Oregon Public Employees Retirement Fund Sells 3,759 Shares of Liberty Energy Inc. (NYSE:LBRT)

Oregon Public Employees Retirement Fund lowered its stake in Liberty Energy Inc. (NYSE:LBRT) by 9.3% in the 2nd quarter, Holdings Channel reports. The firm owned 36,843 shares of the company’s stock after selling 3,759 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Liberty Energy were worth $770,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Lord Abbett & CO. LLC bought a new position in shares of Liberty Energy in the first quarter valued at approximately $27,809,000. Hennessy Advisors Inc. bought a new position in Liberty Energy in the 4th quarter valued at $21,278,000. Norges Bank purchased a new position in shares of Liberty Energy during the 4th quarter valued at $13,877,000. LSV Asset Management increased 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 worth $29,775,000 after purchasing an additional 539,861 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Liberty Energy by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,443,849 shares of the company’s stock worth $171,314,000 after purchasing an additional 404,211 shares during the period. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Liberty Energy Stock Down 2.9 %

Shares of LBRT opened at $18.81 on Wednesday. Liberty Energy Inc. has a 1 year low of $16.33 and a 1 year high of $24.75. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 1.07. The stock has a 50 day simple moving average of $20.89 and a two-hundred day simple moving average of $21.53. The firm has a market cap of $3.11 billion, a P/E ratio of 6.86, a P/E/G ratio of 1.13 and a beta of 1.69.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the company earned $0.87 EPS. The firm’s revenue was down 2.9% on a year-over-year basis. On average, analysts forecast that Liberty Energy Inc. will post 2.17 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, September 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.49%. Liberty Energy’s dividend payout ratio (DPR) is currently 10.22%.

Insider Transactions at Liberty Energy

In related news, CFO Michael Stock sold 15,626 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $20.82, for a total transaction of $325,333.32. Following the transaction, the chief financial officer now directly owns 789,581 shares in the company, valued at approximately $16,439,076.42. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $20.26, for a total transaction of $405,200.00. Following the transaction, the chief executive officer now owns 2,758,813 shares in the company, valued at approximately $55,893,551.38. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michael Stock sold 15,626 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $20.82, for a total value of $325,333.32. Following the completion of the sale, the chief financial officer now owns 789,581 shares of the company’s stock, valued at approximately $16,439,076.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,000 shares of company stock worth $1,580,981. Company insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

LBRT has been the subject of several research analyst reports. Citigroup raised Liberty Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $24.00 to $32.00 in a research note on Wednesday, May 29th. Bank of America dropped their price target on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Piper Sandler decreased their price objective on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Barclays lowered their target price on shares of Liberty Energy from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Finally, TD Cowen cut their price target on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Friday, July 19th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.78.

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.