QRG Capital Management Inc. Has $305,000 Stock Position in Liberty Energy Inc. (NYSE:LBRT)

QRG Capital Management Inc. cut its holdings in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 75.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,995 shares of the company's stock after selling 49,453 shares during the quarter. QRG Capital Management Inc.'s holdings in Liberty Energy were worth $305,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. EdgeRock Capital LLC bought a new stake in shares of Liberty Energy in the 2nd quarter worth approximately $32,000. GAMMA Investing LLC boosted its stake in Liberty Energy by 69.2% during the second quarter. GAMMA Investing LLC now owns 1,743 shares of the company's stock worth $36,000 after buying an additional 713 shares in the last quarter. nVerses Capital LLC increased its holdings in 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. US Bancorp DE raised its stake in shares of Liberty Energy by 93.2% in the 3rd quarter. US Bancorp DE now owns 4,180 shares of the company's stock valued at $80,000 after buying an additional 2,016 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Liberty Energy by 43.3% during the 2nd quarter. CWM LLC now owns 6,213 shares of the company's stock worth $130,000 after acquiring an additional 1,876 shares during the period. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Liberty Energy Price Performance

Shares of NYSE LBRT traded down $0.08 during trading on Tuesday, reaching $17.99. The company had a trading volume of 367,240 shares, compared to its average volume of 2,496,171. Liberty Energy Inc. has a 52 week low of $16.57 and a 52 week high of $24.75. The business's 50 day moving average price is $19.09 and its 200-day moving average price is $20.76. The stock has a market cap of $2.94 billion, a PE ratio of 8.60 and a beta of 1.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 1.23.

Liberty Energy (NYSE:LBRT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.10). The company had revenue of $1.14 billion during 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 business's revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 EPS. 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 declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.08 dividend. 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 annualized dividend and a yield of 1.78%. Liberty Energy's dividend payout ratio (DPR) is currently 13.33%.

Insider Buying and Selling

In other news, CEO Christopher A. Wright sold 2,037 shares of the firm's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $18.15, for a total value of $36,971.55. Following the transaction, the chief executive officer now directly owns 2,578,813 shares in the company, valued at $46,805,455.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Christopher A. Wright sold 2,037 shares of the company's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $18.15, for a total value of $36,971.55. Following the completion of the sale, the chief executive officer now directly owns 2,578,813 shares of the company's stock, valued at $46,805,455.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael Stock sold 5,000 shares of Liberty Energy stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $21.01, for a total transaction of $105,050.00. Following the transaction, the chief financial officer now directly owns 745,207 shares in the company, valued at $15,656,799.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 99,037 shares of company stock worth $1,911,802 over the last three months. 3.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on LBRT shares. Barclays dropped their price target on shares of Liberty Energy from $26.00 to $24.00 and set an "overweight" rating for the company in a research report on Wednesday, October 16th. Piper Sandler decreased their price target on Liberty Energy from $28.00 to $25.00 and set an "overweight" rating on the stock in a research note on Monday, July 15th. 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. Atb Cap Markets cut Liberty Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada lowered 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. Five 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $22.89.

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.