Liberty Energy Inc. (NYSE:LBRT), a $3.4 billion market cap energy services company, recently disclosed that its Chief Financial Officer, Michael Stock, sold 20,000 shares of Class A Common Stock on January 2, 2025. The company has shown strong momentum with a rise of 11.8% in the past week. The stock traded at a weighted average price of $20.8241, with transaction prices ranging from $20.29 to $21.015. These sales, made pursuant to a predetermined Rule 10b5-1 trading plan, had a total value of approximately $416,482. Following the transaction, Stock retains ownership of 680,207 shares of the company’s stock. According to InvestingPro analysis, Liberty Energy trades at an attractive P/E ratio of 9.8x and maintains moderate debt levels, with several additional growth indicators available to subscribers. The company’s next earnings report is scheduled for January 23, 2025.
In other recent news, Liberty Oilfield Services (NYSE: ) reported strong third-quarter results, with revenue hitting $1.1 billion and 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. Company executives anticipate increased completion activity and healthy free cash flow generation in 2025, projecting fourth quarter capital expenditures of approximately $200 million and 2025 capital expenditures of approximately $650 million.
In addition, Liberty Oilfield Services is undergoing significant leadership changes. Christopher A. Wright, Founder, Chairman, Director and CEO, has resigned following his appointment as US Secretary of Energy. In response, the Board appointed William Kimble as non-executive chairman and Ron Gusek as the new chief executive officer.
Several financial adjustments have also been made recently. Goldman Sachs initiated coverage with a Neutral rating and set a $19.00 price target on Liberty Oilfield Services, citing the appeal of the company’s significant share buyback program. However, Stifel, RBC Capital Markets and Citi cut their price targets for the company due to disappointing fourth-quarter guidance, pricing challenges and less optimistic projections for 2025. Despite these adjustments, Stifel maintains a Buy rating, while RBC Capital Markets maintains a rating Outperform, and Citi downgraded the company to Neutral.
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