Liberty Energy Inc. (NYSE:LBRT) Shares Purchased by State Street Corp

State Street Corp increased its stake in shares of Liberty Energy Inc. (NYSE:LBRT) by 2.7% in the third quarter, HoldingsChannel.com reports. The firm owned 6,662,830 shares of the company’s stock after buying an additional 176,887 shares during the period. State Street Corp’s holdings in Liberty Energy were worth $127,193,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in Liberty Energy by 17.1% during the third quarter. FMR LLC now owns 18,115,282 shares of the company’s stock worth $345,821,000 after purchasing an additional 2,640,119 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Liberty Energy by 15.9% during the 3rd quarter. Pacer Advisors Inc. now owns 7,012,382 shares of the company’s stock valued at $133,866,000 after acquiring an additional 963,068 shares during the period. Canoe Financial LP boosted its holdings in Liberty Energy by 20.4% during the 3rd quarter. Canoe Financial LP now owns 4,124,695 shares of the company’s stock valued at $79,408,000 after acquiring an additional 699,500 shares during the period. Hennessy Advisors Inc. increased its stake in Liberty Energy by 48.0% during the second quarter. Hennessy Advisors Inc. now owns 1,981,100 shares of the company’s stock worth $41,385,000 after purchasing an additional 642,700 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Liberty Energy by 17.6% during the second quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock worth $82,754,000 after purchasing an additional 594,051 shares in the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, CFO Michael Stock sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $21.01, for a total value of $105,050.00. Following the completion of the sale, the chief financial officer now owns 745,207 shares in the company, valued at approximately $15,656,799.07. The trade was a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $19.91, for a total transaction of $398,200.00. Following the transaction, the chief executive officer now owns 2,678,813 shares in the company, valued at approximately $53,335,166.83. This trade represents a 0.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,973 shares of company stock worth $2,144,485 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Liberty Energy Price Performance

Shares of NYSE LBRT opened at $18.97 on Friday. The stock’s 50-day simple moving average is $18.30 and its 200-day simple moving average is $20.00. The firm has a market capitalization of $3.10 billion, a PE ratio of 9.03 and a beta of 1.71. Liberty Energy Inc. has a fifty-two week low of $16.57 and a fifty-two week high of $24.75. 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 released its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the business posted $0.85 EPS. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, equities research analysts forecast that Liberty Energy Inc. will post 1.72 EPS for the current fiscal year.

Liberty Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.08 dividend. The ex-dividend date is Friday, December 6th. This is a boost from Liberty Energy’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a yield of 1.69%. Liberty Energy’s payout ratio is 15.24%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LBRT shares. Barclays dropped their price objective on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Citigroup lowered Liberty Energy from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $25.00 to $19.00 in a research report on Friday, October 18th. Evercore ISI upgraded Liberty Energy to a “strong-buy” rating in a report on Thursday, October 17th. Stifel Nicolaus lowered their target price on Liberty Energy from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Finally, Atb Cap Markets upgraded Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Liberty Energy has an average rating of “Moderate Buy” and an average price target of $22.50.

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.