JPMorgan Chase & Co. Has $60.06 Million Stock Position in Liberty Energy Inc. (NYSE:LBRT)

JPMorgan Chase & Co. raised its position in Liberty Energy Inc. (NYSE:LBRT - Free Report) by 61.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,146,179 shares of the company's stock after purchasing an additional 1,193,918 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.93% of Liberty Energy worth $60,061,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LBRT. 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 last quarter. Quarry LP lifted its position in shares of Liberty Energy by 237.5% in the third quarter. Quarry LP now owns 1,991 shares of the company's stock worth $38,000 after buying an additional 1,401 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Liberty Energy by 82.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,174 shares of the company's stock worth $61,000 after acquiring an additional 1,431 shares in the last quarter. US Bancorp DE increased its holdings in shares of Liberty Energy by 93.2% during the 3rd quarter. US Bancorp DE now owns 4,180 shares of the company's stock valued at $80,000 after acquiring an additional 2,016 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of Liberty Energy by 24.8% during the 3rd quarter. KBC Group NV now owns 4,906 shares of the company's stock valued at $94,000 after acquiring an additional 974 shares during the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Barclays decreased their target price on Liberty Energy from $26.00 to $24.00 and set an "overweight" rating for the company in a research report on Wednesday, October 16th. Atb Cap Markets raised shares of Liberty Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 10th. Royal Bank of Canada dropped their target price on shares of Liberty Energy from $26.00 to $23.00 and set an "outperform" rating on the stock in a report on Friday, October 18th. Stifel Nicolaus cut their target price on shares of Liberty Energy from $26.00 to $25.00 and set a "buy" rating for the company in a research report on Friday, October 18th. Finally, Wells Fargo & Company lowered their price target on Liberty Energy from $25.00 to $24.00 and set an "overweight" rating on the stock in a research report on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $22.50.

Liberty Energy Price Performance

Shares of Liberty Energy stock traded up $0.18 during midday trading on Friday, hitting $20.89. 2,815,756 shares of the company were exchanged, compared to its average volume of 2,845,578. The firm has a 50 day simple moving average of $18.32 and a 200-day simple moving average of $19.64. Liberty Energy Inc. has a 52 week low of $16.57 and a 52 week high of $24.75. The firm has a market cap of $3.41 billion, a P/E ratio of 9.95 and a beta of 1.66. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.97.

Liberty Energy (NYSE:LBRT - Get Free Report) last issued its 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 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%. The firm's revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 EPS. Research analysts forecast that Liberty Energy Inc. will post 1.72 earnings per share for the current year.

Liberty Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.08 per share. This is a positive change from Liberty Energy's previous quarterly dividend of $0.07. The ex-dividend date was Friday, December 6th. This represents a $0.32 annualized dividend and a dividend yield of 1.53%. Liberty Energy's dividend payout ratio (DPR) is presently 15.24%.

Insider Activity

In other news, CEO Christopher A. Wright sold 2,037 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 2,578,813 shares in the company, valued at approximately $46,805,455.95. This represents a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Stock sold 20,000 shares of the firm's 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 sale, the chief financial officer now directly owns 680,207 shares of the company's stock, valued at approximately $14,161,909.74. This represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,973 shares of company stock worth $1,471,335. Insiders own 3.60% of the company's stock.

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.