Fox Run Management L.L.C. acquired a new position in shares of Liberty Energy Inc. (NYSE:LBRT – Free Report) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 76,815 shares of the company’s stock, valued at approximately $1,418,000.
Several other institutional investors and hedge funds also recently made changes to their positions in LBRT. Franklin Resources Inc. increased its holdings in shares of Liberty Energy by 78.5% during the 3rd quarter. Franklin Resources Inc. now owns 8,575,840 shares of the company’s stock worth $105,826,000 after purchasing an additional 3,771,724 shares during the period. Balyasny Asset Management L.P. increased its holdings in shares of Liberty Energy by 1,529.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,753,357 shares of the company’s stock worth $33,976,000 after purchasing an additional 2,584,359 shares during the period. Sourcerock Group LLC bought a new position in shares of Liberty Energy during the 2nd quarter worth about $23,653,000. Cooper Creek Partners Management LLC bought a new position in shares of Liberty Energy during the 3rd quarter worth about $22,336,000. Finally, American Century Companies Inc. increased its holdings in shares of Liberty Energy by 28.2% during the 3rd quarter. American Century Companies Inc. now owns 7,809,390 shares of the company’s stock worth $96,368,000 after purchasing an additional 1,716,007 shares during the period. Institutional investors own 98.22% of the company’s stock.
Analyst Ratings Changes
LBRT has been the topic of several research reports. UBS Group restated a “buy” rating on shares of Liberty Energy in a report on Tuesday, May 26th. The Goldman Sachs Group restated a “neutral” rating and set a $31.00 price objective on shares of Liberty Energy in a report on Wednesday, June 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Liberty Energy in a report on Friday, May 1st. Royal Bank Of Canada restated a “sector perform” rating and set a $32.00 price objective on shares of Liberty Energy in a report on Friday, April 24th. Finally, Citigroup boosted their price objective on shares of Liberty Energy from $21.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Liberty Energy currently has an average rating of “Moderate Buy” and an average price target of $32.18.
Liberty Energy Stock Performance
NYSE LBRT opened at $28.79 on Tuesday. The stock has a market cap of $4.70 billion, a P/E ratio of 31.63, a PEG ratio of 8.50 and a beta of 0.51. The company’s 50-day simple moving average is $30.47 and its 200 day simple moving average is $25.53. Liberty Energy Inc. has a twelve month low of $9.90 and a twelve month high of $34.48. The company has a quick ratio of 1.97, a current ratio of 2.21 and a debt-to-equity ratio of 0.75.
Liberty Energy (NYSE:LBRT – Get Free Report) last posted its earnings results on Wednesday, April 22nd. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.19. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $954.71 million. Liberty Energy had a net margin of 3.71% and a return on equity of 1.41%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 earnings per share. As a group, research analysts forecast that Liberty Energy Inc. will post 0.07 earnings per share for the current fiscal year.
Liberty Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.36 dividend on an annualized basis and a yield of 1.3%. Liberty Energy’s payout ratio is presently 39.56%.
Insider Transactions at Liberty Energy
In related news, CFO Michael Stock sold 3,333 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $31.00, for a total value of $103,323.00. Following the sale, the chief financial officer owned 783,710 shares of the company’s stock, valued at $24,295,010. The trade was a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman William F. Kimble sold 7,350 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $33.92, for a total transaction of $249,312.00. Following the completion of the sale, the chairman directly owned 89,805 shares in the company, valued at approximately $3,046,185.60. The trade was a 7.57% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 44,013 shares of company stock worth $1,414,929. 2.00% of the stock is currently owned by insiders.
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. As of as of December 31, 2023, the company owned and operated a fleet of approximately 40 active hydraulic fracturing; and two sand mines in the Permian Basin.
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