Segall Bryant & Hamill LLC bought a new position in Liberty Energy Inc. (NYSE:LBRT - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 63,608 shares of the company's stock, valued at approximately $1,214,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Prospera Financial Services Inc lifted its stake in shares of Liberty Energy by 7.3% in the third quarter. Prospera Financial Services Inc now owns 16,047 shares of the company's stock worth $306,000 after acquiring an additional 1,091 shares in the last quarter. Quest Partners LLC increased its holdings in Liberty Energy by 168.2% during the 3rd quarter. Quest Partners LLC now owns 62,979 shares of the company's stock worth $1,202,000 after purchasing an additional 39,497 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Liberty Energy by 3.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 129,833 shares of the company's stock valued at $2,479,000 after purchasing an additional 3,939 shares in the last quarter. Mutual of America Capital Management LLC grew its position in shares of Liberty Energy by 27.2% during the third quarter. Mutual of America Capital Management LLC now owns 466,411 shares of the company's stock worth $8,904,000 after buying an additional 99,722 shares in the last quarter. Finally, Natixis Advisors LLC increased its stake in shares of Liberty Energy by 17.8% in the third quarter. Natixis Advisors LLC now owns 24,662 shares of the company's stock worth $471,000 after buying an additional 3,733 shares during the last quarter. Hedge funds and other institutional investors own 98.22% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on LBRT. Atb Cap Markets downgraded shares of 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. Royal Bank of Canada cut their price objective on Liberty Energy from $26.00 to $23.00 and set an "outperform" rating on the stock in a research note on Friday, October 18th. Stifel Nicolaus lowered their price target on Liberty Energy from $26.00 to $25.00 and set a "buy" rating for the company in a report on Friday, October 18th. Finally, Wells Fargo & Company reduced their price objective on Liberty Energy from $25.00 to $24.00 and set an "overweight" rating on the stock in a research note on Friday, October 18th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $22.89.
Get Our Latest Report on Liberty Energy
Liberty Energy Stock Performance
NYSE LBRT traded up $0.64 on Friday, hitting $18.99. The stock had a trading volume of 4,194,036 shares, compared to its average volume of 2,626,980. The company's 50-day moving average is $18.82 and its two-hundred day moving average is $20.49. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 9.04 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. Liberty Energy Inc. has a one year low of $16.57 and a one year high of $24.75.
Liberty Energy (NYSE:LBRT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.55 by ($0.10). The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. The company's revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 EPS. On average, analysts expect that Liberty Energy Inc. will post 1.75 earnings per share for the current year.
Liberty Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, December 6th. This is a boost from Liberty Energy's previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 1.69%. Liberty Energy's dividend payout ratio (DPR) is 13.33%.
Insider Activity at Liberty Energy
In other Liberty Energy news, CEO Christopher A. Wright sold 2,037 shares of Liberty Energy stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $18.15, for a total value of $36,971.55. Following the transaction, the chief executive officer now owns 2,578,813 shares in the company, valued at approximately $46,805,455.95. The trade was a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the chief financial officer now directly owns 750,207 shares in the company, valued at $15,011,642.07. This represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 99,037 shares of company stock worth $1,911,802 over the last quarter. 3.60% of the stock is currently owned by company 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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