Atb Cap Markets Forecasts Lower Earnings for Liberty Energy

Liberty Energy Inc. (NYSE:LBRT - Free Report) - Investment analysts at Atb Cap Markets dropped their Q4 2024 earnings estimates for shares of Liberty Energy in a report released on Tuesday, December 10th. Atb Cap Markets analyst W. Syed now expects that the company will post earnings of ($0.02) per share for the quarter, down from their previous forecast of $0.14. Atb Cap Markets has a "Strong-Buy" rating on the stock. The consensus estimate for Liberty Energy's current full-year earnings is $1.72 per share.

Several other research firms have also issued reports on LBRT. Barclays reduced their price target on shares of Liberty Energy from $26.00 to $24.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 16th. Stifel Nicolaus dropped their price objective on Liberty Energy from $26.00 to $25.00 and set a "buy" rating for the company in a research report on Friday, October 18th. Wells Fargo & Company reduced their price objective on Liberty Energy from $25.00 to $24.00 and set an "overweight" rating on the stock in a research note on Friday, October 18th. The Goldman Sachs Group began coverage on Liberty Energy in a research note on Friday. They set a "neutral" rating and a $19.00 target price for the company. Finally, Royal Bank of Canada reduced their price target on shares of Liberty Energy from $26.00 to $23.00 and set an "outperform" rating on the stock in a research note on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.50.

Liberty Energy Price Performance

LBRT stock traded down $0.18 during midday trading on Friday, reaching $18.99. The company had a trading volume of 2,347,113 shares, compared to its average volume of 2,551,563. Liberty Energy has a 1-year low of $16.57 and a 1-year high of $24.75. The stock has a 50 day moving average price of $18.30 and a 200-day moving average price of $20.03. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.97. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 9.04 and a beta of 1.71.

Liberty Energy (NYSE:LBRT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.55 by ($0.10). The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. Liberty Energy's revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the business earned $0.85 EPS.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. FMR LLC grew its holdings in Liberty Energy by 17.1% in the third quarter. FMR LLC now owns 18,115,282 shares of the company's stock worth $345,821,000 after purchasing an additional 2,640,119 shares during the period. Pacer Advisors Inc. grew its stake in shares of Liberty Energy by 15.9% in the 3rd quarter. Pacer Advisors Inc. now owns 7,012,382 shares of the company's stock valued at $133,866,000 after buying an additional 963,068 shares during the period. State Street Corp increased its position in Liberty Energy by 2.7% in the 3rd quarter. State Street Corp now owns 6,662,830 shares of the company's stock valued at $127,193,000 after buying an additional 176,887 shares in the last quarter. Canoe Financial LP raised its stake in Liberty Energy by 20.4% during the 3rd quarter. Canoe Financial LP now owns 4,124,695 shares of the company's stock worth $79,408,000 after buying an additional 699,500 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Liberty Energy by 17.6% in the second quarter. American Century Companies Inc. now owns 3,961,415 shares of the company's stock worth $82,754,000 after acquiring an additional 594,051 shares in the last quarter. 98.22% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Michael Stock sold 15,000 shares of Liberty Energy stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $19.23, for a total transaction of $288,450.00. Following the completion of the transaction, the chief financial officer now owns 730,207 shares of the company's stock, valued at $14,041,880.61. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher A. Wright sold 2,936 shares of the company's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $19.16, for a total transaction of $56,253.76. Following the sale, the chief executive officer now directly owns 2,543,877 shares in the company, valued at $48,740,683.32. This trade represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,973 shares of company stock valued at $2,144,485. Insiders own 3.60% of the company's stock.

Liberty Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.08 dividend. This is a boost from Liberty Energy's previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Friday, December 6th. Liberty Energy's dividend payout ratio is 15.24%.

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.