Amalgamated Bank Has $926,000 Position in Liberty Energy Inc. (NYSE:LBRT)

Amalgamated Bank increased its stake in Liberty Energy Inc. (NYSE:LBRT) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,494 shares of the company’s stock after purchasing an additional 1,711 shares during the period. Amalgamated Bank’s holdings in Liberty Energy were worth $926,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. lifted its position in Liberty Energy by 2.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 81,515 shares of the company’s stock valued at $1,556,000 after purchasing an additional 2,128 shares during the period. Farther Finance Advisors LLC lifted its holdings in Liberty Energy by 12.4% in the third quarter. Farther Finance Advisors LLC now owns 22,613 shares of the company’s stock valued at $432,000 after buying an additional 2,494 shares during the period. Capital Advisors Inc. OK boosted its stake in Liberty Energy by 58.0% in the third quarter. Capital Advisors Inc. OK now owns 21,570 shares of the company’s stock valued at $412,000 after acquiring an additional 7,920 shares during the last quarter. US Bancorp DE grew its holdings in Liberty Energy by 93.2% during the 3rd quarter. US Bancorp DE now owns 4,180 shares of the company’s stock worth $80,000 after acquiring an additional 2,016 shares during the period. Finally, New York State Teachers Retirement System raised its position in shares of Liberty Energy by 2.7% during the 3rd quarter. New York State Teachers Retirement System now owns 86,230 shares of the company’s stock valued at $1,646,000 after acquiring an additional 2,289 shares during the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

Insider Activity at Liberty Energy

In related news, CEO Christopher A. Wright sold 2,037 shares of Liberty Energy stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $18.15, for a total value of $36,971.55. Following the sale, the chief executive officer now owns 2,578,813 shares of the company’s stock, valued at approximately $46,805,455.95. The trade was a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Stock sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $20.01, for a total value of $300,150.00. Following the transaction, the chief financial officer now directly owns 750,207 shares of the company’s stock, valued at $15,011,642.07. This trade represents a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 99,037 shares of company stock valued at $1,911,802. 3.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LBRT shares. Stifel Nicolaus reduced their price target on Liberty Energy from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Barclays reduced their target price on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Evercore ISI raised Liberty Energy to a “strong-buy” rating in a research note on Thursday, October 17th. Citigroup lowered shares of Liberty Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $25.00 to $19.00 in a research note on Friday, October 18th. Finally, Atb Cap Markets cut shares of Liberty Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Five research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.89.

Liberty Energy Stock Performance

Shares of LBRT opened at $17.34 on Friday. The firm has a market cap of $2.83 billion, a P/E ratio of 8.26 and a beta of 1.70. Liberty Energy Inc. has a twelve month low of $16.57 and a twelve month 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. The firm’s 50 day moving average price is $19.01 and its two-hundred day moving average price is $20.70.

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

Liberty Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, December 6th. This is an increase from Liberty Energy’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.85%. Liberty Energy’s dividend payout ratio (DPR) is presently 15.24%.

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.