In a recent transaction, Ryan T. Gosney, the Chief Accounting Officer of Liberty Energy Inc. (NYSE:LBRT), sold shares of the company's stock. The sales, which occurred on two separate dates, amounted to a total of $143,000.
On May 17, 2024, Gosney sold 2,000 shares at a price of $23.50 per share. Following this transaction, he sold an additional 4,000 shares on May 20, 2024, at a price of $24.00 per share. These sales represent a price range between $23.50 and $24.00 for the shares disposed of by the executive.
After these transactions, Gosney's holdings in Liberty Energy Inc. decreased but still amounted to a significant number of shares, reflecting his ongoing stake in the company. The sales were made public through a Form 4 filing with the Securities and Exchange Commission, providing transparency into the trading activities of the company's insiders.
Liberty Energy Inc., known for its services in the oil and gas field, operates under the industrial classification of oil and gas field services, NBC, and is headquartered in Denver, Colorado. The company, which has undergone a name change from Liberty Oilfield Services (NYSE:LBRT) Inc. to Liberty Energy Inc., continues to be a key player in the energy and transportation sector.
Investors often monitor insider transactions as they can provide insights into the executive's view of the company's stock value and future performance. However, it's important to note that these transactions do not necessarily indicate a change in company fundamentals, and investors should consider a variety of factors when evaluating their investment decisions.
InvestingPro Insights
Liberty Energy Inc. (NYSE: LBRT) has recently seen insider trading activity, with Chief Accounting Officer Ryan T. Gosney selling shares at prices that closely align with the company's current market performance. According to InvestingPro data, Liberty Energy's market capitalization stands at $4.01 billion, with a Price/Earnings (P/E) ratio of 8.58, which adjusts slightly to 8.4 when considering the last twelve months as of Q1 2024. This valuation comes as the company's revenue for the same period was reported at $4.558 billion, with a slight decline in growth of -1.29%.
InvestingPro Tips highlight several key points for investors considering Liberty Energy's stock. Analysts have revised their earnings estimates downwards for the upcoming period, which may impact investor expectations. However, it's worth noting that the stock is known to trade with low price volatility, which could appeal to investors looking for stability. Additionally, the company's cash flows are reported to be robust enough to cover interest payments comfortably, and liquid assets exceed short-term obligations, indicating a sound liquidity position.
Investors may also be interested to know that Liberty Energy is trading near its 52-week high, with the price representing 98.36% of this peak. The company's shares are currently priced at $23.68, with analysts predicting profitability for the year. There are 8 additional InvestingPro Tips available for Liberty Energy, which can provide further insights into the company's financial health and stock performance. For those looking to delve deeper, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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