liberty Energy by 70.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock worth $53,000 after buying an additional 1,206 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in Liberty Energy by 27.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock worth $59,000 after buying an additional 709 shares during the period. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Morgan Stanley reissued an “equal weight” rating and issued a $24.00 price target on shares of Liberty Energy in a research note on Monday, April 22nd. TD Cowen cut their price objective on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. Royal Bank of Canada lifted their price objective on shares of Liberty Energy from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Citigroup upgraded shares of Liberty Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $24.00 to $32.00 in a research note on Wednesday, May 29th. Finally, Wells Fargo & Company lifted their target price on Liberty Energy from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.78.

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.