State Street Corp Boosts Holdings in Liberty Energy Inc. (NYSE:LBRT)

State Street Corp grew its position in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,662,830 shares of the company's stock after purchasing an additional 176,887 shares during the quarter. State Street Corp owned about 4.08% of Liberty Energy worth $127,193,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of LBRT. FMR LLC boosted its holdings in shares of Liberty Energy by 17.1% in the 3rd quarter. FMR LLC now owns 18,115,282 shares of the company's stock worth $345,821,000 after buying an additional 2,640,119 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Liberty Energy by 15.9% in the third quarter. Pacer Advisors Inc. now owns 7,012,382 shares of the company's stock worth $133,866,000 after purchasing an additional 963,068 shares during the period. Canoe Financial LP increased its position in shares of 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 purchasing an additional 699,500 shares during the last quarter. American Century Companies Inc. raised its position 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 buying an additional 594,051 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Liberty Energy by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 2,634,256 shares of the company's stock worth $55,030,000 after purchasing an additional 67,362 shares during the last quarter. Institutional investors own 98.22% of the company's stock.

Liberty Energy Trading Down 1.0 %

Shares of LBRT traded down $0.20 during mid-day trading on Friday, reaching $18.97. 2,347,548 shares of the company's stock traded hands, compared to its average volume of 2,551,563. The stock has a market cap of $3.10 billion, a P/E ratio of 9.03 and a beta of 1.71. Liberty Energy Inc. has a 12 month low of $16.57 and a 12 month high of $24.75. The stock's 50-day moving average is $18.30 and its two-hundred day moving average is $19.98. 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 issued 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 business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.14 billion. Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The business's quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 earnings per share. Research analysts forecast that Liberty Energy Inc. will post 1.72 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. Shareholders 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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.32 dividend on an annualized basis and a yield of 1.69%. Liberty Energy's dividend payout ratio is presently 15.24%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on LBRT shares. Stifel Nicolaus reduced their price target on Liberty Energy from $26.00 to $25.00 and set a "buy" rating on the stock in a research report on Friday, October 18th. The Goldman Sachs Group assumed coverage on shares of Liberty Energy in a research note on Friday. They issued a "neutral" rating and a $19.00 price target on the stock. Wells Fargo & Company dropped their price target 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. Citigroup cut Liberty Energy from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $25.00 to $19.00 in a research report on Friday, October 18th. Finally, Atb Cap Markets upgraded Liberty Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.50.

Insider Activity

In related 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 sale, the chief financial officer now owns 730,207 shares of the company's stock, valued at approximately $14,041,880.61. This trade represents a 2.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of the company's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $19.91, for a total transaction of $398,200.00. Following the transaction, the chief executive officer now owns 2,678,813 shares of the company's stock, valued at approximately $53,335,166.83. This trade represents a 0.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 112,973 shares of company stock valued at $2,144,485. Company insiders own 3.60% of the company's stock.

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.