Park Avenue Securities LLC Lowers Stock Position in Liberty Energy Inc. (NYSE:LBRT)

Park Avenue Securities LLC decreased its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 2.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,686 shares of the company’s stock after selling 554 shares during the period. Park Avenue Securities LLC’s holdings in Liberty Energy were worth $574,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LBRT. EdgeRock Capital LLC purchased a new stake in Liberty Energy during the fourth quarter valued at approximately $27,000. Principal Securities Inc. acquired a new position in Liberty Energy during the 4th quarter valued at approximately $39,000. Quadrant Capital Group LLC increased its stake in Liberty Energy by 70.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock valued at $53,000 after purchasing an additional 1,206 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Liberty Energy by 27.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after purchasing an additional 709 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new position in Liberty Energy during the 4th quarter valued at approximately $63,000. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Liberty Energy Stock Performance

LBRT opened at $20.89 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.48 and a debt-to-equity ratio of 0.17. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 7.62, a PEG ratio of 1.03 and a beta of 1.82. Liberty Energy Inc. has a 52-week low of $13.11 and a 52-week high of $24.75. The firm’s fifty day simple moving average is $22.34 and its two-hundred day simple moving average is $20.77.

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

Liberty Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Thursday, June 6th. Liberty Energy’s payout ratio is 10.22%.

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, President Ron Gusek sold 50,000 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $22.99, for a total transaction of $1,149,500.00. Following the transaction, the president now directly owns 1,213,259 shares of the company’s stock, valued at $27,892,824.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Michael Stock sold 20,000 shares of the firm’s stock in a transaction dated 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 directly owns 806,056 shares of the company’s stock, valued at $16,822,388.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Ron Gusek sold 50,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $22.99, for a total transaction of $1,149,500.00. Following the completion of the transaction, the president now directly owns 1,213,259 shares in the company, valued at $27,892,824.41. The disclosure for this sale can be found here. Insiders have sold a total of 176,000 shares of company stock valued at $3,980,900 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on LBRT shares. TD Cowen upped their price target on shares of Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Bank of America increased their price objective on shares of Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. Royal Bank of Canada increased their price objective on shares of Liberty Energy from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Wells Fargo & Company increased their price objective on shares of Liberty Energy from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Finally, Citigroup upgraded shares of Liberty Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $24.00 to $32.00 in a research note on Wednesday, May 29th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.50.

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.