Liberty Energy Inc. (NYSE:LBRT) Stock Position Reduced by Ritholtz Wealth Management

Ritholtz Wealth Management lessened its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 34.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 106,734 shares of the company’s stock after selling 55,086 shares during the period. Ritholtz Wealth Management owned about 0.07% of Liberty Energy worth $2,123,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of LBRT. Covestor Ltd raised its position in shares of Liberty Energy by 96.8% during the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company’s stock worth $33,000 after purchasing an additional 838 shares during the period. Quarry LP raised its position in shares of Liberty Energy by 237.5% during the 3rd quarter. Quarry LP now owns 1,991 shares of the company’s stock worth $38,000 after purchasing an additional 1,401 shares during the period. GAMMA Investing LLC increased its position in Liberty Energy by 82.1% in the 3rd quarter. GAMMA Investing LLC now owns 3,174 shares of the company’s stock valued at $61,000 after acquiring an additional 1,431 shares during the period. US Bancorp DE increased its position in Liberty Energy by 93.2% in the 3rd quarter. US Bancorp DE now owns 4,180 shares of the company’s stock valued at $80,000 after acquiring an additional 2,016 shares during the period. Finally, KBC Group NV increased its position in Liberty Energy by 24.8% in the 3rd quarter. KBC Group NV now owns 4,906 shares of the company’s stock valued at $94,000 after acquiring an additional 974 shares during the period. Institutional investors own 98.22% of the company’s stock.

Liberty Energy Stock Performance

LBRT opened at $22.67 on Friday. The firm has a market cap of $3.70 billion, a PE ratio of 10.79 and a beta of 1.66. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. The business has a fifty day simple moving average of $19.18 and a 200-day simple moving average of $19.74. Liberty Energy Inc. has a fifty-two week low of $16.57 and a fifty-two week 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 for the quarter, missing the consensus estimate of $0.55 by ($0.10). The company 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%. The business’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. As a group, equities analysts predict that Liberty Energy Inc. will post 1.66 EPS for the current fiscal year.

Insider Transactions at Liberty Energy

In other news, CEO Christopher A. Wright sold 12,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $17.44, for a total value of $209,280.00. Following the completion of the sale, the chief executive officer now owns 2,606,813 shares of the company’s stock, valued at $45,462,818.72. This trade represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Michael Stock sold 5,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $17.21, for a total value of $86,050.00. Following the sale, the chief financial officer now owns 725,207 shares of the company’s stock, valued at approximately $12,480,812.47. This represents a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,973 shares of company stock valued at $1,586,335 over the last quarter. Company insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on LBRT. Citigroup raised their target price on Liberty Energy from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group began coverage on Liberty Energy in a research report on Friday, December 13th. They issued a “neutral” rating and a $19.00 target price on the stock. Royal Bank of Canada lowered their target price on Liberty Energy from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Atb Cap Markets raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Finally, Stifel Nicolaus decreased their price target on Liberty Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.20.

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.