Liberty Energy Inc. (NYSE:LBRT) Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC raised its position in Liberty Energy Inc. (NYSE:LBRT) by 2,958.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,242 shares of the company’s stock after acquiring an additional 51,501 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Liberty Energy were worth $1,016,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. EdgeRock Capital LLC purchased a new position in shares of Liberty Energy in the second quarter valued at approximately $32,000. GAMMA Investing LLC lifted its holdings in Liberty Energy by 69.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock worth $36,000 after buying an additional 713 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Liberty Energy by 27.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock worth $59,000 after buying an additional 709 shares in the last quarter. nVerses Capital LLC boosted its position in Liberty Energy by 45.0% in the 2nd quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock valued at $61,000 after buying an additional 900 shares during the period. Finally, CWM LLC grew its stake in shares of Liberty Energy by 43.3% in the second quarter. CWM LLC now owns 6,213 shares of the company’s stock worth $130,000 after acquiring an additional 1,876 shares in the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Liberty Energy

In other news, CFO Michael Stock sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $21.01, for a total transaction of $105,050.00. Following the transaction, the chief financial officer now directly owns 745,207 shares in the company, valued at approximately $15,656,799.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Michael Stock sold 5,000 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $21.01, for a total transaction of $105,050.00. Following the completion of the sale, the chief financial officer now owns 745,207 shares in the company, valued at $15,656,799.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $19.77, for a total transaction of $395,400.00. Following the completion of the transaction, the chief executive officer now owns 2,638,813 shares in the company, valued at approximately $52,169,333.01. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,000 shares of company stock worth $1,945,650. 3.60% of the stock is owned by insiders.

Analysts Set New Price Targets

LBRT has been the topic of several analyst reports. Barclays reduced their price objective on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Wednesday. TD Cowen decreased their price objective on Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Friday, July 19th. Bank of America cut their target price on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Citigroup decreased their price target on shares of Liberty Energy from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Finally, Stifel Nicolaus dropped their price objective on shares of Liberty Energy from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Liberty Energy Price Performance

Shares of NYSE:LBRT opened at $20.06 on Thursday. Liberty Energy Inc. has a 12 month low of $16.69 and a 12 month high of $24.75. The firm has a market capitalization of $3.34 billion, a P/E ratio of 7.32, a P/E/G ratio of 1.20 and a beta of 1.68. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 1.07. The company’s fifty day moving average price is $20.13 and its 200 day moving average price is $21.37.

Liberty Energy (NYSE:LBRT) last posted its earnings results on Wednesday, July 17th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 earnings per share. As a group, sell-side analysts predict that Liberty Energy Inc. will post 2.14 earnings per share for the current fiscal year.

Liberty Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.08 per share. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.32 annualized dividend and a yield of 1.60%. Liberty Energy’s payout ratio is 10.22%.

Liberty Energy Company Profile

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.