Pekin Hardy Strauss Inc. increased its position in Liberty Energy Inc. (NYSE:LBRT – Free Report) by 982.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 189,395 shares of the company’s stock after acquiring an additional 171,895 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Liberty Energy were worth $3,451,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in LBRT. Root Financial Partners LLC lifted its stake in Liberty Energy by 79.6% in the first quarter. Root Financial Partners LLC now owns 914 shares of the company’s stock valued at $26,000 after acquiring an additional 405 shares during the last quarter. Valued Wealth Advisors LLC bought a new stake in Liberty Energy in the first quarter worth approximately $26,000. Reyes Financial Architecture Inc. bought a new stake in Liberty Energy in the third quarter worth approximately $27,000. Summit Securities Group LLC acquired a new position in shares of Liberty Energy during the 1st quarter worth $28,000. Finally, Pinnacle Wealth Planning Services Inc. raised its holdings in shares of Liberty Energy by 36.8% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 2,862 shares of the company’s stock valued at $52,000 after purchasing an additional 770 shares in the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently issued reports on LBRT. Zacks Research lowered shares of Liberty Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. TD Cowen lowered their target price on shares of Liberty Energy from $24.00 to $22.00 and set a “hold” rating on the stock in a research report on Friday, October 23rd. Royal Bank Of Canada lowered their target price on shares of Liberty Energy from $34.00 to $29.00 and set a “sector perform” rating on the stock in a research report on Friday, July 24th. Citigroup raised their target price on Liberty Energy from $27.50 to $28.00 and gave the company a “buy” rating in a report on Monday, October 26th. Finally, UBS Group reduced their price target on Liberty Energy from $31.00 to $27.00 and set a “buy” rating for the company in a research report on Friday, October 23rd. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.42.
Read Our Latest Research Report on Liberty Energy
Insider Activity at Liberty Energy
In other Liberty Energy news, CAO Ryan T. Gosney bought 3,000 shares of the business’s stock in a transaction on Tuesday, November 3rd. The shares were bought at an average cost of $15.00 per share, for a total transaction of $45,000.00. Following the transaction, the chief accounting officer owned 236,327 shares in the company, valued at approximately $3,544,905. This trade represents a 1.29% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ron Gusek acquired 25,000 shares of Liberty Energy stock in a transaction on Tuesday, November 3rd. The stock was acquired at an average cost of $15.09 per share, for a total transaction of $377,250.00. Following the completion of the purchase, the chief executive officer owned 1,068,702 shares of the company’s stock, valued at approximately $16,126,713.18. The trade was a 2.40% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 42,500 shares of company stock valued at $645,550 and sold 16,665 shares valued at $315,268. Insiders own 2.00% of the company’s stock.
Liberty Energy Stock Performance
NYSE LBRT opened at $11.29 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.30 and a quick ratio of 1.09. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 50.58, a P/E/G ratio of 3.06 and a beta of 0.72. The company’s fifty day moving average is $18.27 and its two-hundred day moving average is $24.47. Liberty Energy Inc. has a 52-week low of $11.24 and a 52-week high of $34.48.
Liberty Energy (NYSE:LBRT – Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. Liberty Energy had a net margin of 0.91% and a return on equity of 2.13%. The firm’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.06) EPS. Equities research analysts forecast that Liberty Energy Inc. will post 0.21 EPS for the current year.
Liberty Energy Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a $0.10 dividend. This is a boost from Liberty Energy’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, December 4th. Liberty Energy’s payout ratio is presently 150.00%.
Liberty Energy Profile
Liberty Energy Inc is an oilfield services company that provides completion and production services to exploration and production companies. Its primary business is hydraulic fracturing, a well-stimulation technique used to improve the flow of oil and natural gas from unconventional reservoirs.
The company also offers wireline services, well diagnostics, frac data analysis, engineering support, and related technologies designed to help customers plan, execute, and evaluate well-completion operations.
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