Liberty Energy Inc. (NYSE:LBRT) CEO and Chairman of the Board, Christopher A. Wright, has sold a total of $903,000 worth of company stock, according to the latest SEC filings. The transactions occurred over two days, with shares sold at prices ranging between $22.49 and $22.66.
On April 3, 2024, Wright sold 20,000 shares of Liberty Energy's Class A Common Stock at an average price of $22.49 per share. The following day, another 20,000 shares were sold at an average price of $22.66 per share. These sales were conducted under a pre-arranged trading plan, known as a Rule 10b5-1 plan, which Wright had adopted on December 13, 2023.
The SEC filing indicates that the sales were made in multiple transactions at various prices. On April 3, the shares were sold at prices ranging from $22.04 to $22.735, and on April 4, the range was $22.42 to $22.94. The weighted average prices reported account for these varying sale prices.
Following these transactions, Wright still holds a substantial amount of Liberty Energy stock, with 2,858,814 shares remaining in his possession. The company, based in Denver, Colorado, operates in the oil and gas field services industry and is known for its specialized services in the energy sector.
Investors often monitor the buying and selling activities of company executives as these can provide insights into their perspective on the company's future performance. However, sales under a 10b5-1 trading plan are scheduled in advance to avoid any accusations of insider trading, and therefore may not always reflect the executive's current outlook on the company's prospects.
As of now, Liberty Energy has not issued any public statement regarding the transactions carried out by its CEO.
InvestingPro Insights
Amidst the recent stock transactions by Liberty Energy Inc.'s CEO, Christopher A. Wright, the company's financial health and stock performance metrics offer additional context for investors. According to InvestingPro data, Liberty Energy boasts a market capitalization of $3.75 billion and operates with a moderate level of debt, suggesting a stable financial foundation.
The company's stock has been trading at a low P/E ratio of 6.98, which is attractive relative to its near-term earnings growth. This low P/E ratio, combined with a PEG ratio of just 0.13 for the last twelve months as of Q4 2023, indicates that the stock may be undervalued considering its growth potential. Moreover, Liberty Energy's gross profit margin stands at a robust 29.46% for the same period, highlighting efficient operations and a strong ability to generate profit from its revenues.
Investors might also find the company's stock performance noteworthy. Liberty Energy has experienced a significant return over the last week, with a 9.17% price total return, and an impressive 72.41% return over the past year. This strong performance is further underscored by the stock trading near its 52-week high, at 99.65% of the peak value.
For those looking for more detailed insights, there are additional InvestingPro Tips available, including the company's cash flow sufficiency to cover interest payments and its liquidity position. With these metrics in mind, investors may consider exploring the full suite of tips available on InvestingPro, which currently lists 11 more tips for Liberty Energy. To access these insights and enhance your investment strategy, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at https://www.investing.com/pro/LBRT.
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