The Manufacturers Life Insurance Company Has $31.31 Million Position in Liberty Energy Inc. (NYSE:LBRT)

The Manufacturers Life Insurance Company lifted its holdings in Liberty Energy Inc. (NYSE:LBRT) by 34.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,498,921 shares of the company’s stock after buying an additional 381,841 shares during the period. The Manufacturers Life Insurance Company’s holdings in Liberty Energy were worth $31,312,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. EdgeRock Capital LLC purchased a new stake in Liberty Energy in the 2nd quarter worth about $32,000. GAMMA Investing LLC lifted its position in shares of Liberty Energy by 69.2% in the second quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock worth $36,000 after purchasing an additional 713 shares in the last quarter. nVerses Capital LLC boosted its holdings in shares of Liberty Energy by 45.0% during the second quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock worth $61,000 after purchasing an additional 900 shares during the period. PNC Financial Services Group Inc. grew its position in Liberty Energy by 27.7% during the fourth 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. Finally, C M Bidwell & Associates Ltd. acquired a new position in Liberty Energy in the 4th quarter valued at approximately $63,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

Insider Transactions at Liberty Energy

In related news, CFO Michael Stock sold 4,374 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $21.01, for a total transaction of $91,897.74. Following the transaction, the chief financial officer now directly owns 785,207 shares in the company, valued at $16,497,199.07. The sale was disclosed in a 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 that occurred on Monday, September 16th. The stock was sold at an average price of $19.91, for a total value of $398,200.00. Following the sale, the chief executive officer now owns 2,678,813 shares in the company, valued at $53,335,166.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Stock sold 4,374 shares of Liberty Energy stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $21.01, for a total value of $91,897.74. Following the transaction, the chief financial officer now owns 785,207 shares of the company’s stock, valued at $16,497,199.07. The disclosure for this sale can be found here. Insiders have sold a total of 64,374 shares of company stock worth $1,353,698 in the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

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

Liberty Energy Price Performance

Shares of LBRT opened at $19.05 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35. The firm has a market capitalization of $3.17 billion, a PE ratio of 6.95, a P/E/G ratio of 1.24 and a beta of 1.68. The stock has a 50 day simple moving average of $20.58 and a 200 day simple moving average of $21.40. Liberty Energy Inc. has a 52-week low of $16.33 and a 52-week high of $24.75.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $0.61 earnings per share 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 company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the company earned $0.87 EPS. Liberty Energy’s revenue for the quarter was down 2.9% compared to the same quarter last year. Sell-side analysts predict that Liberty Energy Inc. will post 2.18 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Friday, September 6th. Liberty Energy’s dividend payout ratio (DPR) is 10.22%.

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.