FY2024 EPS Estimates for Liberty Energy Inc. Increased by Analyst (NYSE:LBRT)

Liberty Energy Inc. (NYSE:LBRT) – Equities research analysts at Zacks Research increased their FY2024 earnings per share estimates for shares of Liberty Energy in a research report issued to clients and investors on Monday, September 16th. Zacks Research analyst R. Department now forecasts that the company will earn $2.14 per share for the year, up from their prior estimate of $2.10. The consensus estimate for Liberty Energy’s current full-year earnings is $2.17 per share. Zacks Research also issued estimates for Liberty Energy’s Q4 2024 earnings at $0.46 EPS, Q1 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.69 EPS, Q4 2025 earnings at $0.51 EPS and Q2 2026 earnings at $0.74 EPS.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.87 earnings per share.

Several other equities analysts have also issued reports on the company. Bank of America decreased their price target on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Piper Sandler cut their price target on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Citigroup raised shares of Liberty Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $24.00 to $32.00 in a research report on Wednesday, May 29th. Barclays dropped their price objective on shares of Liberty Energy from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Finally, TD Cowen decreased their target price on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research report on Friday, July 19th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Liberty Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.78.

Liberty Energy Stock Performance

NYSE:LBRT opened at $20.94 on Thursday. The stock has a 50 day simple moving average of $20.79 and a 200 day simple moving average of $21.45. Liberty Energy has a 1-year low of $16.33 and a 1-year high of $24.75. The stock has a market cap of $3.49 billion, a P/E ratio of 7.64, a PEG ratio of 1.11 and a beta of 1.69. The company has a current ratio of 1.35, a quick ratio of 1.07 and a debt-to-equity ratio of 0.17.

Hedge Funds Weigh In On Liberty Energy

Institutional investors have recently added to or reduced their stakes in the stock. Diversified Trust Co grew its holdings in shares of Liberty Energy by 2.5% during the first quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock worth $427,000 after buying an additional 507 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Liberty Energy by 4.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 14,262 shares of the company’s stock valued at $296,000 after acquiring an additional 543 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in shares of Liberty Energy by 2.4% during the first quarter. Perigon Wealth Management LLC now owns 24,815 shares of the company’s stock worth $514,000 after purchasing an additional 571 shares during the period. Andina Capital Management LLC grew its holdings in shares of Liberty Energy by 3.9% during the second quarter. Andina Capital Management LLC now owns 18,599 shares of the company’s stock valued at $389,000 after purchasing an additional 691 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Liberty Energy by 27.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after buying an additional 709 shares during the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

Insider Buying and Selling

In other news, CFO Michael Stock sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $21.01, for a total value of $105,050.00. Following the transaction, the chief financial officer now owns 745,207 shares in the company, valued at $15,656,799.07. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $19.91, for a total transaction of $398,200.00. Following the completion of the transaction, the chief executive officer now owns 2,678,813 shares in the company, valued at $53,335,166.83. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Michael Stock sold 5,000 shares of Liberty Energy stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $21.01, for a total transaction of $105,050.00. Following the sale, the chief financial officer now owns 745,207 shares in the company, valued at $15,656,799.07. The disclosure for this sale can be found here. Insiders have sold a total of 100,000 shares of company stock valued at $2,084,231 over the last ninety days. Company insiders own 3.60% of the company’s stock.

Liberty Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Friday, September 6th. Liberty Energy’s dividend payout ratio (DPR) is currently 10.22%.

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.