Arjun Murti Acquires 9,696 Shares of Liberty Energy (NYSE:LBRT) Stock
by Mitch Edgeman · The Markets DailyLiberty Energy Inc. (NYSE:LBRT – Get Free Report) Director Arjun Murti acquired 9,696 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was purchased at an average cost of $25.79 per share, with a total value of $250,059.84. Following the acquisition, the director directly owned 27,568 shares of the company’s stock, valued at $710,978.72. This trade represents a 54.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.
Liberty Energy Stock Performance
Liberty Energy stock traded down $0.24 during mid-day trading on Thursday, reaching $26.88. 4,721,139 shares of the stock traded hands, compared to its average volume of 4,893,268. Liberty Energy Inc. has a 12-month low of $9.50 and a 12-month high of $27.85. The business’s 50-day moving average is $21.16 and its 200-day moving average is $16.49. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.22 and a quick ratio of 0.96. The stock has a market capitalization of $4.36 billion, a PE ratio of 30.20 and a beta of 0.49.
Liberty Energy (NYSE:LBRT – Get Free Report) last released its quarterly earnings results on Wednesday, January 28th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.21. Liberty Energy had a return on equity of 1.24% and a net margin of 3.69%.The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $880.59 million. During the same period in the previous year, the company posted $0.10 EPS. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, sell-side analysts predict that Liberty Energy Inc. will post 0.58 EPS for the current fiscal year.
Liberty Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be given a $0.09 dividend. The ex-dividend date is Wednesday, March 4th. This represents a $0.36 annualized dividend and a yield of 1.3%. Liberty Energy’s dividend payout ratio (DPR) is presently 40.45%.
Analysts Set New Price Targets
LBRT has been the subject of several analyst reports. Stifel Nicolaus raised their target price on Liberty Energy from $23.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Citigroup raised their target price on shares of Liberty Energy from $21.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group reiterated a “buy” rating and issued a $34.00 price target on shares of Liberty Energy in a research report on Friday, January 30th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Liberty Energy in a research note on Thursday, January 15th. Finally, Wall Street Zen upgraded shares of Liberty Energy from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Liberty Energy presently has an average rating of “Moderate Buy” and an average price target of $26.08.
View Our Latest Report on LBRT
Hedge Funds Weigh In On Liberty Energy
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. grew its stake in Liberty Energy by 60.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,503,529 shares of the company’s stock valued at $46,216,000 after acquiring an additional 946,591 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Liberty Energy by 10.2% during the 4th quarter. Invesco Ltd. now owns 1,074,464 shares of the company’s stock valued at $19,835,000 after purchasing an additional 99,851 shares during the last quarter. First Citizens Bank & Trust Co. grew its position in shares of Liberty Energy by 3.2% during the fourth quarter. First Citizens Bank & Trust Co. now owns 31,658 shares of the company’s stock valued at $584,000 after purchasing an additional 976 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Liberty Energy by 39.9% in the fourth quarter. Empowered Funds LLC now owns 916,637 shares of the company’s stock worth $16,921,000 after buying an additional 261,436 shares in the last quarter. Finally, XTX Topco Ltd boosted its stake in Liberty Energy by 96.3% during the fourth quarter. XTX Topco Ltd now owns 46,642 shares of the company’s stock valued at $861,000 after buying an additional 22,885 shares during the last quarter. Institutional investors own 98.22% of the company’s stock.
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. 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.