Canada Pension Plan Investment Board Purchases 75,000 Shares of Liberty Energy Inc. (NYSE:LBRT)

Canada Pension Plan Investment Board grew its stake in Liberty Energy Inc. (NYSE:LBRT - Free Report) by 32.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 308,000 shares of the company's stock after acquiring an additional 75,000 shares during the period. Canada Pension Plan Investment Board owned 0.19% of Liberty Energy worth $6,126,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of LBRT. CIBC Private Wealth Group LLC boosted its holdings in Liberty Energy by 257.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,197 shares of the company's stock worth $47,000 after buying an additional 1,583 shares during the last quarter. Blue Trust Inc. boosted its stake in 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 during the period. Spire Wealth Management bought a new position in Liberty Energy during the 4th quarter worth about $60,000. Smartleaf Asset Management LLC raised its stake in shares of Liberty Energy by 176.3% in the 4th 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 during the period. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Liberty Energy in the fourth quarter valued at about $99,000. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Michael Stock sold 10,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $17.94, for a total transaction of $179,400.00. Following the sale, the chief financial officer now directly owns 717,292 shares of the company's stock, valued at approximately $12,868,218.48. This represents a 1.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.90% of the company's stock.

Liberty Energy Stock Performance

Shares of Liberty Energy stock traded up $0.12 on Thursday, hitting $12.17. The stock had a trading volume of 2,937,767 shares, compared to its average volume of 2,747,106. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 6.51 and a beta of 1.18. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 0.20. Liberty Energy Inc. has a twelve month low of $9.50 and a twelve month high of $24.75. The business's 50 day moving average is $14.37 and its two-hundred day moving average is $17.41.

Liberty Energy (NYSE:LBRT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The firm had revenue of $977.46 million for the quarter, compared to analyst estimates of $960.64 million. Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. During the same period in the prior year, the firm posted $0.48 EPS. Analysts forecast that Liberty Energy Inc. will post 0.58 EPS for the current year.

Liberty Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Friday, June 6th. Liberty Energy's dividend payout ratio is currently 21.19%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. The Goldman Sachs Group decreased their price objective on Liberty Energy from $19.00 to $14.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Royal Bank of Canada downgraded shares of Liberty Energy from an "outperform" rating to a "sector perform" rating and lowered their price objective for the company from $24.00 to $19.00 in a report on Monday, March 24th. Stifel Nicolaus lowered their price target on shares of Liberty Energy from $23.00 to $22.00 and set a "buy" rating on the stock in a research note on Tuesday. Wells Fargo & Company restated an "equal weight" rating and set a $11.00 price objective (down from $20.00) on shares of Liberty Energy in a research note on Tuesday, April 8th. Finally, Morgan Stanley raised Liberty Energy from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $20.00 to $25.00 in a research report on Thursday, March 27th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Liberty Energy currently has an average rating of "Moderate Buy" and an average price target of $18.05.

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.