Wellington Management Group LLP Decreases Position in Liberty Energy Inc. (NYSE:LBRT)

Wellington Management Group LLP lowered its stake in shares of Liberty Energy Inc. (NYSE:LBRT) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 738,962 shares of the company’s stock after selling 26,059 shares during the period. Wellington Management Group LLP owned 0.44% of Liberty Energy worth $13,405,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Jackson Creek Investment Advisors LLC purchased a new position in Liberty Energy in the 4th quarter valued at approximately $800,000. International Assets Investment Management LLC boosted its holdings in Liberty Energy by 1,777.4% in the 4th quarter. International Assets Investment Management LLC now owns 233,280 shares of the company’s stock valued at $4,232,000 after purchasing an additional 220,854 shares during the period. American Century Companies Inc. boosted its holdings in Liberty Energy by 12.4% in the 3rd quarter. American Century Companies Inc. now owns 2,241,076 shares of the company’s stock valued at $41,505,000 after purchasing an additional 247,074 shares during the period. LSV Asset Management boosted its holdings in Liberty Energy by 522.2% in the 4th quarter. LSV Asset Management now owns 897,180 shares of the company’s stock valued at $16,275,000 after purchasing an additional 752,980 shares during the period. Finally, Knights of Columbus Asset Advisors LLC bought a new position in Liberty Energy in the 4th quarter valued at $3,532,000. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LBRT has been the subject of several analyst reports. Citigroup raised shares of Liberty Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $24.00 to $32.00 in a report on Wednesday, May 29th. Royal Bank of Canada raised their price target on shares of Liberty Energy from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Morgan Stanley reissued an “equal weight” rating and issued a $24.00 price target on shares of Liberty Energy in a report on Monday, April 22nd. TD Cowen lifted their price objective on shares of Liberty Energy from $19.00 to $21.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Finally, Barclays lifted their price objective on shares of Liberty Energy from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Liberty Energy presently has an average rating of “Moderate Buy” and a consensus target price of $25.50.

Liberty Energy Price Performance

Shares of NYSE:LBRT opened at $20.22 on Thursday. The stock has a market cap of $3.37 billion, a PE ratio of 7.38, a PEG ratio of 1.04 and a beta of 1.82. The company’s fifty day moving average is $22.40 and its 200 day moving average is $20.75. Liberty Energy Inc. has a 52 week low of $12.57 and a 52 week high of $24.75. The company has a quick ratio of 1.16, a current ratio of 1.48 and a debt-to-equity ratio of 0.17.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Thursday, April 18th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. Liberty Energy’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 EPS. Research analysts anticipate that Liberty Energy Inc. will post 2.52 earnings per share for the current year.

Liberty Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Thursday, June 6th. Liberty Energy’s payout ratio is presently 10.22%.

Insider Buying and Selling

In related news, CFO Michael Stock sold 20,000 shares of Liberty Energy stock in a transaction on Monday, April 1st. The shares were sold at an average price of $20.87, for a total value of $417,400.00. Following the transaction, the chief financial officer now owns 806,056 shares in the company, valued at approximately $16,822,388.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Ryan T. Gosney sold 4,000 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $24.00, for a total transaction of $96,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 166,882 shares of the company’s stock, valued at $4,005,168. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael Stock sold 20,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $20.87, for a total transaction of $417,400.00. Following the transaction, the chief financial officer now directly owns 806,056 shares of the company’s stock, valued at $16,822,388.72. The disclosure for this sale can be found here. Insiders have sold a total of 176,000 shares of company stock worth $3,980,900 in the last 90 days. 3.70% of the stock is owned by company insiders.

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.