Choreo LLC Buys Shares of 23,719 Liberty Energy Inc. (NYSE:LBRT)

Choreo LLC bought a new stake in Liberty Energy Inc. (NYSE:LBRT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,719 shares of the company’s stock, valued at approximately $481,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Diversified Trust Co raised its position in shares of Liberty Energy by 2.5% during the first quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock worth $427,000 after purchasing an additional 507 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of Liberty Energy by 4.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 14,262 shares of the company’s stock worth $296,000 after purchasing an additional 543 shares during the period. Perigon Wealth Management LLC raised its position in shares of Liberty Energy by 2.4% during the first quarter. Perigon Wealth Management LLC now owns 24,815 shares of the company’s stock worth $514,000 after purchasing an additional 571 shares during the period. Andina Capital Management LLC raised its position in shares of Liberty Energy by 3.9% during the second quarter. Andina Capital Management LLC now owns 18,599 shares of the company’s stock worth $389,000 after purchasing an additional 691 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of Liberty Energy by 27.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock worth $59,000 after purchasing an additional 709 shares during the period. Institutional investors and hedge funds own 98.22% of the company’s stock.

Liberty Energy Stock Performance

Shares of NYSE LBRT opened at $19.36 on Monday. The company has a current ratio of 1.35, a quick ratio of 1.07 and a debt-to-equity ratio of 0.17. Liberty Energy Inc. has a 12 month low of $16.33 and a 12 month high of $24.75. The stock has a 50 day moving average of $20.77 and a 200-day moving average of $21.47. The company has a market capitalization of $3.20 billion, a P/E ratio of 7.07, a P/E/G ratio of 1.11 and a beta of 1.68.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Wednesday, July 17th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the company posted $0.87 EPS. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities research analysts predict that Liberty Energy Inc. will post 2.17 EPS for the current year.

Liberty Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.28 annualized dividend and a yield of 1.45%. Liberty Energy’s payout ratio is currently 10.22%.

Insider Buying and Selling

In related news, CFO Michael Stock sold 15,626 shares of Liberty Energy stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $20.82, for a total transaction of $325,333.32. Following the completion of the sale, the chief financial officer now directly owns 789,581 shares of the company’s stock, valued at approximately $16,439,076.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Michael Stock sold 15,626 shares of Liberty Energy stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $20.82, for a total transaction of $325,333.32. Following the completion of the sale, the chief financial officer now directly owns 789,581 shares of the company’s stock, valued at approximately $16,439,076.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $20.26, for a total value of $405,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,758,813 shares of the company’s stock, valued at $55,893,551.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,000 shares of company stock valued at $1,580,981. Insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LBRT. Citigroup raised Liberty Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $24.00 to $32.00 in a research report on Wednesday, May 29th. Barclays dropped their target price on Liberty Energy from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd. Bank of America decreased their price target on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Piper Sandler decreased their price target on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, TD Cowen decreased their price target on Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Friday, July 19th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $24.78.

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.