Liberty Energy Inc. (NYSE:LBRT) Shares Bought by US Bancorp DE

US Bancorp DE lifted its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 93.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,180 shares of the company’s stock after acquiring an additional 2,016 shares during the quarter. US Bancorp DE’s holdings in Liberty Energy were worth $80,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new stake in Liberty Energy in the 2nd quarter worth about $32,000. GAMMA Investing LLC boosted its holdings in Liberty Energy by 69.2% in the second quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock valued at $36,000 after purchasing an additional 713 shares during the last quarter. nVerses Capital LLC grew its holdings in Liberty Energy by 45.0% during the 2nd quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock worth $61,000 after acquiring an additional 900 shares in the last quarter. CWM LLC lifted its holdings in shares of Liberty Energy by 43.3% in the 2nd quarter. CWM LLC now owns 6,213 shares of the company’s stock worth $130,000 after purchasing an additional 1,876 shares during the last quarter. Finally, Headlands Technologies LLC grew its stake in Liberty Energy by 163.5% during the 2nd quarter. Headlands Technologies LLC now owns 7,057 shares of the company’s stock worth $147,000 after buying an additional 4,379 shares during the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LBRT has been the topic of a number of recent research reports. Citigroup cut Liberty Energy from a “buy” rating to a “neutral” rating and cut their target price for the company from $25.00 to $19.00 in a research note on Friday, October 18th. Stifel Nicolaus cut their price objective on shares of Liberty Energy from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Royal Bank of Canada decreased their target price on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Atb Cap Markets cut Liberty Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Finally, Barclays decreased their price target on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Liberty Energy currently has an average rating of “Moderate Buy” and a consensus price target of $22.89.

Liberty Energy Price Performance

Shares of NYSE:LBRT opened at $16.90 on Friday. The company’s fifty day moving average is $18.93 and its two-hundred day moving average is $20.63. The company has a market cap of $2.76 billion, a P/E ratio of 8.05 and a beta of 1.70. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. Liberty Energy Inc. has a 12-month low of $16.57 and a 12-month high of $24.75.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. Liberty Energy’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.85 EPS. Equities analysts expect that Liberty Energy Inc. will post 1.75 earnings per share for the current fiscal year.

Liberty Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.08 dividend. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 1.89%. The ex-dividend date is Friday, December 6th. Liberty Energy’s payout ratio is 13.33%.

Insiders Place Their Bets

In other news, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 2,638,813 shares of the company’s stock, valued at approximately $52,169,333.01. This trade represents a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael Stock sold 5,000 shares of Liberty Energy stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $21.01, for a total value of $105,050.00. Following the completion of the transaction, the chief financial officer now directly owns 745,207 shares of the company’s stock, valued at $15,656,799.07. This represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 99,037 shares of company stock valued at $1,911,802 in the last quarter. Insiders own 3.60% of the company’s stock.

Liberty Energy 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.