Los Angeles Capital Management LLC Trims Holdings in Liberty Energy Inc. (NYSE:LBRT)

Los Angeles Capital Management LLC reduced its stake in Liberty Energy Inc. (NYSE:LBRT) by 52.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 25,781 shares of the company’s stock after selling 28,281 shares during the period. Los Angeles Capital Management LLC’s holdings in Liberty Energy were worth $539,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Foundry Partners LLC grew its holdings in shares of Liberty Energy by 15.6% in the first quarter. Foundry Partners LLC now owns 209,056 shares of the company’s stock valued at $4,332,000 after purchasing an additional 28,153 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Liberty Energy by 114.2% in the 1st quarter. Russell Investments Group Ltd. now owns 174,265 shares of the company’s stock valued at $3,611,000 after buying an additional 92,923 shares during the period. Hennessy Advisors Inc. increased its holdings in shares of Liberty Energy by 14.1% during the 1st quarter. Hennessy Advisors Inc. now owns 1,338,400 shares of the company’s stock worth $27,732,000 after buying an additional 165,400 shares during the last quarter. LSV Asset Management raised its position in shares of Liberty Energy by 60.2% during the 1st quarter. LSV Asset Management now owns 1,437,041 shares of the company’s stock valued at $29,775,000 after buying an additional 539,861 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in Liberty Energy in the first quarter valued at approximately $690,000. 98.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Liberty Energy news, CFO Michael Stock sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $20.01, for a total transaction of $300,150.00. Following the completion of the transaction, the chief financial officer now owns 750,207 shares in the company, valued at approximately $15,011,642.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $20.26, for a total transaction of $405,200.00. Following the completion of the sale, the chief executive officer now owns 2,758,813 shares in the company, valued at $55,893,551.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael Stock sold 15,000 shares of the company’s 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 completion of the transaction, the chief financial officer now directly owns 750,207 shares of the company’s stock, valued at $15,011,642.07. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,000 shares of company stock worth $1,580,981. Company insiders own 3.60% of the company’s stock.

Liberty Energy Price Performance

Liberty Energy stock opened at $19.37 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. Liberty Energy Inc. has a 52-week low of $16.33 and a 52-week high of $24.75. The firm has a market cap of $3.20 billion, a PE ratio of 7.07, a price-to-earnings-growth ratio of 1.11 and a beta of 1.68. The company’s 50 day moving average is $20.79 and its two-hundred day moving average is $21.48.

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

Liberty Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Friday, September 6th. Liberty Energy’s dividend payout ratio is presently 10.22%.

Analyst Upgrades and Downgrades

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

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.