Impala Asset Management LLC grew its position in Liberty Energy Inc. (NYSE:LBRT - Free Report) by 89.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 350,000 shares of the company's stock after buying an additional 165,000 shares during the period. Liberty Energy accounts for approximately 4.6% of Impala Asset Management LLC's investment portfolio, making the stock its 6th largest holding. Impala Asset Management LLC owned approximately 0.21% of Liberty Energy worth $6,682,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in LBRT. Barclays PLC raised its stake in shares of Liberty Energy by 197.9% during the third quarter. Barclays PLC now owns 286,661 shares of the company's stock worth $5,471,000 after buying an additional 190,445 shares during the last quarter. Y Intercept Hong Kong Ltd grew its holdings in Liberty Energy by 29.0% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 80,289 shares of the company's stock worth $1,533,000 after acquiring an additional 18,069 shares during the period. MML Investors Services LLC raised its position in shares of Liberty Energy by 6.4% during the 3rd quarter. MML Investors Services LLC now owns 122,749 shares of the company's stock valued at $2,343,000 after acquiring an additional 7,390 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Liberty Energy in the 3rd quarter valued at $407,000. Finally, Weiss Asset Management LP bought a new position in shares of Liberty Energy in the 3rd quarter worth $587,000. Institutional investors own 98.22% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on LBRT shares. Barclays cut their target price on Liberty Energy from $26.00 to $24.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 16th. Royal Bank of Canada reduced their price objective on shares of Liberty Energy from $26.00 to $23.00 and set an "outperform" rating on the stock in a research note on Friday, October 18th. Citigroup lowered shares of Liberty Energy from a "buy" rating to a "neutral" rating and decreased their price target for the company from $25.00 to $19.00 in a report on Friday, October 18th. Wells Fargo & Company reduced their target price on Liberty Energy from $25.00 to $24.00 and set an "overweight" rating on the stock in a report on Friday, October 18th. Finally, Evercore ISI raised Liberty Energy to a "strong-buy" rating in a research report on Thursday, October 17th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $22.89.
View Our Latest Research Report on LBRT
Insiders Place Their Bets
In other Liberty Energy news, CEO Christopher A. Wright sold 16,000 shares of Liberty Energy stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $18.23, for a total transaction of $291,680.00. Following the transaction, the chief executive officer now directly owns 2,562,813 shares of the company's stock, valued at approximately $46,720,080.99. The trade was a 0.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Stock sold 15,000 shares of Liberty Energy stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $19.23, for a total value of $288,450.00. Following the completion of the transaction, the chief financial officer now directly owns 730,207 shares in the company, valued at approximately $14,041,880.61. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,037 shares of company stock worth $2,088,232 over the last three months. Insiders own 3.60% of the company's stock.
Liberty Energy Stock Performance
Shares of LBRT traded up $1.06 during midday trading on Tuesday, reaching $18.49. 6,876,170 shares of the stock were exchanged, compared to its average volume of 2,535,765. Liberty Energy Inc. has a twelve month low of $16.57 and a twelve month high of $24.75. The company has a market cap of $3.02 billion, a P/E ratio of 8.80 and a beta of 1.71. The stock's 50 day simple moving average is $18.37 and its 200 day simple moving average is $20.07. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17.
Liberty Energy (NYSE:LBRT - Get Free Report) last announced 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 business 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 firm's revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.85 earnings per share. On average, sell-side analysts expect that Liberty Energy Inc. will post 1.75 earnings per share for the current year.
Liberty Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.73%. This is a boost from Liberty Energy's previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, December 6th. Liberty Energy's dividend payout ratio (DPR) is 15.24%.
About Liberty Energy
(
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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