Symmetry Investments LP Invests $1.07 Million in Liberty Energy Inc. (NYSE:LBRT)

Symmetry Investments LP acquired a new position in shares of Liberty Energy Inc. (NYSE:LBRT) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 51,400 shares of the company’s stock, valued at approximately $1,074,000.

Other large investors have also modified their holdings of the company. Foundry Partners LLC lifted its holdings in shares of Liberty Energy by 15.6% during the 1st quarter. Foundry Partners LLC now owns 209,056 shares of the company’s stock worth $4,332,000 after acquiring an additional 28,153 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Liberty Energy by 114.2% during the 1st quarter. Russell Investments Group Ltd. now owns 174,265 shares of the company’s stock worth $3,611,000 after acquiring an additional 92,923 shares during the period. Hennessy Advisors Inc. lifted its holdings in shares of Liberty Energy by 14.1% during the 1st quarter. Hennessy Advisors Inc. now owns 1,338,400 shares of the company’s stock worth $27,732,000 after acquiring an additional 165,400 shares during the period. LSV Asset Management lifted its holdings in shares of Liberty Energy by 60.2% during the 1st quarter. LSV Asset Management now owns 1,437,041 shares of the company’s stock worth $29,775,000 after acquiring an additional 539,861 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in Liberty Energy during the 1st quarter worth approximately $690,000. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Liberty Energy

In other news, CFO Michael Stock sold 15,626 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $20.82, for a total transaction 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 $16,439,076.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Michael Stock sold 15,626 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $20.82, for a total transaction 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 $16,439,076.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $19.91, for a total value of $398,200.00. Following the transaction, the chief executive officer now owns 2,678,813 shares in the company, valued at $53,335,166.83. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,000 shares of company stock valued at $2,084,231. 3.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Liberty Energy Stock Down 0.7 %

Shares of NYSE:LBRT opened at $20.94 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. Liberty Energy Inc. has a 52-week low of $16.33 and a 52-week high of $24.75. The company has a 50 day moving average of $20.79 and a two-hundred day moving average of $21.45. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 7.64, a price-to-earnings-growth ratio of 1.11 and a beta of 1.69.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $1.16 billion. During the same quarter last year, the company earned $0.87 earnings per share. Liberty Energy’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, 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 declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Friday, September 6th. Liberty Energy’s payout ratio is currently 10.22%.

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.