Symmetry Investments LP Invests $1.07 Million in Liberty Energy Inc. (NYSE:LBRT)

Symmetry Investments LP acquired a new position in shares of Liberty Energy Inc. (NYSE:LBRT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 51,400 shares of the company’s stock, valued at approximately $1,074,000.

Other institutional investors have also modified their holdings of the company. Lord Abbett & CO. LLC purchased a new stake in Liberty Energy in the 1st quarter valued at $27,809,000. Hennessy Advisors Inc. purchased a new stake in Liberty Energy in the 4th quarter valued at $21,278,000. Norges Bank purchased a new stake in Liberty Energy in the 4th quarter valued at $13,877,000. American Century Companies Inc. raised its position in Liberty Energy by 17.6% in the 2nd quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock valued at $82,754,000 after purchasing an additional 594,051 shares during the last quarter. Finally, LSV Asset Management raised its position in Liberty Energy by 60.2% in the 1st quarter. LSV Asset Management now owns 1,437,041 shares of the company’s stock valued at $29,775,000 after purchasing an additional 539,861 shares during the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Analysts Set New Price Targets

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

Liberty Energy Stock Performance

NYSE:LBRT opened at $20.94 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. Liberty Energy Inc. has a fifty-two week low of $16.33 and a fifty-two week high of $24.75. The stock 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. The firm’s fifty day simple moving average is $20.79 and its 200-day simple moving average is $21.45.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.87 EPS. 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 disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.28 dividend on an annualized basis and a yield of 1.34%. Liberty Energy’s payout ratio is 10.22%.

Insider Activity at Liberty Energy

In related news, CFO Michael Stock sold 4,374 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $21.01, for a total value of $91,897.74. Following the sale, the chief financial officer now directly owns 785,207 shares of the company’s stock, valued at approximately $16,497,199.07. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Liberty Energy news, CFO Michael Stock sold 4,374 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $21.01, for a total value of $91,897.74. Following the transaction, the chief financial officer now directly owns 785,207 shares in the company, valued at approximately $16,497,199.07. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $20.26, for a total transaction of $405,200.00. Following the completion of the transaction, the chief executive officer now owns 2,758,813 shares in the company, valued at $55,893,551.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,000 shares of company stock valued at $2,084,231. Insiders own 3.60% of the company’s stock.

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.