Liberty Energy Inc. (NYSE:LBRT) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 7.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 333,635 shares of the company’s stock after purchasing an additional 22,730 shares during the period. Public Sector Pension Investment Board owned approximately 0.20% of Liberty Energy worth $6,970,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. EdgeRock Capital LLC bought a new position in shares of Liberty Energy in the second quarter valued at $32,000. GAMMA Investing LLC lifted its holdings in shares of Liberty Energy by 69.2% during the second quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock valued at $36,000 after purchasing an additional 713 shares during the last quarter. nVerses Capital LLC lifted its holdings in shares of Liberty Energy by 45.0% during the second quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock valued at $61,000 after purchasing an additional 900 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Liberty Energy by 27.7% in 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 during the period. Finally, Lindbrook Capital LLC increased its stake in Liberty Energy by 54.6% in the 1st quarter. Lindbrook Capital LLC now owns 3,393 shares of the company’s stock worth $70,000 after purchasing an additional 1,199 shares in the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LBRT has been the subject of a number of analyst reports. Bank of America reduced their price objective on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. TD Cowen decreased their price objective on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Friday, July 19th. Piper Sandler cut their target price 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. 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 report on Wednesday, May 29th. Finally, Barclays dropped their price target 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. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.78.

Insider Activity at Liberty Energy

In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $20.26, for a total transaction of $405,200.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $20.26, for a total transaction of $405,200.00. Following the completion of the sale, the chief executive officer now owns 2,758,813 shares of the company’s stock, valued at $55,893,551.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Stock sold 4,374 shares of the stock in a transaction that occurred on 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 owns 785,207 shares in the company, valued at approximately $16,497,199.07. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,000 shares of company stock valued at $2,084,231. Insiders own 3.60% of the company’s stock.

Liberty Energy Price Performance

LBRT opened at $20.66 on Wednesday. The stock has a fifty day moving average price of $20.75 and a 200 day moving average price of $21.44. 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 1 year low of $16.33 and a 1 year high of $24.75. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 7.54, a PEG ratio of 1.11 and a beta of 1.68.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $0.61 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 analysts’ expectations of $1.16 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.87 EPS. Analysts forecast that Liberty Energy Inc. will post 2.17 EPS 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 issued a dividend of $0.07 per share. The ex-dividend date was Friday, September 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.36%. Liberty Energy’s dividend payout ratio is currently 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.