Envestnet Asset Management Inc. Grows Stock Holdings in Liberty Energy Inc. (NYSE:LBRT)

Envestnet Asset Management Inc. increased its stake in Liberty Energy Inc. (NYSE:LBRT) by 9.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 493,417 shares of the company’s stock after buying an additional 41,154 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Liberty Energy were worth $10,307,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. American Century Companies Inc. lifted its stake in shares of Liberty Energy by 17.6% in the second quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock worth $82,754,000 after acquiring an additional 594,051 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Liberty Energy by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,634,256 shares of the company’s stock valued at $55,030,000 after buying an additional 67,362 shares during the period. Hennessy Advisors Inc. grew its holdings in shares of Liberty Energy by 48.0% during the second quarter. Hennessy Advisors Inc. now owns 1,981,100 shares of the company’s stock valued at $41,385,000 after purchasing an additional 642,700 shares during the last quarter. LSV Asset Management grew its stake in Liberty Energy by 19.5% during the 2nd quarter. LSV Asset Management now owns 1,717,591 shares of the company’s stock worth $35,880,000 after buying an additional 280,550 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Liberty Energy in the 1st quarter worth about $27,809,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

Insider Activity at Liberty Energy

In other Liberty Energy news, CFO Michael Stock sold 5,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $21.01, for a total transaction of $105,050.00. Following the completion of the sale, the chief financial officer now directly owns 745,207 shares of the company’s stock, valued at $15,656,799.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Liberty Energy news, CFO Michael Stock sold 5,000 shares of Liberty Energy stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $21.01, for a total transaction of $105,050.00. Following the transaction, the chief financial officer now directly owns 745,207 shares in the company, valued at approximately $15,656,799.07. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $19.91, for a total transaction of $398,200.00. Following the sale, the chief executive officer now directly owns 2,678,813 shares in the company, valued at $53,335,166.83. The disclosure for this sale can be found here. Insiders sold 100,000 shares of company stock worth $2,084,231 in the last quarter. 3.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Piper Sandler lowered their target price on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. TD Cowen lowered their target price on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. Barclays reduced their price target on shares of Liberty Energy from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Tuesday, July 23rd. Finally, Bank of America lowered their price objective on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.78.

Liberty Energy Stock Performance

Shares of LBRT opened at $18.65 on Friday. 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 firm’s 50 day moving average is $20.63 and its 200-day moving average is $21.41. Liberty Energy Inc. has a 12-month low of $16.33 and a 12-month high of $24.75. The stock has a market capitalization of $3.08 billion, a P/E ratio of 6.81, a P/E/G ratio of 1.24 and a beta of 1.68.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the business posted $0.87 earnings per share. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities research analysts anticipate that Liberty Energy Inc. will post 2.18 EPS for the current fiscal year.

Liberty Energy Announces Dividend

The business also recently announced 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 1.50%. The ex-dividend date of this dividend was Friday, September 6th. Liberty Energy’s dividend payout ratio (DPR) is presently 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.