Liberty Energy (NYSE:LBRT) Posts Earnings Results, Misses Estimates By $0.01 EPS

by · The Markets Daily

Liberty Energy (NYSE:LBRT – Get Free Report) announced its quarterly earnings results on Wednesday. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01), FiscalAI reports. Liberty Energy had a net margin of 2.92% and a return on equity of 1.14%.

Liberty Energy Trading Up 0.8%

Shares of LBRT stock traded up $0.13 on Wednesday, reaching $16.71. 4,874,170 shares of the company’s stock were exchanged, compared to its average volume of 4,258,128. The company’s fifty day simple moving average is $19.40 and its 200 day simple moving average is $24.45. Liberty Energy has a 52 week low of $14.76 and a 52 week high of $34.48. The company has a current ratio of 1.99, a quick ratio of 1.75 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $2.73 billion, a PE ratio of 22.59, a P/E/G ratio of 2.99 and a beta of 0.71.

Liberty Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.4%. This is an increase from Liberty Energy’s previous quarterly dividend of $0.09. Liberty Energy’s dividend payout ratio is 48.65%.

Wall Street Analysts Forecast Growth

LBRT has been the topic of several analyst reports. Royal Bank Of Canada reduced their price objective on Liberty Energy from $34.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Friday, July 24th. The Goldman Sachs Group set a $23.00 price objective on Liberty Energy in a research note on Friday, August 7th. Scotiabank assumed coverage on Liberty Energy in a report on Tuesday, September 29th. They issued a “sector perform” rating and a $19.00 target price for the company. Piper Sandler cut their target price on Liberty Energy from $30.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Zacks Research downgraded Liberty Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Liberty Energy has a consensus rating of “Moderate Buy” and a consensus price target of $27.12.

View Our Latest Research Report on LBRT

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, Director Arjun N. Murti bought 14,053 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was acquired at an average cost of $17.79 per share, for a total transaction of $250,002.87. Following the completion of the transaction, the director owned 41,621 shares in the company, valued at $740,437.59. This trade represents a 50.98% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Stock sold 6,666 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $19.84, for a total transaction of $132,253.44. Following the sale, the chief financial officer directly owned 760,379 shares of the company’s stock, valued at $15,085,919.36. This represents a 0.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,665 shares of company stock worth $319,301 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

About Liberty Energy

(Get Free Report)

Liberty Energy Inc is an oilfield services company that provides completion and production services to exploration and production companies. Its primary business is hydraulic fracturing, a well-stimulation technique used to improve the flow of oil and natural gas from unconventional reservoirs.

The company also offers wireline services, well diagnostics, frac data analysis, engineering support, and related technologies designed to help customers plan, execute, and evaluate well-completion operations.

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