State of New Jersey Common Pension Fund D Has $1.81 Million Stock Holdings in Liberty Energy Inc. (NYSE:LBRT)

State of New Jersey Common Pension Fund D increased its position in Liberty Energy Inc. (NYSE:LBRT) by 20.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,953 shares of the company’s stock after purchasing an additional 15,810 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Liberty Energy were worth $1,813,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LBRT. Covestor Ltd boosted its stake in shares of Liberty Energy by 96.8% in the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company’s stock valued at $33,000 after purchasing an additional 838 shares during the last quarter. CWA Asset Management Group LLC bought a new position in Liberty Energy in the third quarter valued at approximately $454,000. Verity Asset Management Inc. acquired a new stake in Liberty Energy during the 3rd quarter worth $377,000. Principal Financial Group Inc. raised its position in shares of Liberty Energy by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 872,215 shares of the company’s stock valued at $16,651,000 after acquiring an additional 37,927 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in shares of Liberty Energy by 3.7% in the 3rd quarter. Amalgamated Bank now owns 48,494 shares of the company’s stock valued at $926,000 after purchasing an additional 1,711 shares during the period. 98.22% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Liberty Energy news, CFO Michael Stock sold 5,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $17.21, for a total value of $86,050.00. Following the completion of the sale, the chief financial officer now owns 725,207 shares in the company, valued at $12,480,812.47. This trade represents a 0.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $19.91, for a total transaction of $398,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,678,813 shares of the company’s stock, valued at approximately $53,335,166.83. This trade represents a 0.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 99,037 shares of company stock valued at $1,911,802 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

Liberty Energy Stock Up 4.9 %

NYSE:LBRT opened at $17.73 on Tuesday. The stock has a 50-day simple moving average of $18.93 and a 200 day simple moving average of $20.63. Liberty Energy Inc. has a 52-week low of $16.57 and a 52-week high of $24.75. The company has a market cap of $2.90 billion, a PE ratio of 8.44 and a beta of 1.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 1.23.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.10). The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. Liberty Energy’s revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 earnings per share. On average, sell-side analysts expect that Liberty Energy Inc. will post 1.75 EPS for the current fiscal year.

Liberty Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid 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 1.81%. The ex-dividend date is Friday, December 6th. Liberty Energy’s payout ratio is presently 15.24%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wells Fargo & Company decreased their price objective on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Atb Cap Markets cut Liberty Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Evercore ISI raised shares of Liberty Energy to a “strong-buy” rating in a research note on Thursday, October 17th. Royal Bank of Canada lowered 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 note on Friday, October 18th. Finally, Barclays reduced their price target on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.89.

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.