Quantbot Technologies LP lifted its holdings in Liberty Energy Inc. (NYSE:LBRT - Free Report) by 132.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 113,744 shares of the company's stock after acquiring an additional 64,790 shares during the period. Quantbot Technologies LP owned 0.07% of Liberty Energy worth $2,171,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in Liberty Energy by 17.1% during the 3rd quarter. FMR LLC now owns 18,115,282 shares of the company's stock valued at $345,821,000 after purchasing an additional 2,640,119 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Liberty Energy by 15.9% in the third quarter. Pacer Advisors Inc. now owns 7,012,382 shares of the company's stock worth $133,866,000 after buying an additional 963,068 shares during the period. Canoe Financial LP lifted its stake in shares of Liberty Energy by 20.4% during the 3rd quarter. Canoe Financial LP now owns 4,124,695 shares of the company's stock worth $79,408,000 after acquiring an additional 699,500 shares during the last quarter. American Century Companies Inc. boosted its holdings in Liberty Energy by 17.6% during the 2nd quarter. American Century Companies Inc. now owns 3,961,415 shares of the company's stock valued at $82,754,000 after acquiring an additional 594,051 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Liberty Energy by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,634,256 shares of the company's stock valued at $55,030,000 after acquiring an additional 67,362 shares during the last quarter. Hedge funds and other institutional investors own 98.22% of the company's stock.
Insider Activity
In related news, CFO Michael Stock sold 15,000 shares of Liberty Energy 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 transaction, the chief financial officer now owns 750,207 shares in the company, valued at $15,011,642.07. The trade was a 1.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher A. Wright sold 2,037 shares of the firm's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $18.15, for a total transaction of $36,971.55. Following the completion of the sale, the chief executive officer now owns 2,578,813 shares in the company, valued at $46,805,455.95. The trade was a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,037 shares of company stock valued at $1,911,802. 3.60% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of brokerages have commented on LBRT. Evercore ISI upgraded shares of Liberty Energy to a "strong-buy" rating in a research note on Thursday, October 17th. Stifel Nicolaus dropped their target price on Liberty Energy from $26.00 to $25.00 and set a "buy" rating on the stock in a research report on Friday, October 18th. Barclays reduced their price objective 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. Royal Bank of Canada decreased their price target on Liberty Energy from $26.00 to $23.00 and set an "outperform" rating for the company in a research note on Friday, October 18th. Finally, Wells Fargo & Company dropped their price objective on shares of Liberty Energy from $25.00 to $24.00 and set an "overweight" rating on the stock in a report on Friday, October 18th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $22.89.
View Our Latest Report on Liberty Energy
Liberty Energy Price Performance
LBRT traded down $0.01 on Friday, hitting $18.43. 909,175 shares of the company's stock were exchanged, compared to its average volume of 2,527,912. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 8.78 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. 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 current ratio of 1.23, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17.
Liberty Energy (NYSE:LBRT - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.10). The firm 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 EPS. As a group, equities analysts anticipate that Liberty Energy Inc. will post 1.75 earnings per share for the current year.
Liberty Energy Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.08 per share. This is a positive change from Liberty Energy's previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Friday, December 6th. Liberty Energy's dividend payout ratio (DPR) is currently 13.33%.
Liberty Energy Profile
(
Free Report)
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.
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