Bullish indicating open at $55-$60, IPO prices at $37
DENVER-based Liberty Energy Inc. (NYSE:LBRT), currently trading at $11.39 with a market capitalization of $1.85 billion, announced significant changes to its corporate governance following a vote by shareholders at the annual meeting held on Monday. The oil and gas services company, which maintains a strong financial health score according to InvestingPro analysis, reported through an 8-K filing with the U.S. Securities and Exchange Commission that its stockholders approved a series of amendments to its charter and bylaws.
The approved amendments, effective Monday, include the declassification of the company’s board of directors, the elimination of supermajority voting requirements for charter and bylaw amendments, and the limitation of liability for certain officers. These changes were detailed in the company’s proxy statement filed on March 6, 2025. The governance changes come as management demonstrates strong shareholder focus, with active share buyback programs and three consecutive years of dividend increases, as noted in InvestingPro’s analysis.
In addition to governance changes, shareholders elected three Class III directors to the board for a three-year term and ratified the appointment of Deloitte & Touche LLP as the company’s independent registered public accounting firm for the year ending December 31, 2025. The advisory vote to approve executive compensation also passed, and it was determined that such votes will be held annually.
One proposal that did not pass was an amendment to delete the waiver of Section 203 of the Delaware General Corporation Law. All other miscellaneous amendments aimed at clarifying and updating the company’s charter were approved.
The specifics of the amendments, which align with the proposals outlined in the proxy statement, are now part of the company’s Second Amended and Restated Certificate of Incorporation and Third Amended and Restated Bylaws. These documents have been filed with the Delaware Secretary of State as of Monday.
The changes come as Liberty Energy Inc., which operates under the industrial classification of oil and gas field services, continues to adapt its corporate structure in an evolving energy sector. With a P/E ratio of 7.32 and trading below book value, InvestingPro’s Fair Value analysis suggests the stock is currently undervalued, despite generating $4.2 billion in revenue over the last twelve months. The company’s business address is at 950 17th Street, Suite 2400, Denver, CO 80202, and it is known by its former name, Liberty Oilfield Services Inc ., before the name change in 2017.
This report is based on a press release statement and the company’s SEC filing.
In other recent news, Liberty Energy reported mixed financial results for Q1 2025, with revenue surpassing expectations at $977 million, compared to a forecast of $956.66 million. However, the company’s earnings per share (EPS) fell short, coming in at $0.04 against a predicted $0.0575. Liberty Energy’s management has reaffirmed its full-year EBITDA guidance, ranging from $700 million to $750 million, despite acknowledging potential risks such as tariffs and changes in OPEC+ policy. On another note, JPMorgan analyst Sean Meakim adjusted the price target for Liberty Energy to $16.00, down from the previous $18.00, while maintaining a Neutral rating on the shares. Liberty Energy has also signed a Memorandum of Understanding with Imperial Land Corporation and Range Resources (NYSE:RRC) for power generation infrastructure at an industrial park, with potential operations starting in 2027. Additionally, the company is focusing on smaller data center projects with power requirements of up to approximately 250 megawatts, with expectations to expand as it builds expertise and the market opportunity grows. Liberty Energy now expects initial delivery of mobile power generation capacity in the third quarter of 2025, with operations commencing in the first quarter of 2026, representing a delay from previous estimates.
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