Mutual of America Capital Management LLC raised its holdings in Liberty Energy Inc. (NYSE:LBRT - Free Report) by 27.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 466,411 shares of the company's stock after purchasing an additional 99,722 shares during the quarter. Mutual of America Capital Management LLC owned 0.29% of Liberty Energy worth $8,904,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the business. Canoe Financial LP boosted its holdings in shares of Liberty Energy by 20.4% in the 3rd quarter. Canoe Financial LP now owns 4,124,695 shares of the company's stock valued at $79,408,000 after purchasing an additional 699,500 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of 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 in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Liberty Energy by 2.6% during 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 in the last quarter. Hennessy Advisors Inc. boosted its holdings in shares of Liberty Energy by 48.0% during the 2nd quarter. Hennessy Advisors Inc. now owns 1,981,100 shares of the company's stock valued at $41,385,000 after acquiring an additional 642,700 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in shares of Liberty Energy by 19.5% during the 2nd quarter. LSV Asset Management now owns 1,717,591 shares of the company's stock valued at $35,880,000 after acquiring an additional 280,550 shares in the last quarter. Institutional investors and hedge funds own 98.22% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have commented on the company. Royal Bank of Canada cut their target price on Liberty Energy from $26.00 to $23.00 and set an "outperform" rating on the stock in a report on Friday, October 18th. Wells Fargo & Company decreased their target price on Liberty Energy from $25.00 to $24.00 and set an "overweight" rating for the company in a research report on Friday, October 18th. Evercore ISI raised Liberty Energy to a "strong-buy" rating in a research report on Thursday, October 17th. Stifel Nicolaus decreased their target price on 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, 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. Five equities 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 stock. According to data from MarketBeat, Liberty Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.89.
Check Out Our Latest Research Report on LBRT
Liberty Energy Stock Performance
Shares of NYSE LBRT traded up $0.83 during midday trading on Monday, reaching $17.73. The company's stock had a trading volume of 8,741,623 shares, compared to its average volume of 2,528,236. Liberty Energy Inc. has a 12-month low of $16.57 and a 12-month high of $24.75. The firm has a 50 day moving average price of $18.93 and a 200-day moving average price of $20.63. The stock has a market capitalization of $2.90 billion, a P/E ratio of 8.44 and a beta of 1.70. 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 posted its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.10). Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter in the previous year, the company posted $0.85 EPS. Liberty Energy's revenue for the quarter was down 6.4% on a year-over-year basis. As a group, equities analysts predict that Liberty Energy Inc. will post 1.75 earnings per share for the current year.
Liberty Energy Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.08 per share. This is a boost from Liberty Energy's previous quarterly dividend of $0.07. The ex-dividend date is Friday, December 6th. This represents a $0.32 dividend on an annualized basis and a yield of 1.81%. Liberty Energy's payout ratio is presently 15.24%.
Insider Buying and Selling at Liberty Energy
In other news, CFO Michael Stock sold 15,000 shares of the company's stock in a transaction 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 transaction, the chief financial officer now owns 750,207 shares of the company's stock, valued at approximately $15,011,642.07. This represents a 1.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher A. Wright sold 2,037 shares of the company's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $18.15, for a total transaction of $36,971.55. Following the completion of the transaction, the chief executive officer now directly owns 2,578,813 shares in the company, valued at approximately $46,805,455.95. The trade was a 0.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 99,037 shares of company stock valued at $1,911,802 in the last 90 days. 3.60% of the stock is currently owned by company insiders.
About Liberty Energy
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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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