Creative Planning Buys 4,169 Shares of Liberty Energy Inc. (NYSE:LBRT)

Creative Planning boosted its position in Liberty Energy Inc. (NYSE:LBRT) by 28.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 18,753 shares of the company’s stock after purchasing an additional 4,169 shares during the period. Creative Planning’s holdings in Liberty Energy were worth $392,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of LBRT. EdgeRock Capital LLC acquired a new stake in Liberty Energy during the second quarter worth approximately $32,000. GAMMA Investing LLC grew its stake in shares of Liberty Energy by 69.2% during the second quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock worth $36,000 after buying an additional 713 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Liberty Energy by 27.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock worth $59,000 after purchasing an additional 709 shares during the period. nVerses Capital LLC lifted 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. Finally, CWM LLC lifted its holdings in shares of Liberty Energy by 43.3% during the second quarter. CWM LLC now owns 6,213 shares of the company’s stock worth $130,000 after purchasing an additional 1,876 shares during the period. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Liberty Energy Price Performance

Shares of Liberty Energy stock opened at $20.06 on Thursday. The firm has a market cap of $3.34 billion, a PE ratio of 7.32, a price-to-earnings-growth ratio of 1.20 and a beta of 1.68. Liberty Energy Inc. has a 12-month low of $16.69 and a 12-month high of $24.75. The company has a quick ratio of 1.07, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. The company’s fifty day simple moving average is $20.13 and its two-hundred day simple moving average is $21.37.

Liberty Energy (NYSE:LBRT) last posted its earnings results on Wednesday, July 17th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the company posted $0.87 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, equities analysts expect that Liberty Energy Inc. will post 2.14 EPS for the current year.

Liberty Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.08 per share. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Friday, December 6th. Liberty Energy’s dividend payout ratio (DPR) is currently 10.22%.

Analyst Upgrades and Downgrades

LBRT has been the topic of several recent analyst reports. Citigroup dropped their target price on shares of Liberty Energy from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Bank of America dropped their target price on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. TD Cowen dropped their price target on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. Stifel Nicolaus lowered their target price on shares of Liberty Energy from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Finally, Piper Sandler decreased their price target on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Insider Buying and Selling at Liberty Energy

In other news, CFO Michael Stock sold 20,000 shares of Liberty Energy stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $22.92, for a total value of $458,400.00. Following the completion of the sale, the chief financial officer now directly owns 765,207 shares in the company, valued at $17,538,544.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 95,000 shares of company stock worth $1,945,650. 3.60% of the stock is owned by corporate insiders.

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.