Liberty Energy Inc. (NYSE:LBRT), an energy services company with a market capitalization of $3.2 billion and strong financial health according to InvestingPro analysis, reported that Chief Financial Officer Michael Stock has recently sold shares of the company, according to a filing with the Securities and Exchange Commission. On December 30, Stock sold 5,000 shares of Class A Common Stock at a price of $19.51 per share, totaling $97,550. The stock, which currently trades at $19.67 and appears slightly undervalued based on InvestingPro's Fair Value analysis, has delivered a 10% return over the past year. This transaction was conducted under a Rule 10b5-1 trading plan that Stock adopted on December 4, 2023, which commenced in March 2024. Following this sale, Stock holds 700,207 shares directly. For deeper insights into Liberty Energy's valuation and over 30 key financial metrics, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Liberty Oilfield Services (NYSE:LBRT) has been the subject of several financial adjustments and leadership changes. The company's robust third quarter results for 2024 were highlighted by revenues of $1.1 billion and an 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 other North American companies as potentially offering a more compelling combination of growth and returns.
In terms of leadership, Liberty Energy announced significant changes following the nomination of Christopher A. Wright, the company's Founder, Chairman of the Board, Director, and CEO, to the position of U.S. Secretary of Energy. William Kimble and Ron Gusek were appointed as the non-executive Chairman of the Board and the new CEO, respectively.
Analysts from 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 target price due to revised fourth-quarter EBITDA estimates and less optimistic projections for 2025.
Looking ahead, Liberty Oilfield Services anticipates increased completions activity and healthy free cash flow generation in 2025, with projected Q4 capital expenditures around $200 million and forecasted 2025 capital expenditures at approximately $650 million.
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