DekaBank Deutsche Girozentrale Decreases Stock Holdings in Liberty Energy Inc. (NYSE:LBRT)

DekaBank Deutsche Girozentrale cut its holdings in Liberty Energy Inc. (NYSE:LBRT) by 68.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,106 shares of the company’s stock after selling 24,142 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Liberty Energy were worth $231,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. EdgeRock Capital LLC bought a new stake in shares of Liberty Energy in the 2nd quarter valued at approximately $32,000. GAMMA Investing LLC raised its holdings in Liberty Energy by 69.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock valued at $36,000 after buying an additional 713 shares during the period. Principal Securities Inc. bought a new stake in Liberty Energy in the fourth quarter worth $39,000. Quadrant Capital Group LLC boosted its stake in Liberty Energy by 70.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock worth $53,000 after buying an additional 1,206 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in Liberty Energy by 27.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after acquiring an additional 709 shares during the last quarter. Institutional investors own 98.22% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on LBRT shares. Citigroup upgraded shares of Liberty Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $24.00 to $32.00 in a report on Wednesday, May 29th. Bank of America dropped their target price on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. TD Cowen reduced their price target on Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Friday, July 19th. Barclays dropped their price objective on Liberty Energy from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. Finally, Piper Sandler reduced their target price on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Four investment 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.com, Liberty Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.78.

Insider Activity

In related news, CFO Michael Stock sold 15,626 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $20.82, for a total value of $325,333.32. Following the completion of the transaction, the chief financial officer now owns 789,581 shares of the company’s stock, valued at $16,439,076.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $19.91, for a total value of $398,200.00. Following the sale, the chief executive officer now directly owns 2,678,813 shares in the company, valued at approximately $53,335,166.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the chief financial officer now directly owns 789,581 shares in the company, valued at approximately $16,439,076.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,000 shares of company stock worth $2,084,231. Corporate insiders own 3.60% of the company’s stock.

Liberty Energy Trading Down 0.7 %

Shares of NYSE LBRT opened at $20.94 on Friday. Liberty Energy Inc. has a twelve month low of $16.33 and a twelve month high of $24.75. The company has a quick ratio of 1.07, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. The business has a fifty day simple moving average of $20.79 and a two-hundred day simple moving average of $21.45. The firm has a market cap of $3.49 billion, a PE ratio of 7.64, a price-to-earnings-growth ratio of 1.11 and a beta of 1.69.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data on Wednesday, July 17th. The company reported $0.61 earnings per share for the quarter, beating 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 firm 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 earnings per share. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. Analysts expect that Liberty Energy Inc. will post 2.17 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a $0.07 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.34%. Liberty Energy’s payout ratio is presently 10.22%.

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.