Liberty Energy, Inc. Class A (LBRT)

Over the past six months, Liberty Energy's stock price has experienced significant fluctuations. In July 2025, LBRT shares plunged 40.9% due to weakening profitability, pricing pressures, higher operational costs, heavy reliance on North American markets, and volatile oil prices. The company reported a 75.4% year-over-year decline in net income for Q1 2025. In October 2025, the stock surged 28% due to excitement surrounding its developing AI-linked power generation business. Liberty Energy missed average analyst estimates for earnings per share in Q1 2025 and Q3 2025. Several research firms have adjusted their ratings and price targets. On October 29, 2025, Liberty Energy Inc. announced a dual listing on NYSE Texas. On January 5, 2026, Liberty Energy and Vantage Data Centers announced a strategic partnership to develop and operate one gigawatt of power solutions for next-generation data centers.

The operational performance and demand for Liberty Energy's products and services are influenced by seasonal demand, project scheduling, and equipment maintenance cycles. The oil and gas completions market is highly cyclical, with an expected "end-of-year slowdown" and moderating activity in 2026 due to low oil prices. Activity is also expected to slow in the second half of 2025, indicating cautious capital spending by producers.

Liberty Energy Inc. (LBRT) is an energy services company specializing in completion services and technologies for onshore oil, natural gas, and enhanced geothermal energy producers in North America. The company's core business is hydraulic fracturing services, including state-of-the-art fracturing equipment, fluids, and proppants. They offer wireline services, proppant delivery solutions, field gas processing and treating, compressed natural gas (CNG) delivery, data analytics, well site fueling and logistics, and distributed power solutions through Liberty Power Innovations LLC.

Liberty Energy Inc. primarily operates in all active shale basins across North America, including the Permian Basin, Williston Basin, Eagle Ford Shale, Haynesville Shale, Denver-Julesburg Basin (DJ Basin), Powder River Basin, Appalachian Basin (Marcellus Shale and Utica Shale), Anadarko Basin, Uinta Basin, and San Juan Basin. The company also has operations in the Beetaloo Basin in the Northern Territory, Australia.

In the past year, Liberty Energy's brand reputation has been impacted by several events. The company settled a racial discrimination case with the Equal Employment Opportunity Commission for long-term toleration of racial slurs at a Texas oil field. Liberty Energy sued the federal government over rules related to Environmental, Social, and Governance (ESG) reporting and the United States Securities and Exchange Commission's requirements for reporting climate risk. In early 2025, Ron Gusek replaced Chris Wright as CEO after Wright was approved to become the U.S. Secretary of Energy.

Liberty Energy Inc.'s ownership is highly concentrated, with a significant portion held by institutional investors and a large insider block. Key institutional shareholders include BlackRock, Inc., Vanguard Group Inc, Dimensional Fund Advisors Lp, Franklin Resources Inc, American Century Companies Inc, State Street Corp, Fmr Llc, Macquarie Group Ltd, Geode Capital Management, Llc, and Charles Schwab Investment Management Inc. Limited Schlumberger is the largest individual Liberty Energy shareholder, owning 37.23% of the company. Other significant insider owners include Robert Day, Sh Ventures Los LLC, and Bay Resource Partners LP.