Christopher A. Wright Sells 20,000 Shares of Liberty Energy Inc. (NYSE:LBRT) Stock

Liberty Energy Inc. (NYSE:LBRT) CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $19.91, for a total transaction of $398,200.00. Following the transaction, the chief executive officer now owns 2,678,813 shares in the company, valued at $53,335,166.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Liberty Energy Price Performance

NYSE:LBRT traded up $0.73 during trading hours on Tuesday, reaching $20.77. 1,370,872 shares of the company were exchanged, compared to its average volume of 2,520,677. The business has a 50 day moving average of $20.77 and a 200 day moving average of $21.47. Liberty Energy Inc. has a 1-year low of $16.33 and a 1-year high of $24.75. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 1.07. The company has a market capitalization of $3.43 billion, a P/E ratio of 7.55, a P/E/G ratio of 1.11 and a beta of 1.68.

Liberty Energy (NYSE:LBRT) last released its earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. Liberty Energy’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.87 EPS. Research analysts forecast that Liberty Energy Inc. will post 2.17 EPS for the current year.

Liberty Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 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 1.35%. The ex-dividend date is Friday, September 6th. Liberty Energy’s dividend payout ratio (DPR) is presently 10.22%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LBRT. Barclays cut their target price on shares of Liberty Energy from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Tuesday, July 23rd. Bank of America decreased their target price on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Piper Sandler cut their price target on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, July 15th. TD Cowen decreased their price objective on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Friday, July 19th. Finally, Citigroup upgraded Liberty Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $24.00 to $32.00 in a report on Wednesday, May 29th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $24.78.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new position in shares of Liberty Energy during the 2nd quarter worth $32,000. GAMMA Investing LLC lifted its holdings in shares of Liberty Energy by 69.2% in the second quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock worth $36,000 after acquiring an additional 713 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Liberty Energy in the 4th quarter valued at approximately $39,000. nVerses Capital LLC grew its holdings in shares of Liberty Energy by 45.0% during the 2nd quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock valued at $61,000 after purchasing an additional 900 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in Liberty Energy by 70.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock worth $53,000 after purchasing an additional 1,206 shares in the last quarter. 98.22% of the stock is currently owned by institutional investors and hedge funds.

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.