Liberty Energy Inc. (NYSE:LBRT) Shares Purchased by Fmr LLC

Fmr LLC boosted its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 17.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 18,115,282 shares of the company’s stock after acquiring an additional 2,640,119 shares during the period. Fmr LLC owned approximately 0.11% of Liberty Energy worth $345,821,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its stake in shares of Liberty Energy by 11.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,666,741 shares of the company’s stock valued at $31,818,000 after purchasing an additional 167,820 shares in the last quarter. Horizon Kinetics Asset Management LLC increased its position in shares of Liberty Energy by 10.4% in the third quarter. Horizon Kinetics Asset Management LLC now owns 260,607 shares of the company’s stock valued at $4,975,000 after buying an additional 24,604 shares in the last quarter. Citigroup Inc. raised its stake in shares of Liberty Energy by 95.5% during the 3rd quarter. Citigroup Inc. now owns 224,165 shares of the company’s stock worth $4,279,000 after buying an additional 109,489 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Liberty Energy by 8.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,237,247 shares of the company’s stock valued at $42,709,000 after buying an additional 166,443 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in Liberty Energy by 15.9% in the 3rd quarter. Pacer Advisors Inc. now owns 7,012,382 shares of the company’s stock valued at $133,866,000 after acquiring an additional 963,068 shares during the period. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on LBRT shares. Barclays reduced their target price on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Wells Fargo & Company dropped their target price on shares of Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Atb Cap Markets downgraded shares of Liberty Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Evercore ISI raised shares of Liberty Energy to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Stifel Nicolaus lowered their target price on Liberty Energy from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.89.

Liberty Energy Stock Down 0.2 %

LBRT stock opened at $18.40 on Friday. The firm has a market cap of $3.01 billion, a PE ratio of 8.76 and a beta of 1.70. Liberty Energy Inc. has a one year low of $16.57 and a one year high of $24.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 1.23. The firm’s 50 day moving average price is $18.60 and its 200-day moving average price is $20.36.

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

Liberty Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.74%. This is a boost from Liberty Energy’s previous quarterly dividend of $0.07. Liberty Energy’s dividend payout ratio (DPR) is presently 13.33%.

Insider Activity at Liberty Energy

In other Liberty Energy news, CEO Christopher A. Wright sold 2,037 shares of Liberty Energy stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $18.15, for a total value of $36,971.55. Following the completion of the transaction, the chief executive officer now directly owns 2,578,813 shares of the company’s stock, valued at $46,805,455.95. The trade was a 0.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michael Stock sold 5,000 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $21.01, for a total transaction of $105,050.00. Following the sale, the chief financial officer now directly owns 745,207 shares in the company, valued at $15,656,799.07. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,037 shares of company stock worth $1,911,802. Insiders own 3.60% of the company’s stock.

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.