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 an 11.8% gain in the past week. The shares were sold at a weighted average price of $20.8241, with transaction prices ranging from $20.29 to $21.015. This sale, executed under a pre-established Rule 10b5-1 trading plan, amounted to a total value of approximately $416,482. Following the transaction, Stock retains ownership of 680,207 shares in the company. According to InvestingPro analysis, Liberty Energy trades at an attractive P/E ratio of 9.8x and maintains a moderate debt level, with several additional bullish indicators available to subscribers. The company's next earnings report is scheduled for January 23, 2025.
In other recent news, Liberty Oilfield Services (NYSE:LBRT) reported strong third-quarter results, 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. The company's executives anticipate increased completions activity and healthy free cash flow generation in 2025, projecting Q4 capital expenditures to be around $200 million and 2025 capital expenditures at approximately $650 million.
In addition, Liberty Oilfield Services is undergoing significant leadership changes. Christopher A. Wright, the Founder, Chairman of the Board, Director, and CEO, tendered his resignation upon his nomination as U.S. Secretary of Energy. In response, the Board appointed William Kimble as the non-executive Chairman and Ron Gusek as the new CEO.
Several financial adjustments have also been made recently. Goldman Sachs initiated coverage with a Neutral rating and set a price target for Liberty Oilfield Services at $19.00, citing the attractiveness of the company's significant share buyback program. However, Stifel, RBC Capital Markets, and Citi have all reduced 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 retains an Outperform rating and Citi has downgraded the company to Neutral.
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