Liberty Energy Inc. (NYSE:LBRT) Shares Sold by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. trimmed its holdings in Liberty Energy Inc. (NYSE:LBRT) by 81.8% during the second quarter, HoldingsChannel.com reports. The firm owned 123,691 shares of the company’s stock after selling 554,641 shares during the period. Epoch Investment Partners Inc.’s holdings in Liberty Energy were worth $2,584,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Foundry Partners LLC increased its position in shares of Liberty Energy by 15.6% in the 1st quarter. Foundry Partners LLC now owns 209,056 shares of the company’s stock worth $4,332,000 after purchasing an additional 28,153 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Liberty Energy by 114.2% in the first quarter. Russell Investments Group Ltd. now owns 174,265 shares of the company’s stock valued at $3,611,000 after buying an additional 92,923 shares during the last quarter. Hennessy Advisors Inc. raised its stake in Liberty Energy by 14.1% during the first quarter. Hennessy Advisors Inc. now owns 1,338,400 shares of the company’s stock valued at $27,732,000 after buying an additional 165,400 shares in the last quarter. LSV Asset Management raised its stake in Liberty Energy by 60.2% during the first quarter. LSV Asset Management now owns 1,437,041 shares of the company’s stock valued at $29,775,000 after buying an additional 539,861 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new position in Liberty Energy during the 1st quarter worth approximately $690,000. 98.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LBRT shares. Citigroup upgraded Liberty Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $24.00 to $32.00 in a report on Wednesday, May 29th. Bank of America lowered 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 note on Monday, July 15th. TD Cowen reduced their price target on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday, July 19th. Barclays decreased their price target on shares of Liberty Energy from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. Finally, Piper Sandler dropped 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 note on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Liberty Energy has a consensus rating of “Moderate Buy” and an average target price of $24.78.

Liberty Energy Price Performance

NYSE LBRT opened at $21.10 on Tuesday. The company has a 50-day moving average price of $20.78 and a two-hundred day moving average price of $21.44. Liberty Energy Inc. has a 52 week low of $16.33 and a 52 week high of $24.75. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 7.70, a price-to-earnings-growth ratio of 1.11 and a beta of 1.68. The company has a current ratio of 1.35, a quick ratio of 1.07 and a debt-to-equity ratio of 0.17.

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, topping analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.87 EPS. Analysts forecast that Liberty Energy Inc. will post 2.17 EPS for the current year.

Liberty Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Friday, September 6th. Liberty Energy’s dividend payout ratio (DPR) is 10.22%.

Insider Activity at Liberty Energy

In other Liberty Energy news, CFO Michael Stock sold 4,374 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $21.01, for a total transaction of $91,897.74. Following the transaction, the chief financial officer now owns 785,207 shares of the company’s stock, valued at approximately $16,497,199.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Liberty Energy news, CFO Michael Stock sold 4,374 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $21.01, for a total value of $91,897.74. Following the completion of the sale, the chief financial officer now directly owns 785,207 shares in the company, valued at $16,497,199.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction on Monday, September 16th. The shares were 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. Insiders have sold a total of 100,000 shares of company stock worth $2,084,231 over the last ninety days. 3.60% of the stock is currently owned by corporate insiders.

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.