Liberty Energy (NYSE:LBRT) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Liberty Energy (NYSE:LBRT - Get Free Report) released its quarterly earnings results on Wednesday. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01, Zacks reports. Liberty Energy had a net margin of 7.32% and a return on equity of 14.28%. The firm had revenue of $977.46 million for the quarter, compared to analysts' expectations of $960.64 million. During the same period in the prior year, the firm earned $0.48 EPS.

Liberty Energy Stock Up 5.4 %

NYSE LBRT traded up $0.62 during trading hours on Friday, hitting $12.05. The company's stock had a trading volume of 5,368,809 shares, compared to its average volume of 2,732,939. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 0.20. The company's 50-day simple moving average is $14.70 and its two-hundred day simple moving average is $17.57. The company has a market capitalization of $1.95 billion, a PE ratio of 6.44 and a beta of 1.18. Liberty Energy has a 52 week low of $9.50 and a 52 week high of $24.75.

Liberty Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Friday, June 6th. Liberty Energy's dividend payout ratio (DPR) is 21.19%.

Insider Transactions at Liberty Energy

In other news, CFO Michael Stock sold 10,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $17.94, for a total value of $179,400.00. Following the completion of the sale, the chief financial officer now owns 717,292 shares in the company, valued at $12,868,218.48. This represents a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LBRT. Barclays lowered their target price on Liberty Energy from $21.00 to $17.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Royal Bank of Canada downgraded Liberty Energy from an "outperform" rating to a "sector perform" rating and dropped their target price for the stock from $24.00 to $19.00 in a report on Monday, March 24th. Stifel Nicolaus cut their price target on Liberty Energy from $25.00 to $23.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. TD Cowen dropped their price objective on Liberty Energy from $18.00 to $16.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Finally, Citigroup raised their price target on Liberty Energy from $19.00 to $22.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $19.40.

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.