Liberty Energy Inc. (NYSE:LBRT), an energy services company with a market capitalization of $3.2 billion and a strong financial position according to InvestingPro analysis, reported that Chief Financial Officer Michael Stock recently sold shares in the company, according to a filing with the Securities and Exchange Commission. Stock sold 5,000 shares of Class A Common Stock at $19.51 per share on December 30, for a total of $97,550. The stock, which currently trades at $19.67 and appears slightly undervalued on a fundamental basis InvestingPro fair value analysis, achieved a return of 10% over the past year. This transaction was executed under a Rule 10b5-1 trading plan adopted by the stock on December 4, 2023, which commenced in March 2024. Following this sale, the stock directly holds 700,207 shares. For a deeper look at Liberty Energy’s valuation and more than 30 key financial metrics, explore the comprehensive Pro Research Report available at InvestingPro.
In other recent news, Liberty Oilfield Services (NYSE: ) has been subject to several financial adjustments and leadership changes. The company’s strong Q3 2024 results were highlighted by revenues of $1.1 billion and adjusted EBITDA of $248 million. Additionally, despite market pressures, the company increased its quarterly cash dividend by 14% to $0.08 per share and spent $39 million on share repurchases.
Goldman Sachs maintained a Neutral rating on Liberty Oilfield Services, pointing to the company’s significant share buyback program. However, the firm also noted that other North American companies potentially offer a more compelling mix of growth and returns.
In terms of leadership, Liberty Energy has announced significant changes following the appointment of Christopher A. Wright, the company’s founder, chairman, director and chief executive officer, to the position of US Secretary of Energy. William Kimble and Ron Gusek were appointed non-executive chairman of the board and new CEO, respectively.
Analysts at Stifel and RBC Capital Markets adjusted their price targets for Liberty Oilfield Services, citing disappointing fourth-quarter guidance, pricing challenges and a less optimistic view of future fracking activity. Meanwhile, Citi downgraded the company from Buy to Neutral and lowered its price target due to revised fourth-quarter EBITDA estimates and less optimistic 2025 projections.
Looking ahead, Liberty Oilfield Services anticipates increased completion activity and healthy free cash flow generation in 2025, with projected fourth quarter capital expenditures of approximately $200 million and projected 2025 capital expenditures of approximately $650 million.
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