Bank of New York Mellon Corp trimmed its position in Liberty Energy Inc. (NYSE:LBRT - Free Report) by 10.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,182,287 shares of the company's stock after selling 257,861 shares during the period. Bank of New York Mellon Corp owned 1.34% of Liberty Energy worth $43,406,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of LBRT. FMR LLC lifted its stake in shares of Liberty Energy by 17.1% in the 3rd quarter. FMR LLC now owns 18,115,282 shares of the company's stock valued at $345,821,000 after acquiring an additional 2,640,119 shares during the last quarter. JPMorgan Chase & Co. raised its position in Liberty Energy by 61.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,146,179 shares of the company's stock worth $60,061,000 after purchasing an additional 1,193,918 shares during the last quarter. Pacer Advisors Inc. raised its position in Liberty Energy by 15.9% during the 3rd quarter. Pacer Advisors Inc. now owns 7,012,382 shares of the company's stock worth $133,866,000 after purchasing an additional 963,068 shares during the last quarter. Bridgewater Associates LP raised its position in Liberty Energy by 285.1% during the 3rd quarter. Bridgewater Associates LP now owns 700,814 shares of the company's stock worth $13,379,000 after purchasing an additional 518,830 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Liberty Energy by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,779,906 shares of the company's stock worth $72,173,000 after purchasing an additional 207,527 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
LBRT has been the subject of several analyst reports. The Goldman Sachs Group initiated coverage on Liberty Energy in a research report on Friday, December 13th. They set a "neutral" rating and a $19.00 target price for the company. TD Cowen lowered their target price on Liberty Energy from $18.00 to $16.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. Stifel Nicolaus lifted their price objective on Liberty Energy from $23.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Seaport Res Ptn raised Liberty Energy from a "hold" rating to a "strong-buy" rating in a research report on Sunday, January 5th. Finally, Royal Bank of Canada lowered their price objective on Liberty Energy from $26.00 to $24.00 and set an "outperform" rating for the company in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Liberty Energy has an average rating of "Moderate Buy" and a consensus target price of $22.30.
Read Our Latest Analysis on LBRT
Liberty Energy Stock Down 0.1 %
Shares of LBRT traded down $0.01 during trading hours on Friday, hitting $15.19. The stock had a trading volume of 3,092,130 shares, compared to its average volume of 3,314,035. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.27 and a quick ratio of 0.97. The firm has a 50 day simple moving average of $19.20 and a 200-day simple moving average of $19.03. The firm has a market capitalization of $2.46 billion, a P/E ratio of 8.12 and a beta of 1.58. Liberty Energy Inc. has a 1-year low of $14.86 and a 1-year high of $24.75.
Liberty Energy (NYSE:LBRT - Get Free Report) last issued its earnings results on Wednesday, January 29th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.06). Liberty Energy had a net margin of 7.32% and a return on equity of 14.28%. Sell-side analysts predict that Liberty Energy Inc. will post 0.58 EPS for the current fiscal year.
Liberty Energy Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $0.32 dividend on an annualized basis and a yield of 2.11%. Liberty Energy's dividend payout ratio (DPR) is currently 17.11%.
Insider Buying and Selling at Liberty Energy
In other Liberty Energy news, CEO Christopher A. Wright sold 2,936 shares of Liberty Energy stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $19.16, for a total transaction of $56,253.76. Following the completion of the transaction, the chief executive officer now owns 2,543,877 shares in the company, valued at approximately $48,740,683.32. The trade was a 0.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Stock sold 10,000 shares of Liberty Energy stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $17.94, for a total value of $179,400.00. Following the transaction, the chief financial officer now owns 717,292 shares of the company's stock, valued at $12,868,218.48. This trade represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,936 shares of company stock worth $864,604. Insiders own 3.70% of the company's stock.
About Liberty Energy
(
Free Report)
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.
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