Liberty Energy Inc. (NYSE:LBRT) has reported that its Chairman of the Board and CEO, Christopher A. Wright, sold a total of 40,000 shares of the company's Class A Common Stock over two consecutive days. The transactions, which took place on March 18 and 19, 2024, amounted to a total sale value of $819,800.
On the first day, Wright sold 20,000 shares at a weighted average price of $20.27 per share. These shares were sold in multiple transactions with prices ranging from $20.13 to $20.37. The following day, an additional 20,000 shares were sold at a weighted average price of $20.72 per share, with individual sales prices ranging between $20.47 and $20.83.
The sales were conducted in accordance with a Rule 10b5-1 trading plan, which Wright had adopted on December 13, 2023, for sales beginning in March 2024. This plan allows company insiders to set up a predetermined schedule to sell company stocks at a time when they are not in possession of nonpublic information, to avoid accusations of insider trading.
After the completion of these transactions, Wright still owns a substantial stake in the company, with 2,810,402 shares of Liberty Energy Inc. remaining in his possession. Liberty Energy, headquartered in Denver, Colorado, operates within the oil and gas field services industry and is known for its specialized services in the energy sector.
Investors and followers of Liberty Energy Inc. can request more detailed information about the exact number of shares sold at each price point from the company, as Wright has undertaken to provide full information regarding the sales upon request.
The recent filings provide a glimpse into the trading activities of one of Liberty Energy's top executives and may be of interest to current and potential shareholders monitoring the company's insider transactions.
InvestingPro Insights
Liberty Energy Inc. (NYSE:LBRT) has been making headlines not only because of the insider trading activities of its CEO but also due to its noteworthy financial metrics and market performance. The company's aggressive share buyback strategy is an InvestingPro Tip that signals confidence from management in the company's value. With a market capitalization of $3.42 billion, Liberty Energy is operating with a modest price-to-earnings (P/E) ratio of 6.35, which is even more attractive when considering the adjusted P/E ratio for the last twelve months as of Q4 2023, standing at 6.19. This positions the company favorably in terms of near-term earnings growth potential.
InvestingPro Data further reveals that Liberty Energy has experienced a solid revenue growth of 14.43% over the last twelve months as of Q4 2023, despite a quarterly dip of -12.29%. The company's gross profit margin remains robust at 29.46%, with an operating income margin of 15.92%, underscoring efficient management and profitability. Moreover, the firm's ability to generate a high return over the last year, with a 1 Year Price Total Return of 64.26%, is an indication of strong market performance that could be enticing to investors.
For those looking to delve deeper into Liberty Energy's financial health and future prospects, more InvestingPro Tips are available, including insights on the company's debt levels, profitability predictions for the year, and liquidity status. With an additional 10 InvestingPro Tips listed on https://www.investing.com/pro/LBRT, investors can gain a comprehensive understanding of the company's position. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and stay ahead with informed investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.