Fmr LLC Grows Stock Position in Liberty Energy Inc. (NYSE:LBRT)

FMR LLC grew its stake in Liberty Energy Inc. (NYSE:LBRT - Free Report) by 17.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,115,282 shares of the company's stock after buying an additional 2,640,119 shares during the period. FMR LLC owned 11.09% of Liberty Energy worth $345,821,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. EdgeRock Capital LLC acquired a new position in Liberty Energy in the second quarter valued at $32,000. Covestor Ltd lifted its stake in shares of Liberty Energy by 96.8% in the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company's stock valued at $33,000 after purchasing an additional 838 shares during the period. GAMMA Investing LLC lifted its stake in shares of Liberty Energy by 69.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,743 shares of the company's stock valued at $36,000 after purchasing an additional 713 shares during the period. nVerses Capital LLC boosted its position in shares of Liberty Energy by 45.0% during the 2nd quarter. nVerses Capital LLC now owns 2,900 shares of the company's stock valued at $61,000 after purchasing an additional 900 shares in the last quarter. Finally, US Bancorp DE grew its stake in Liberty Energy by 93.2% during the third quarter. US Bancorp DE now owns 4,180 shares of the company's stock worth $80,000 after purchasing an additional 2,016 shares during the period. 98.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LBRT. Atb Cap Markets lowered Liberty Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 17th. 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. Barclays decreased their price target on shares of Liberty Energy from $26.00 to $24.00 and set an "overweight" rating for the company in a research note on Wednesday, October 16th. Evercore ISI raised shares of Liberty Energy to a "strong-buy" rating in a research report on Thursday, October 17th. Finally, Stifel Nicolaus decreased their target price on Liberty Energy from $26.00 to $25.00 and set a "buy" rating for the company in a research report on Friday, October 18th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $22.89.

Liberty Energy Stock Down 0.2 %

LBRT stock traded down $0.04 during mid-day trading on Friday, reaching $18.40. 909,675 shares of the company traded hands, compared to its average volume of 2,667,574. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. The firm's 50 day moving average price is $18.60 and its 200 day moving average price is $20.34. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 8.76 and a beta of 1.70. Liberty Energy Inc. has a fifty-two week low of $16.57 and a fifty-two week high of $24.75.

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

Liberty Energy Increases Dividend

The company also recently announced 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. The ex-dividend date is Friday, December 6th. This represents a $0.32 annualized dividend and a dividend yield of 1.74%. This is an increase from Liberty Energy's previous quarterly dividend of $0.07. Liberty Energy's dividend payout ratio is currently 13.33%.

Insider Activity at Liberty Energy

In related news, CEO Christopher A. Wright sold 2,037 shares of Liberty Energy stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $18.15, for a total transaction of $36,971.55. Following the sale, the chief executive officer now directly owns 2,578,813 shares in the company, valued at approximately $46,805,455.95. This trade represents a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael Stock sold 15,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $20.01, for a total value of $300,150.00. Following the completion of the transaction, the chief financial officer now owns 750,207 shares of the company's stock, valued at $15,011,642.07. This trade represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 99,037 shares of company stock valued at $1,911,802 over the last ninety days. Corporate insiders own 3.60% of the company's stock.

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.