Exchange Traded Concepts LLC Raises Stock Holdings in Liberty Energy Inc. (NYSE:LBRT)

Exchange Traded Concepts LLC grew its holdings in Liberty Energy Inc. (NYSE:LBRT) by 2,958.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,242 shares of the company’s stock after buying an additional 51,501 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Liberty Energy were worth $1,016,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. EdgeRock Capital LLC acquired a new stake in Liberty Energy in the 2nd quarter valued at $32,000. GAMMA Investing LLC lifted its holdings in Liberty Energy by 69.2% during the second quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock valued at $36,000 after purchasing an additional 713 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Liberty Energy by 27.7% in 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 during the period. nVerses Capital LLC increased its stake 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 in the last quarter. Finally, CWM LLC raised its position in shares of Liberty Energy by 43.3% during the 2nd 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 last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on LBRT. TD Cowen lowered their price objective on Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Friday, July 19th. Piper Sandler lowered their price target on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Citigroup reduced their price objective on Liberty Energy from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Stifel Nicolaus decreased their price objective on Liberty Energy from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Finally, Barclays dropped their target price on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Liberty Energy Stock Up 1.3 %

NYSE LBRT opened at $20.06 on Thursday. The business’s fifty day simple moving average is $20.13 and its 200-day simple moving average is $21.37. 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 firm has a market cap of $3.34 billion, a PE ratio of 7.32, a P/E/G ratio of 1.20 and a beta of 1.68. Liberty Energy Inc. has a 52 week low of $16.69 and a 52 week high of $24.75.

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

Liberty Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Friday, December 6th. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07. Liberty Energy’s payout ratio is presently 10.22%.

Insider Activity at Liberty Energy

In related news, CFO Michael Stock sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 in the company, valued at approximately $15,011,642.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Liberty Energy news, CFO Michael Stock sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $20.01, for a total value of $300,150.00. Following the transaction, the chief financial officer now owns 750,207 shares of the company’s stock, valued at $15,011,642.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $19.91, for a total transaction of $398,200.00. Following the sale, the chief executive officer now owns 2,678,813 shares of the company’s stock, valued at approximately $53,335,166.83. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,000 shares of company stock worth $1,945,650. Insiders own 3.60% of the company’s stock.

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.