GAMMA Investing LLC Sells 1,870 Shares of Liberty Energy Inc. (NYSE:LBRT)

GAMMA Investing LLC lessened its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 58.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,304 shares of the company’s stock after selling 1,870 shares during the quarter. GAMMA Investing LLC’s holdings in Liberty Energy were worth $26,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd lifted its stake in shares of Liberty Energy by 96.8% in the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company’s stock valued at $33,000 after purchasing an additional 838 shares during the period. Quarry LP increased its holdings in Liberty Energy by 237.5% in the third quarter. Quarry LP now owns 1,991 shares of the company’s stock worth $38,000 after purchasing an additional 1,401 shares in the last quarter. US Bancorp DE increased its holdings in Liberty Energy by 93.2% in the third quarter. US Bancorp DE now owns 4,180 shares of the company’s stock worth $80,000 after purchasing an additional 2,016 shares in the last quarter. KBC Group NV lifted its stake in Liberty Energy by 24.8% in the third quarter. KBC Group NV now owns 4,906 shares of the company’s stock valued at $94,000 after buying an additional 974 shares during the period. Finally, CWM LLC boosted its holdings in shares of Liberty Energy by 56.5% during the 3rd quarter. CWM LLC now owns 9,722 shares of the company’s stock worth $186,000 after buying an additional 3,509 shares in the last quarter. Institutional investors own 98.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LBRT. Citigroup lifted their price objective on shares of Liberty Energy from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. TD Cowen decreased their price target on shares of Liberty Energy from $18.00 to $16.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company cut their price objective on shares of Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Royal Bank of Canada decreased their target price on Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Finally, Barclays cut their price target on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.20.

Insiders Place Their Bets

In related news, CEO Christopher A. Wright sold 2,037 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $18.15, for a total transaction of $36,971.55. Following the completion of the transaction, the chief executive officer now owns 2,578,813 shares of the company’s stock, valued at approximately $46,805,455.95. The trade was a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Stock sold 20,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $20.82, for a total transaction of $416,400.00. Following the completion of the sale, the chief financial officer now owns 680,207 shares in the company, valued at $14,161,909.74. This represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 77,973 shares of company stock worth $1,471,335 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Liberty Energy Price Performance

NYSE LBRT opened at $22.73 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. The company has a market cap of $3.71 billion, a PE ratio of 10.82 and a beta of 1.66. Liberty Energy Inc. has a 52 week low of $16.57 and a 52 week high of $24.75. The firm’s 50-day simple moving average is $18.98 and its two-hundred day simple moving average is $19.70.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.10). Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the business posted $0.85 earnings per share. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. Research analysts predict that Liberty Energy Inc. will post 1.72 earnings per share for the current year.

About Liberty Energy

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.