Allspring Global Investments Holdings LLC decreased its holdings in Liberty Energy Inc. (NYSE:LBRT - Free Report) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,872,813 shares of the company's stock after selling 46,367 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.12% of Liberty Energy worth $35,752,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of LBRT. Diversified Trust Co increased its holdings in shares of Liberty Energy by 2.5% during the 1st quarter. Diversified Trust Co now owns 20,617 shares of the company's stock worth $427,000 after buying an additional 507 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Liberty Energy by 4.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 14,262 shares of the company's stock worth $296,000 after buying an additional 543 shares during the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Liberty Energy by 2.4% during the 1st quarter. Perigon Wealth Management LLC now owns 24,815 shares of the company's stock worth $514,000 after buying an additional 571 shares during the last quarter. Andina Capital Management LLC increased its holdings in shares of Liberty Energy by 3.9% during the 2nd quarter. Andina Capital Management LLC now owns 18,599 shares of the company's stock worth $389,000 after buying an additional 691 shares during the last quarter. Finally, Creative Planning boosted its position in shares of Liberty Energy by 3.7% during the 3rd quarter. Creative Planning now owns 19,456 shares of the company's stock worth $371,000 after purchasing an additional 703 shares during the period. Institutional investors and hedge funds own 98.22% of the company's stock.
Liberty Energy Stock Down 0.7 %
Shares of Liberty Energy stock traded down $0.11 during trading on Wednesday, hitting $17.18. 2,155,430 shares of the stock were exchanged, compared to its average volume of 2,512,445. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 6.31, a price-to-earnings-growth ratio of 1.20 and a beta of 1.68. The firm's 50-day moving average price is $19.90 and its 200 day moving average price is $21.23. Liberty Energy Inc. has a 12-month low of $16.69 and a 12-month high of $24.75. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 1.07.
Liberty Energy (NYSE:LBRT - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 earnings per share (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 return on equity of 22.85% and a net margin of 9.53%. Liberty Energy's revenue for the quarter was down 6.4% on a year-over-year basis. During the same period last year, the firm posted $0.85 earnings per share. As a group, analysts forecast that Liberty Energy Inc. will post 2.14 earnings per share for the current fiscal year.
Liberty Energy Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid 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 yield of 1.86%. The ex-dividend date of this dividend is Friday, December 6th. Liberty Energy's dividend payout ratio (DPR) is currently 11.68%.
Analysts Set New Price Targets
A number of research firms recently weighed in on LBRT. Stifel Nicolaus lowered their price objective 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. Royal Bank of Canada lowered their price objective on shares of Liberty Energy from $26.00 to $23.00 and set an "outperform" rating for the company in a research report on Friday, October 18th. Wells Fargo & Company lowered their price objective on shares of 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 shares of Liberty Energy to a "strong-buy" rating in a research report on Thursday, October 17th. Finally, Piper Sandler decreased their price target on shares of Liberty Energy from $28.00 to $25.00 and set an "overweight" rating for the company in a research report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $22.70.
View Our Latest Stock Report on LBRT
Insider Buying and Selling
In related news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction on Monday, September 16th. The shares were sold at an average price of $19.91, for a total transaction of $398,200.00. Following the sale, the chief executive officer now directly owns 2,678,813 shares in the company, valued at $53,335,166.83. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Liberty Energy news, CFO Michael Stock sold 15,000 shares of Liberty Energy 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 approximately $14,041,880.61. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction on Monday, September 16th. The shares were sold at an average price of $19.91, for a total transaction of $398,200.00. Following the completion of the transaction, the chief executive officer now owns 2,678,813 shares in the company, valued at approximately $53,335,166.83. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,000 shares of company stock worth $1,945,650 in the last ninety days. 3.60% of the stock is owned by corporate insiders.
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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