Perigon Wealth Management LLC Reduces Position in Liberty Energy Inc. (NYSE:LBRT)

Perigon Wealth Management LLC trimmed its holdings in Liberty Energy Inc. (NYSE:LBRT) by 21.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 10,196 shares of the company’s stock after selling 2,862 shares during the period. Perigon Wealth Management LLC’s holdings in Liberty Energy were worth $203,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Empowered Funds LLC raised its holdings in Liberty Energy by 45.1% in the 3rd quarter. Empowered Funds LLC now owns 495,578 shares of the company’s stock valued at $9,461,000 after acquiring an additional 154,070 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Liberty Energy by 61.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,146,179 shares of the company’s stock valued at $60,061,000 after buying an additional 1,193,918 shares during the period. Principal Financial Group Inc. boosted its position in Liberty Energy by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 872,215 shares of the company’s stock valued at $16,651,000 after buying an additional 37,927 shares during the period. Quest Partners LLC raised its holdings in shares of Liberty Energy by 168.2% in the 3rd quarter. Quest Partners LLC now owns 62,979 shares of the company’s stock valued at $1,202,000 after purchasing an additional 39,497 shares in the last quarter. Finally, Impala Asset Management LLC raised its holdings in shares of Liberty Energy by 89.2% in the 3rd quarter. Impala Asset Management LLC now owns 350,000 shares of the company’s stock valued at $6,682,000 after purchasing an additional 165,000 shares in the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.

Liberty Energy Price Performance

Shares of LBRT stock opened at $18.02 on Tuesday. The firm has a market cap of $2.94 billion, a P/E ratio of 9.64 and a beta of 1.66. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.27 and a quick ratio of 0.97. Liberty Energy Inc. has a 1-year low of $16.57 and a 1-year high of $24.75. The firm has a fifty day moving average of $19.82 and a two-hundred day moving average of $19.71.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. As a group, research analysts anticipate that Liberty Energy Inc. will post 0.9 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $0.32 annualized dividend and a yield of 1.78%. Liberty Energy’s dividend payout ratio is presently 17.11%.

Insider Activity at Liberty Energy

In other news, CEO Christopher A. Wright sold 2,037 shares of Liberty Energy stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $18.15, for a total value of $36,971.55. Following the transaction, the chief executive officer now owns 2,578,813 shares of the company’s stock, valued at $46,805,455.95. The trade was a 0.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Michael Stock sold 10,000 shares of Liberty Energy stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $18.49, for a total transaction of $184,900.00. Following the completion of the transaction, the chief financial officer now directly owns 705,207 shares in the company, valued at approximately $13,039,277.43. This trade represents a 1.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,973 shares of company stock worth $1,291,005 in the last ninety days. 3.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LBRT shares. Seaport Res Ptn upgraded shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Sunday, January 5th. Citigroup upped their target price on shares of Liberty Energy from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Barclays lowered 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 report on Wednesday, October 16th. Evercore ISI raised shares of Liberty Energy to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, TD Cowen cut their price target on shares of Liberty Energy from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. 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. Based on data from MarketBeat.com, Liberty Energy presently has an average rating of “Moderate Buy” and a consensus target price of $22.30.

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.