New York State Teachers Retirement System Grows Stock Holdings in Liberty Energy Inc. (NYSE:LBRT)

New York State Teachers Retirement System raised its stake in Liberty Energy Inc. (NYSE:LBRT) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,230 shares of the company’s stock after buying an additional 2,289 shares during the period. New York State Teachers Retirement System’s holdings in Liberty Energy were worth $1,646,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in Liberty Energy by 140.3% in the first quarter. BNP Paribas Financial Markets now owns 136,524 shares of the company’s stock valued at $2,829,000 after purchasing an additional 79,709 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Liberty Energy by 5.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,555 shares of the company’s stock valued at $364,000 after acquiring an additional 931 shares during the last quarter. Duality Advisers LP purchased a new position in Liberty Energy during the 1st quarter valued at about $248,000. Envestnet Portfolio Solutions Inc. raised its position in Liberty Energy by 4.0% during 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. Finally, LSV Asset Management lifted its holdings in shares of Liberty Energy by 60.2% in the first quarter. LSV Asset Management now owns 1,437,041 shares of the company’s stock valued at $29,775,000 after purchasing an additional 539,861 shares in the last quarter. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Evercore ISI upgraded Liberty Energy to a “strong-buy” rating in a research report on Thursday, October 17th. TD Cowen cut their price target on Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a report on Friday, July 19th. Wells Fargo & Company decreased their price objective on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Royal Bank of Canada cut their target price on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Finally, Barclays decreased their price target on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.89.

Liberty Energy Trading Down 1.4 %

NYSE LBRT opened at $17.68 on Friday. The company has a 50-day moving average of $19.14 and a 200-day moving average of $20.82. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.97. Liberty Energy Inc. has a 12 month low of $16.57 and a 12 month high of $24.75. The company has a market cap of $2.89 billion, a P/E ratio of 8.42 and a beta of 1.70.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.10). The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. As a group, equities analysts predict that Liberty Energy Inc. will post 1.75 earnings per share for the current year.

Liberty Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.08 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.32 dividend on an annualized basis and a yield of 1.81%. This is a boost from Liberty Energy’s previous quarterly dividend of $0.07. Liberty Energy’s dividend payout ratio (DPR) is presently 13.33%.

Insider Buying and Selling at Liberty Energy

In other news, CFO Michael Stock sold 15,000 shares of Liberty Energy stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $20.01, for a total value of $300,150.00. Following the transaction, the chief financial officer now directly owns 750,207 shares of the company’s stock, valued at $15,011,642.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Michael Stock sold 15,000 shares of Liberty Energy stock in a transaction 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 transaction, the chief financial officer now owns 750,207 shares in the company, valued at approximately $15,011,642.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher A. Wright sold 2,037 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $18.15, for a total transaction of $36,971.55. Following the sale, the chief executive officer now directly owns 2,578,813 shares of the company’s stock, valued at approximately $46,805,455.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,037 shares of company stock valued at $1,911,802. Company insiders own 3.60% of the company’s stock.

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.