Royce & Associates LP raised its position in Liberty Energy Inc. (NYSE:LBRT – Free Report) by 11.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 581,190 shares of the company’s stock after buying an additional 57,732 shares during the period. Royce & Associates LP’s holdings in Liberty Energy were worth $10,729,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kelleher Financial Advisors purchased a new position in Liberty Energy in the 3rd quarter valued at about $29,000. First Horizon Corp lifted its holdings in Liberty Energy by 58.2% in the 4th quarter. First Horizon Corp now owns 1,620 shares of the company’s stock valued at $30,000 after purchasing an additional 596 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Liberty Energy in the 4th quarter valued at about $32,000. Advisory Services Network LLC purchased a new position in Liberty Energy in the 3rd quarter valued at about $35,000. Finally, Smartleaf Asset Management LLC lifted its holdings in Liberty Energy by 213.7% in the 2nd quarter. Smartleaf Asset Management LLC now owns 3,607 shares of the company’s stock valued at $42,000 after purchasing an additional 2,457 shares in the last quarter. 98.22% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Liberty Energy
In related news, Chairman William F. Kimble sold 7,350 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $33.92, for a total value of $249,312.00. Following the transaction, the chairman owned 89,805 shares in the company, valued at approximately $3,046,185.60. This trade represents a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michael Stock sold 19,998 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $33.48, for a total transaction of $669,533.04. Following the completion of the transaction, the chief financial officer owned 800,375 shares in the company, valued at $26,796,555. The trade was a 2.44% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.00% of the company’s stock.
Liberty Energy Trading Down 5.9%
Liberty Energy (NYSE:LBRT – Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.19. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $954.71 million. Liberty Energy had a net margin of 3.71% and a return on equity of 1.41%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.04 EPS. As a group, equities analysts forecast that Liberty Energy Inc. will post 0.07 EPS for the current year.
Liberty Energy Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be issued a $0.09 dividend. The ex-dividend date is Thursday, June 4th. This represents a $0.36 annualized dividend and a yield of 1.2%. Liberty Energy’s dividend payout ratio (DPR) is presently 39.56%.
Analysts Set New Price Targets
A number of research firms have issued reports on LBRT. Wall Street Zen upgraded shares of Liberty Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Barclays increased their price objective on shares of Liberty Energy from $29.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Stifel Nicolaus increased their price objective on shares of Liberty Energy from $28.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Morgan Stanley set a $36.00 price objective on shares of Liberty Energy in a report on Monday, April 27th. Finally, Citigroup increased 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 investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Liberty Energy has a consensus rating of “Moderate Buy” and a consensus price target of $30.42.
Get Our Latest Analysis on LBRT
Liberty Energy 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. 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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