Harbour Capital Advisors LLC Makes New Investment in Liberty Energy Inc. (NYSE:LBRT)

Harbour Capital Advisors LLC acquired a new position in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 23,835 shares of the company's stock, valued at approximately $498,000.

A number of other hedge funds have also recently modified their holdings of LBRT. Cooper Financial Group acquired a new stake in Liberty Energy in the 4th quarter valued at approximately $209,000. Harbor Capital Advisors Inc. boosted its stake in Liberty Energy by 0.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 82,223 shares of the company's stock worth $1,635,000 after purchasing an additional 708 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Liberty Energy by 61.2% during the third quarter. JPMorgan Chase & Co. now owns 3,146,179 shares of the company's stock worth $60,061,000 after buying an additional 1,193,918 shares during the last quarter. Principal Financial Group Inc. increased its stake in Liberty Energy by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 872,215 shares of the company's stock valued at $16,651,000 after buying an additional 37,927 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of Liberty Energy by 2.4% during the third quarter. Franklin Resources Inc. now owns 2,631,360 shares of the company's stock worth $53,706,000 after acquiring an additional 61,909 shares during the period. Hedge funds and other institutional investors own 98.22% of the company's stock.

Liberty Energy Stock Up 1.9 %

Shares of NYSE:LBRT traded up $0.39 during trading on Tuesday, hitting $21.44. The company's stock had a trading volume of 2,230,673 shares, compared to its average volume of 2,917,020. The company has a market capitalization of $3.50 billion, a PE ratio of 10.21 and a beta of 1.66. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 1.23. The stock's 50-day moving average price is $18.82 and its two-hundred day moving average price is $19.68. 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 posted its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 EPS for the quarter, missing analysts' consensus estimates 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 return on equity of 18.50% and a net margin of 8.02%. The firm's revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter last year, the business posted $0.85 earnings per share. As a group, sell-side analysts expect that Liberty Energy Inc. will post 1.72 EPS for the current year.

Insider Activity

In other Liberty Energy news, CEO Christopher A. Wright sold 12,000 shares of the firm's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.44, for a total transaction of $209,280.00. Following the transaction, the chief executive officer now owns 2,606,813 shares of the company's stock, valued at approximately $45,462,818.72. This trade represents a 0.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Stock sold 20,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $20.82, for a total transaction of $416,400.00. Following the completion of the transaction, the chief financial officer now owns 680,207 shares of the company's stock, valued at $14,161,909.74. This trade represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 77,973 shares of company stock valued at $1,471,335. Company insiders own 3.60% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LBRT shares. Citigroup increased their price objective on Liberty Energy from $19.00 to $22.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 7th. Evercore ISI upgraded Liberty Energy to a "strong-buy" rating in a report on Thursday, October 17th. Wells Fargo & Company reduced their price target on Liberty Energy from $25.00 to $24.00 and set an "overweight" rating on the stock in a research note on Friday, October 18th. TD Cowen decreased their target price on shares of Liberty Energy from $18.00 to $16.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. Finally, Seaport Res Ptn raised Liberty Energy from a "hold" rating to a "strong-buy" rating in a research report on Sunday, January 5th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.20.

Liberty Energy Company 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.