Intech Investment Management LLC Takes $904,000 Position in Liberty Energy Inc. (NYSE:LBRT)

Intech Investment Management LLC bought a new stake in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 47,355 shares of the company's stock, valued at approximately $904,000.

Several other institutional investors have also added to or reduced their stakes in the business. Segall Bryant & Hamill LLC purchased a new position in shares of Liberty Energy during the 3rd quarter valued at about $1,214,000. Prospera Financial Services Inc boosted its position in shares of Liberty Energy by 7.3% in the third quarter. Prospera Financial Services Inc now owns 16,047 shares of the company's stock worth $306,000 after purchasing an additional 1,091 shares during the period. Quest Partners LLC increased its stake in shares of Liberty Energy by 168.2% in the third quarter. Quest Partners LLC now owns 62,979 shares of the company's stock worth $1,202,000 after purchasing an additional 39,497 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Liberty Energy by 3.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 129,833 shares of the company's stock valued at $2,479,000 after purchasing an additional 3,939 shares during the period. Finally, Mutual of America Capital Management LLC lifted its stake in shares of Liberty Energy by 27.2% during the 3rd quarter. Mutual of America Capital Management LLC now owns 466,411 shares of the company's stock valued at $8,904,000 after buying an additional 99,722 shares in the last quarter. 98.22% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Liberty Energy

In other news, CEO Christopher A. Wright sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $19.77, for a total transaction of $395,400.00. Following the transaction, the chief executive officer now directly owns 2,638,813 shares of the company's stock, valued at approximately $52,169,333.01. This trade represents a 0.75 % 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 business's stock in a transaction that occurred 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 sale, the chief financial officer now owns 750,207 shares of the company's stock, valued at $15,011,642.07. The trade was 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 worth $1,911,802 over the last quarter. Insiders own 3.60% of the company's stock.

Wall Street Analysts Forecast Growth

LBRT has been the topic of a number of recent analyst reports. Atb Cap Markets cut Liberty Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 17th. Royal Bank of Canada decreased their target price on Liberty Energy from $26.00 to $23.00 and set an "outperform" rating on the stock in a research note on Friday, October 18th. Stifel Nicolaus dropped their price target on Liberty Energy from $26.00 to $25.00 and set a "buy" rating for the company in a research note on Friday, October 18th. Citigroup downgraded shares of Liberty Energy from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $25.00 to $19.00 in a report on Friday, October 18th. Finally, Barclays reduced their price target on shares of Liberty Energy from $26.00 to $24.00 and set an "overweight" rating on the stock in a report on Wednesday, October 16th. Five research 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.89.

Liberty Energy Price Performance

Shares of Liberty Energy stock traded down $0.01 during trading hours on Friday, reaching $18.43. The company's stock had a trading volume of 909,175 shares, compared to its average volume of 2,527,912. The firm has a 50 day moving average price of $18.65 and a 200-day moving average price of $20.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.97. The stock has a market cap of $3.01 billion, a P/E ratio of 8.78 and a beta of 1.70. Liberty Energy Inc. has a one year low of $16.57 and a one year high of $24.75.

Liberty Energy (NYSE:LBRT - Get Free Report) last issued 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 company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. The company's revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 earnings per share. On average, analysts predict that Liberty Energy Inc. will post 1.75 EPS for the current year.

Liberty Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.74%. This is a positive change from Liberty Energy's previous quarterly dividend of $0.07. The ex-dividend date is Friday, December 6th. Liberty Energy's payout ratio is presently 13.33%.

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.