Michael Stock Sells 5,000 Shares of Liberty Energy Inc. (NYSE:LBRT)

Michael Stock, the Chief Financial Officer (CFO) of Liberty Energy Inc. (NYSE:LBRT - Get Free Report), executed a transaction on January 16th where he sold 5,000 shares of the company. The shares were sold at an average price of $23.00 each, bringing the total value of the transaction to $115,000. This sale resulted in a 0.74% decrease in Stock's ownership, leaving him with 675,207 shares, which are valued at approximately $15,529,761.

This sale was officially disclosed in a legal filing with the Securities and Exchange Commission (SEC).

In addition, Michael Stock has engaged in several other transactions recently, including:

• On January 2nd, selling 20,000 shares for a total of $416,400, at an average price of $20.82.
• On December 30th, selling 5,000 shares totaling $97,550 at an average price of $19.51.
• On December 2nd, offloading 10,000 shares for $184,900, priced at $18.49 each.
• On November 6th, selling 5,000 shares for $92,250, at an average price of $18.45.
• On November 1st, selling another 5,000 shares totaling $86,050, priced at $17.21 each.

Liberty Energy Stock Performance

On the trading day following the sale, Liberty Energy stock saw a rise of $0.46, reaching $23.13. This trading session featured a volume of 2,387,196 shares, slightly below its average of 2,841,249 shares. The company holds a current ratio of 1.23, a quick ratio of 0.97, and a debt-to-equity ratio of 0.17. Liberty Energy's market capitalization is approximately $3.78 billion, with a price-to-earnings (PE) ratio of 11.01 and a beta of 1.66. Over the past year, the stock has traded between $16.57 and $24.75, with a 50-day moving average of $18.98 and a 200-day moving average of $19.70.

Recent Earnings Data

Liberty Energy reported its quarterly earnings on October 16th, revealing earnings per share (EPS) of $0.45. This fell short of analysts' expectations, as the consensus estimate was $0.55. The company’s revenue for the quarter was $1.14 billion, matching predictions but reflecting a decline of 6.4% compared to the same period a year earlier. In the previous year, Liberty Energy generated an EPS of $0.85. Analysts project an EPS of 1.66 for the current year.

Analyst Ratings and Price Targets

A number of research analysts have provided insights regarding Liberty Energy shares. Wells Fargo & Company recently adjusted its target price from $25.00 to $24.00, maintaining an ‘overweight’ rating. TD Cowen lowered its price target from $18.00 to $16.00, giving a 'hold' rating. On the other hand, Evercore ISI upgraded their rating to ‘strong-buy’ following an evaluation of the stock on October 17th. Citigroup raised their target price to $22.00, indicating a ‘neutral’ rating. Furthermore, Seaport Res Ptn upgraded Liberty Energy from a 'hold' to a ‘strong-buy’ status.

According to MarketBeat, there are currently five analysts who rate the stock as 'hold', five as 'buy', and three as 'strong-buy', leading to a consensus rating of 'Moderate Buy' with an average target price of $22.20.

Institutional Holdings

Many hedge funds have recently adjusted their positions in Liberty Energy. FMR LLC has increased its shareholding by 17.1% in the third quarter, now controlling 18,115,282 shares valued at $345,821,000. Pacer Advisors Inc. also raised its stake by 15.9%, owning 7,012,382 shares worth $133,866,000. State Street Corp increased its holdings by 2.7%, while Canoe Financial LP raised its position by 20.4%. Geode Capital Management also increased their stake by 5.8%. Overall, institutional investors and hedge funds control approximately 98.22% of Liberty Energy's shares.

Company Overview

Liberty Energy Inc. specializes in providing hydraulic services and related technologies to oil and natural gas exploration and production companies in North America. Their services include hydraulic fracturing along with complementary offerings such as wireline services, proppant delivery solutions, field gas processing, and data analytics.

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