Citigroup Inc. Grows Position in Liberty Energy Inc. (NYSE:LBRT)

Citigroup Inc. increased its position in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 95.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 224,165 shares of the company's stock after acquiring an additional 109,489 shares during the quarter. Citigroup Inc. owned approximately 0.14% of Liberty Energy worth $4,279,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Andina Capital Management LLC raised its holdings in Liberty Energy by 3.9% in the 2nd quarter. Andina Capital Management LLC now owns 18,599 shares of the company's stock valued at $389,000 after buying an additional 691 shares during the period. Creative Planning increased its stake in Liberty Energy by 3.7% during the third quarter. Creative Planning now owns 19,456 shares of the company's stock worth $371,000 after purchasing an additional 703 shares during the period. GAMMA Investing LLC increased its stake in Liberty Energy by 69.2% during the second quarter. GAMMA Investing LLC now owns 1,743 shares of the company's stock worth $36,000 after purchasing an additional 713 shares during the period. Covestor Ltd increased its stake in Liberty Energy by 96.8% during the third quarter. Covestor Ltd now owns 1,704 shares of the company's stock worth $33,000 after purchasing an additional 838 shares during the period. Finally, nVerses Capital LLC increased its stake 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. Institutional investors and hedge funds own 98.22% of the company's stock.

Insider Activity

In other news, CEO Christopher A. Wright sold 20,000 shares of the company's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $19.91, for a total transaction of $398,200.00. Following the completion of the sale, the chief executive officer now owns 2,678,813 shares in the company, valued at $53,335,166.83. This represents a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Stock sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $21.01, for a total value of $105,050.00. Following the sale, the chief financial officer now owns 745,207 shares of the company's stock, valued at $15,656,799.07. This trade represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,037 shares of company stock valued at $1,796,552. 3.70% of the stock is currently owned by company insiders.

Liberty Energy Stock Down 1.2 %

LBRT traded down $0.22 on Wednesday, reaching $18.34. The company's stock had a trading volume of 1,652,399 shares, compared to its average volume of 2,518,634. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 8.71 and a beta of 1.71. Liberty Energy Inc. has a fifty-two week low of $16.57 and a fifty-two week high of $24.75. The stock has a 50 day moving average of $18.50 and a two-hundred day moving average of $20.27. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17.

Liberty Energy (NYSE:LBRT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.10). The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. Liberty Energy's revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 earnings per share. As a group, analysts forecast that Liberty Energy Inc. will post 1.75 EPS for the current fiscal year.

Liberty Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.08 dividend. This is an increase from Liberty Energy's previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Friday, December 6th. Liberty Energy's dividend payout ratio is presently 13.33%.

Analyst Ratings Changes

LBRT has been the topic of a number of recent research reports. Evercore ISI upgraded shares of Liberty Energy to a "strong-buy" rating in a research note on Thursday, October 17th. Citigroup lowered shares of Liberty Energy from a "buy" rating to a "neutral" rating and cut their target price for the stock from $25.00 to $19.00 in a research note on Friday, October 18th. Barclays cut their target price on shares of Liberty Energy from $26.00 to $24.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 16th. Atb Cap Markets lowered shares of Liberty Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada cut their target price on shares of Liberty Energy from $26.00 to $23.00 and set an "outperform" rating on the stock in a research note on Friday, October 18th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Liberty Energy currently has a consensus rating of "Moderate Buy" and an average target price of $22.89.

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.