Michael Stock, the Chief Financial Officer of Liberty Energy Inc. (NYSE:LBRT), recently sold 5,000 shares of the company's Class A common stock. The transaction, completed on November 1, amounted to approximately $86,050, with shares sold at a price of $17.21 each. Following this sale, Stock retains ownership of 725,207 shares in the company. The sales were executed as part of a pre-established Rule 10b5-1 trading plan, which Stock adopted in December 2023 for sales commencing in March 2024.
In other recent news, Liberty Oilfield Services (NYSE:LBRT) reported a robust third quarter for 2024, with revenues reaching $1.1 billion and an adjusted EBITDA of $248 million. Despite market pressures, the company increased its quarterly cash dividend by 14% to $0.08 per share and spent $39 million on share repurchases. However, Stifel, RBC Capital Markets, and Citi have all adjusted their price targets for the company, citing disappointing fourth quarter guidance and pricing challenges. Stifel maintains a Buy rating, while RBC Capital Markets and Citi hold an Outperform and Neutral rating respectively. The companies anticipate a recovery in performance for Liberty Oilfield Services in the first half of 2025, despite current market softness.
InvestingPro Insights
As Michael Stock, Liberty Energy's CFO, reduces his stake in the company, investors may find additional context in the company's financial metrics and market performance. According to InvestingPro data, Liberty Energy currently has a market capitalization of $2.79 billion and trades at a price-to-earnings ratio of 7.99, suggesting a relatively low valuation compared to the broader market.
Despite the recent insider sale, Liberty Energy has demonstrated a commitment to shareholder returns, with InvestingPro Tips highlighting that the company has raised its dividend for three consecutive years. The current dividend yield stands at 1.87%, with a notable dividend growth of 60% over the last twelve months.
However, the stock's recent performance has been challenging. InvestingPro Tips indicate that Liberty Energy's stock has fared poorly over the last month and is trading near its 52-week low. This is reflected in the one-month price total return of -16.67% and a year-to-date return of -4.84%.
For investors seeking a more comprehensive analysis, InvestingPro offers additional insights with 7 more tips available for Liberty Energy. These tips could provide valuable guidance on the company's financial health and future prospects in the dynamic energy services sector.
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