Liberty Energy Inc. (NYSE:LBRT) Shares Sold by Millennium Management LLC

Millennium Management LLC decreased its position in Liberty Energy Inc. (NYSE:LBRT) by 9.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,076,541 shares of the company’s stock after selling 110,545 shares during the period. Millennium Management LLC’s holdings in Liberty Energy were worth $22,489,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. American Century Companies Inc. lifted its position in shares of Liberty Energy by 17.6% during the 2nd quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock valued at $82,754,000 after buying an additional 594,051 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Liberty Energy by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 2,634,256 shares of the company’s stock valued at $55,030,000 after purchasing an additional 67,362 shares in the last quarter. Hennessy Advisors Inc. grew its position in shares of Liberty Energy by 48.0% in the second quarter. Hennessy Advisors Inc. now owns 1,981,100 shares of the company’s stock valued at $41,385,000 after purchasing an additional 642,700 shares during the period. LSV Asset Management increased its stake in shares of Liberty Energy by 19.5% during the second quarter. LSV Asset Management now owns 1,717,591 shares of the company’s stock worth $35,880,000 after purchasing an additional 280,550 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Liberty Energy during the 1st quarter worth about $27,809,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

Insider Activity

In other Liberty Energy news, CFO Michael Stock sold 20,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $22.92, for a total value of $458,400.00. Following the transaction, the chief financial officer now owns 765,207 shares of the company’s stock, valued at $17,538,544.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 99,374 shares of company stock valued at $2,037,548. 3.60% of the stock is currently owned by company insiders.

Liberty Energy Stock Performance

NYSE LBRT opened at $20.51 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35. The stock’s fifty day moving average is $20.39 and its two-hundred day moving average is $21.37. The firm has a market capitalization of $3.42 billion, a P/E ratio of 7.49, a price-to-earnings-growth ratio of 1.24 and a beta of 1.68. Liberty Energy Inc. has a fifty-two week low of $16.33 and a fifty-two week high of $24.75.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company posted $0.87 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. On average, research analysts anticipate that Liberty Energy Inc. will post 2.18 earnings per share for the current year.

Liberty Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.37%. Liberty Energy’s dividend payout ratio (DPR) is 10.22%.

Analysts Set New Price Targets

Several research firms recently issued reports on LBRT. Bank of America lowered their price objective on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Piper Sandler lowered their price target on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Citigroup dropped their price target on Liberty Energy from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday. TD Cowen decreased their price objective on Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Friday, July 19th. Finally, Barclays dropped their target price on shares of Liberty Energy from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Liberty Energy presently has an average rating of “Moderate Buy” and an average price target of $24.00.

About Liberty Energy

Liberty Energy Inc provides hydraulic services and related technologies to onshore oil and natural gas exploration, and production companies in North America. The company offers hydraulic fracturing services, including complementary services, such as wireline services, proppant delivery solutions, field gas processing and treating, compressed natural gas (CNG) delivery, data analytics, related goods comprising sand mine operations, and technologies; and well site fueling and logistics.