Liberty Energy Inc. (NYSE:LBRT), a $3.79 billion energy services company trading near a 52-week high, reported that Michael Stock, the company’s Chief Financial Officer, sold 5,000 shares of Class A Common Stock. The transaction, which occurred on January 16, 2025, was executed at a weighted average price of $23.0031 per share, resulting in a total sales value of approximately $115,015. According to InvestingPro analysis, the stock appears to be slightly overvalued at current levels.
The shares were sold as part of a pre-determined Rule 10b5-1 trading plan adopted by the Stock in September 2024, allowing sales to commence in January 2025. Following this transaction, the Stock retains direct ownership of 675,207 shares of Liberty Energy.
The sale was made in multiple transactions at prices ranging between $23.00 and $23.02 per share. Stock has undertaken to provide further details of the specified number of shares sold at each price upon request by Liberty Energy Inc., its security holders or the Securities and Exchange Commission.
In other recent news, Liberty Oilfield Services (NYSE: ) has been subject to several financial adjustments. Analysts at Citi downgraded the stock from Buy to Neutral, setting a new price target of $13.00. They also revised their Q4 EBITDA estimate for the company down by 3% to $166 million and cut their 2025 EBITDA estimate by 4% to $765 million. Meanwhile, Goldman Sachs maintained a neutral stance on Liberty Oilfield Services, recognizing value in the company’s share buyback program, and set a $19.00 target price.
Additionally, Stifel maintained a Buy rating on Liberty Oilfield Services but lowered its price target to $25, citing disappointing fourth-quarter guidance and pricing challenges. RBC Capital Markets also cut its price target on Liberty Oilfield Services to $23, while maintaining an Outperform rating.
The company also announced significant changes to its executive team. Christopher A. Wright, the company’s founder, president, director and CEO, has been nominated for the post of US Secretary of Energy. William Kimble was named non-executive chairman of the board, and Ron Gusek was named the new CEO.
On the earnings side, Liberty reported strong results in the third quarter of 2024, with revenues reaching $1.1 billion and adjusted EBITDA of $248 million. Company executives forecast capital expenditures in the fourth quarter to be approximately $200 million and forecast 2025 capital expenditures to be approximately $650 million. These recent developments underscore Liberty Oilfield Services’ commitment to efficiency improvements and strategic investments.
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