Liberty Energy Inc. (NYSE:LBRT) Shares Bought by Quest Partners LLC

Quest Partners LLC grew its stake in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 168.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,979 shares of the company's stock after buying an additional 39,497 shares during the period. Quest Partners LLC's holdings in Liberty Energy were worth $1,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of LBRT. Canoe Financial LP lifted its position in Liberty Energy by 20.4% in the third quarter. Canoe Financial LP now owns 4,124,695 shares of the company's stock worth $79,408,000 after buying an additional 699,500 shares during the last quarter. Hennessy Advisors Inc. increased its position in 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 purchasing an additional 642,700 shares during the period. American Century Companies Inc. raised its stake in Liberty Energy by 17.6% in the second quarter. American Century Companies Inc. now owns 3,961,415 shares of the company's stock worth $82,754,000 after buying an additional 594,051 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Liberty Energy by 345.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 573,200 shares of the company's stock worth $11,974,000 after acquiring an additional 444,500 shares in the last quarter. Finally, Cardinal Point Capital Management ULC purchased a new stake in shares of Liberty Energy during the third quarter valued at about $7,636,000. Hedge funds and other institutional investors own 98.22% of the company's stock.

Insiders Place Their Bets

In related news, CEO Christopher A. Wright sold 20,000 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now owns 2,678,813 shares of the company's stock, valued at approximately $53,335,166.83. This represents a 0.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Stock sold 5,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $17.21, for a total transaction of $86,050.00. Following the completion of the sale, the chief financial officer now owns 725,207 shares of the company's stock, valued at approximately $12,480,812.47. The trade was a 0.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 99,037 shares of company stock worth $1,911,802. Corporate insiders own 3.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Atb Cap Markets cut Liberty Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 17th. Evercore ISI upgraded Liberty Energy to a "strong-buy" rating in a research note on Thursday, October 17th. Citigroup downgraded Liberty Energy from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $25.00 to $19.00 in a report on Friday, October 18th. Stifel Nicolaus cut their price target on shares of Liberty Energy from $26.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, October 18th. Finally, Wells Fargo & Company decreased 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 note on Friday, October 18th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $22.89.

Liberty Energy Price Performance

Shares of Liberty Energy stock traded up $0.22 on Wednesday, reaching $17.57. The company's stock had a trading volume of 2,337,415 shares, compared to its average volume of 2,528,015. Liberty Energy Inc. has a 52-week low of $16.57 and a 52-week high of $24.75. The company has a market capitalization of $2.87 billion, a P/E ratio of 8.37 and a beta of 1.70. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average price of $18.84 and a 200-day moving average price of $20.55.

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 analysts' consensus estimates of $0.55 by ($0.10). Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The business's revenue was down 6.4% on a year-over-year basis. Analysts expect that Liberty Energy Inc. will post 1.75 EPS 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 issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.82%. This is a boost from Liberty Energy's previous quarterly dividend of $0.07. The ex-dividend date is Friday, December 6th. Liberty Energy's payout ratio is presently 13.33%.

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.