KLP Kapitalforvaltning AS Makes New Investment in Liberty Energy Inc. (NYSE:LBRT)

KLP Kapitalforvaltning AS bought a new position in Liberty Energy Inc. (NYSE:LBRT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 49,200 shares of the company's stock, valued at approximately $979,000.

A number of other institutional investors have also recently modified their holdings of LBRT. Quarry LP increased its position in shares of Liberty Energy by 237.5% during the third quarter. Quarry LP now owns 1,991 shares of the company's stock valued at $38,000 after acquiring an additional 1,401 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Liberty Energy by 604.9% in the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the company's stock worth $47,000 after purchasing an additional 2,111 shares in the last quarter. Spire Wealth Management purchased a new position in shares of Liberty Energy in the fourth quarter worth $60,000. Smartleaf Asset Management LLC lifted its holdings in shares of Liberty Energy by 176.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,423 shares of the company's stock valued at $67,000 after purchasing an additional 2,184 shares in the last quarter. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Liberty Energy during the fourth quarter valued at $99,000. 98.22% of the stock is owned by hedge funds and other institutional investors.

Liberty Energy Stock Performance

Shares of NYSE:LBRT traded down $2.94 during mid-day trading on Thursday, reaching $13.14. 5,647,371 shares of the company traded hands, compared to its average volume of 2,638,156. The company's 50 day moving average price is $16.69 and its 200-day moving average price is $18.38. The firm has a market cap of $2.13 billion, a PE ratio of 7.02 and a beta of 1.18. Liberty Energy Inc. has a 52 week low of $12.98 and a 52 week high of $24.75. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.27 and a quick ratio of 0.97.

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Liberty Energy (NYSE:LBRT - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.06). Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. On average, equities analysts expect that Liberty Energy Inc. will post 0.58 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were given a $0.08 dividend. The ex-dividend date was Thursday, March 6th. This represents a $0.32 annualized dividend and a dividend yield of 2.44%. Liberty Energy's payout ratio is 17.11%.

Insider Transactions at Liberty Energy

In related news, CFO Michael Stock sold 10,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $17.94, for a total value of $179,400.00. Following the transaction, the chief financial officer now directly owns 717,292 shares of the company's stock, valued at approximately $12,868,218.48. The trade was a 1.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Stifel Nicolaus upped their target price on shares of Liberty Energy from $23.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Wells Fargo & Company dropped their target price on shares of Liberty Energy from $24.00 to $22.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Morgan Stanley upgraded shares of Liberty Energy from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $20.00 to $25.00 in a research note on Thursday, March 27th. TD Cowen dropped their price target on Liberty Energy from $18.00 to $16.00 and set a "hold" rating on the stock in a research note on Wednesday, January 8th. Finally, Citigroup upped their price objective on Liberty Energy from $19.00 to $22.00 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Liberty Energy has a consensus rating of "Moderate Buy" and an average price target of $21.90.

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.