Glenmede Trust Co. NA Cuts Stake in Liberty Energy Inc. (NYSE:LBRT)

Glenmede Trust Co. NA lessened its stake in shares of Liberty Energy Inc. (NYSE:LBRT) by 1.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 868,169 shares of the company’s stock after selling 10,948 shares during the quarter. Glenmede Trust Co. NA’s holdings in Liberty Energy were worth $16,573,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. EdgeRock Capital LLC bought a new stake in shares of Liberty Energy in the second quarter valued at $32,000. Covestor Ltd raised its stake in Liberty Energy by 96.8% in the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company’s stock valued at $33,000 after acquiring an additional 838 shares during the period. GAMMA Investing LLC lifted its holdings in Liberty Energy by 69.2% during the second quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock valued at $36,000 after purchasing an additional 713 shares during the last quarter. nVerses Capital LLC boosted its position in Liberty Energy by 45.0% during the second quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock worth $61,000 after purchasing an additional 900 shares during the period. Finally, US Bancorp DE increased its stake in shares of Liberty Energy by 93.2% in the third quarter. US Bancorp DE now owns 4,180 shares of the company’s stock worth $80,000 after purchasing an additional 2,016 shares in the last quarter. Institutional investors own 98.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LBRT shares. Barclays lowered their target price on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Wells Fargo & Company reduced their target price on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Evercore ISI upgraded Liberty Energy to a “strong-buy” rating in a research report on Thursday, October 17th. Atb Cap Markets lowered shares of Liberty Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada decreased their target price on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.89.

Liberty Energy Trading Up 0.2 %

Shares of LBRT opened at $18.44 on Friday. The stock has a market capitalization of $3.01 billion, a P/E ratio of 8.78 and a beta of 1.70. Liberty Energy Inc. has a twelve month low of $16.57 and a twelve month high of $24.75. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. The firm has a fifty day simple moving average of $18.70 and a two-hundred day simple moving average of $20.42.

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

Liberty Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.08 dividend. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Friday, December 6th. Liberty Energy’s dividend payout ratio (DPR) is currently 15.24%.

Insider Activity

In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $19.77, for a total value of $395,400.00. Following the completion of the sale, the chief executive officer now directly owns 2,638,813 shares in the company, valued at $52,169,333.01. This trade represents a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $105,050.00. Following the sale, the chief financial officer now directly owns 745,207 shares in the company, valued at approximately $15,656,799.07. The trade was a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,037 shares of company stock valued at $1,911,802. Company insiders own 3.60% of the company’s stock.

About Liberty Energy

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.