Liberty Energy Inc. (NYSE:LBRT) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lowered its holdings in Liberty Energy Inc. (NYSE:LBRT) by 75.6% in the third quarter, HoldingsChannel reports. The firm owned 15,995 shares of the company’s stock after selling 49,453 shares during the quarter. QRG Capital Management Inc.’s holdings in Liberty Energy were worth $305,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. raised its position in Liberty Energy by 4.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 14,262 shares of the company’s stock valued at $296,000 after purchasing an additional 543 shares in the last quarter. Andina Capital Management LLC increased its stake in shares of Liberty Energy by 3.9% during the second quarter. Andina Capital Management LLC now owns 18,599 shares of the company’s stock worth $389,000 after buying an additional 691 shares during the period. Creative Planning raised its holdings in Liberty Energy by 3.7% in the third quarter. Creative Planning now owns 19,456 shares of the company’s stock valued at $371,000 after acquiring an additional 703 shares in the last quarter. GAMMA Investing LLC lifted its stake in Liberty Energy by 69.2% in the second quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock worth $36,000 after acquiring an additional 713 shares during the last quarter. Finally, nVerses Capital LLC grew its holdings in Liberty Energy by 45.0% during the 2nd quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock worth $61,000 after acquiring an additional 900 shares in the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.

Liberty Energy Trading Up 2.2 %

LBRT opened at $18.07 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. Liberty Energy Inc. has a 52 week low of $16.57 and a 52 week high of $24.75. The business’s 50 day moving average is $19.09 and its two-hundred day moving average is $20.76. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 8.60 and a beta of 1.70.

Liberty Energy (NYSE:LBRT) last announced its earnings results on Wednesday, October 16th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The business’s revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 earnings per share. On average, research analysts predict that Liberty Energy Inc. will post 1.75 EPS for the current year.

Liberty Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.77%. This is a boost from Liberty Energy’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, December 6th. Liberty Energy’s dividend payout ratio is presently 13.33%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Atb Cap Markets downgraded Liberty Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Barclays dropped their price objective on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Bank of America decreased their target price on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Finally, Wells Fargo & Company dropped their price target on shares of Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.89.

Insider Transactions at Liberty Energy

In related news, CFO Michael Stock sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $20.01, for a total value of $300,150.00. Following the transaction, the chief financial officer now owns 750,207 shares in the company, valued at $15,011,642.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Liberty Energy news, CEO Christopher A. Wright sold 2,037 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $18.15, for a total transaction of $36,971.55. Following the completion of the transaction, the chief executive officer now owns 2,578,813 shares in the company, valued at approximately $46,805,455.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Stock sold 15,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $20.01, for a total transaction of $300,150.00. Following the completion of the sale, the chief financial officer now owns 750,207 shares of the company’s stock, valued at $15,011,642.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,037 shares of company stock worth $1,911,802. Company insiders own 3.60% of the company’s stock.

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.