Liberty Energy Inc. (NYSE:LBRT) Shares Purchased by Quest Partners LLC

Quest Partners LLC boosted its stake in shares of Liberty Energy Inc. (NYSE:LBRT) by 479.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 23,482 shares of the company’s stock after acquiring an additional 19,429 shares during the period. Quest Partners LLC’s holdings in Liberty Energy were worth $491,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LBRT. Diversified Trust Co lifted its stake in Liberty Energy by 2.5% in the 1st quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock valued at $427,000 after buying an additional 507 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Liberty Energy by 4.0% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 14,262 shares of the company’s stock worth $296,000 after acquiring an additional 543 shares during the last quarter. Perigon Wealth Management LLC increased its position in shares of Liberty Energy by 2.4% during the first quarter. Perigon Wealth Management LLC now owns 24,815 shares of the company’s stock worth $514,000 after purchasing an additional 571 shares in the last quarter. Andina Capital Management LLC raised its stake in Liberty Energy by 3.9% in the 2nd quarter. Andina Capital Management LLC now owns 18,599 shares of the company’s stock valued at $389,000 after purchasing an additional 691 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Liberty Energy by 27.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after purchasing an additional 709 shares in the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Liberty Energy

In related news, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $20.26, for a total transaction of $405,200.00. Following the sale, the chief executive officer now directly owns 2,758,813 shares of the company’s stock, valued at approximately $55,893,551.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $20.26, for a total transaction of $405,200.00. Following the sale, the chief executive officer now owns 2,758,813 shares in the company, valued at approximately $55,893,551.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael Stock sold 4,374 shares of Liberty Energy stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $21.01, for a total value of $91,897.74. Following the completion of the transaction, the chief financial officer now owns 785,207 shares of the company’s stock, valued at approximately $16,497,199.07. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,000 shares of company stock valued at $1,580,981. 3.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

LBRT has been the subject of a number of recent research reports. Bank of America reduced their target price on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Citigroup upgraded Liberty Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $24.00 to $32.00 in a research report on Wednesday, May 29th. Piper Sandler reduced their price objective on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. TD Cowen dropped their target price on Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a report on Friday, July 19th. Finally, Barclays lowered their price target on shares of Liberty Energy from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Liberty Energy presently has an average rating of “Moderate Buy” and a consensus target price of $24.78.

Liberty Energy Stock Up 1.6 %

Shares of LBRT opened at $19.14 on Friday. The company’s 50-day moving average price is $20.82 and its 200 day moving average price is $21.50. Liberty Energy Inc. has a 12-month low of $16.33 and a 12-month high of $24.75. The company has a current ratio of 1.35, a quick ratio of 1.07 and a debt-to-equity ratio of 0.17. The firm has a market cap of $3.16 billion, a P/E ratio of 6.99, a price-to-earnings-growth ratio of 1.13 and a beta of 1.69.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the business earned $0.87 earnings per share. On average, sell-side analysts forecast that Liberty Energy Inc. will post 2.17 earnings per share for the current year.

Liberty Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.46%. The ex-dividend date is Friday, September 6th. Liberty Energy’s payout ratio is 10.22%.

About Liberty Energy

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.