Geode Capital Management LLC Has $72.17 Million Stake in Liberty Energy Inc. (NYSE:LBRT)

Geode Capital Management LLC increased its stake in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 5.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,779,906 shares of the company's stock after buying an additional 207,527 shares during the period. Geode Capital Management LLC owned 2.31% of Liberty Energy worth $72,173,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Covestor Ltd lifted its position in shares of Liberty Energy by 96.8% during the third quarter. Covestor Ltd now owns 1,704 shares of the company's stock worth $33,000 after purchasing an additional 838 shares in the last quarter. Quarry LP boosted its position in Liberty Energy by 237.5% in the 3rd quarter. Quarry LP now owns 1,991 shares of the company's stock valued at $38,000 after buying an additional 1,401 shares during the last quarter. nVerses Capital LLC increased its stake in shares of Liberty Energy by 45.0% in the 2nd quarter. nVerses Capital LLC now owns 2,900 shares of the company's stock valued at $61,000 after buying an additional 900 shares during the period. GAMMA Investing LLC raised its position in shares of Liberty Energy by 82.1% during the third quarter. GAMMA Investing LLC now owns 3,174 shares of the company's stock worth $61,000 after acquiring an additional 1,431 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of Liberty Energy by 93.2% during the third 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 period. Institutional investors own 98.22% of the company's stock.

Liberty Energy Stock Down 0.5 %

Shares of LBRT traded down $0.10 during midday trading on Friday, hitting $18.17. The stock had a trading volume of 7,394,733 shares, compared to its average volume of 2,572,177. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 8.65 and a beta of 1.71. The company has a 50 day simple moving average of $18.11 and a two-hundred day simple moving average of $19.84. Liberty Energy Inc. has a twelve month low of $16.57 and a twelve month high of $24.75. 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 released 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 the consensus estimate of $1.14 billion. Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The company's revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 EPS. On average, analysts anticipate that Liberty Energy Inc. will post 1.72 EPS for the current year.

Liberty Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a $0.08 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.32 dividend on an annualized basis and a yield of 1.76%. This is an increase from Liberty Energy's previous quarterly dividend of $0.07. Liberty Energy's dividend payout ratio (DPR) is 15.24%.

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, CFO Michael Stock sold 15,000 shares of the company's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $19.23, for a total value of $288,450.00. Following the transaction, the chief financial officer now directly owns 730,207 shares in the company, valued at $14,041,880.61. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher A. Wright sold 20,000 shares of the company'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 value of $395,400.00. Following the completion of the transaction, the chief executive officer now directly owns 2,638,813 shares in the company, valued at $52,169,333.01. The trade was a 0.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 87,973 shares of company stock worth $1,641,235. Insiders own 3.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LBRT shares. Citigroup cut Liberty Energy from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $25.00 to $19.00 in a report on Friday, October 18th. Wells Fargo & Company cut 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. Evercore ISI upgraded shares of Liberty Energy to a "strong-buy" rating in a research report on Thursday, October 17th. Barclays dropped their price objective on Liberty Energy from $26.00 to $24.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. Finally, Royal Bank of Canada decreased their target price on Liberty Energy from $26.00 to $23.00 and set an "outperform" rating for the company in a research report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Liberty Energy has a consensus rating of "Moderate Buy" and a consensus target price of $22.50.

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.