Bullish indicating open at $55-$60, IPO prices at $37
Michael Stock, the Chief Financial Officer of Liberty Energy Inc. (NYSE:LBRT), recently executed a stock sale transaction, according to a filing with the Securities and Exchange Commission. On April 2, Stock sold 5,000 shares of Class A Common Stock at a price of $16 per share, totaling $80,000. The transaction occurred as the stock trades near $13.12, with Liberty Energy showing strong fundamentals reflected in its "GREAT" overall financial health score according to InvestingPro analysis.
Earlier, on April 1, Stock acquired 123,340 shares of Class A Common Stock without any monetary exchange as part of a performance-based award. Additionally, on the same day, 75,018 shares were withheld to cover tax obligations linked to the vesting of restricted stock units. With the company currently appearing undervalued based on InvestingPro’s comprehensive Fair Value analysis, investors might find particular interest in the timing of these transactions. The company is set to report earnings on April 16.
These transactions were carried out under a pre-established Rule 10b5-1 trading plan, which was adopted by Stock in September 2024. Following these transactions, Stock holds 755,614 shares of Liberty Energy, representing a significant stake in the $2.1 billion market cap company.
In other recent news, Liberty Energy Inc. has made significant strides with the acquisition of IMG Energy Solutions, a developer of distributed power systems. This acquisition aims to enhance Liberty Power Innovations’ offerings by integrating IMG’s engineering, software, and power marketing expertise. In another development, Morgan Stanley (NYSE:MS) upgraded Liberty Energy’s stock rating from Equalweight to Overweight, citing the company’s potential upside and favorable risk-reward balance. The firm’s analysts believe that Liberty’s Completion Services business fundamentals are stabilizing and that the Power Generation (HM:PGV) Services business’s earnings prospects are underestimated.
Conversely, RBC Capital Markets downgraded Liberty Energy from Outperform to Sector Perform, adjusting the price target to $19. This reflects a reevaluation of the company’s investment profile as it ventures into the power generation market. Additionally, Citi analyst Scott Gruber revised the price target for Liberty Oilfield Services to $16 from $20, maintaining a Neutral rating. The adjustment is due to a reassessment of the company’s first-quarter EBITDA projections and the pace of power deployment.
In corporate governance news, Liberty Energy announced the resignation of board member Audrey Robertson, pending her confirmation by the U.S. Senate as Assistant Secretary of Energy, Efficiency and Renewables. Liberty Energy has not yet announced a successor for Robertson’s position on the board. These developments highlight Liberty Energy’s strategic moves and challenges as it navigates the evolving energy landscape.
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