First Eagle Investment Management LLC Purchases 160,900 Shares of Liberty Energy Inc. (NYSE:LBRT)

First Eagle Investment Management LLC boosted its holdings in Liberty Energy Inc. (NYSE:LBRT) by 144.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 272,467 shares of the company’s stock after buying an additional 160,900 shares during the quarter. First Eagle Investment Management LLC owned approximately 0.16% of Liberty Energy worth $5,692,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. EdgeRock Capital LLC bought a new stake in shares of Liberty Energy in the 2nd quarter valued at about $32,000. GAMMA Investing LLC boosted its holdings in Liberty Energy by 69.2% in the second quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock valued at $36,000 after acquiring an additional 713 shares during the last quarter. Principal Securities Inc. acquired a new stake in Liberty Energy during the 4th quarter valued at approximately $39,000. nVerses Capital LLC raised its holdings in Liberty Energy by 45.0% during the 2nd quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock worth $61,000 after purchasing an additional 900 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of Liberty Energy by 70.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock worth $53,000 after purchasing an additional 1,206 shares during the period. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Liberty Energy news, CFO Michael Stock sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $21.01, for a total transaction of $105,050.00. Following the completion of the sale, the chief financial officer now directly owns 745,207 shares of the company’s stock, valued at approximately $15,656,799.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Christopher A. Wright sold 20,000 shares of the 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 completion of the sale, the chief executive officer now owns 2,678,813 shares in the company, valued at $53,335,166.83. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michael Stock sold 5,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $21.01, for a total transaction of $105,050.00. Following the transaction, the chief financial officer now owns 745,207 shares in the company, valued at $15,656,799.07. The disclosure for this sale can be found here. Insiders have sold 100,000 shares of company stock worth $2,084,231 in the last quarter. Insiders own 3.60% of the company’s stock.

Liberty Energy Stock Down 0.7 %

Shares of NYSE:LBRT opened at $20.94 on Friday. The firm has a market cap of $3.49 billion, a P/E ratio of 7.64, a PEG ratio of 1.11 and a beta of 1.69. Liberty Energy Inc. has a 52-week low of $16.33 and a 52-week high of $24.75. The business’s 50 day simple moving average is $20.79 and its two-hundred day simple moving average is $21.45. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35.

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

Liberty Energy Dividend Announcement

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

Analysts Set New Price Targets

LBRT has been the subject of several recent analyst reports. Barclays decreased their price objective on shares of Liberty Energy from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Bank of America lowered their price objective 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. Piper Sandler cut their target price on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Citigroup raised 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 research note on Wednesday, May 29th. Finally, TD Cowen dropped their price target on Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.