Hsbc Holdings PLC Boosts Stake in Liberty Energy Inc. (NYSE:LBRT)

Hsbc Holdings PLC raised its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 13.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,994 shares of the company’s stock after acquiring an additional 9,137 shares during the period. Hsbc Holdings PLC’s holdings in Liberty Energy were worth $1,657,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LBRT. EdgeRock Capital LLC purchased a new stake in shares of Liberty Energy in the second quarter worth about $32,000. GAMMA Investing LLC boosted its position in shares of Liberty Energy by 69.2% in the second quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock worth $36,000 after buying an additional 713 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Liberty Energy by 27.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock worth $59,000 after buying an additional 709 shares during the period. nVerses Capital LLC boosted its position in shares of Liberty Energy by 45.0% in the second quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock worth $61,000 after buying an additional 900 shares during the period. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of Liberty Energy in the fourth quarter worth about $63,000. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Wall Street Analyst Weigh In

LBRT has been the subject of several analyst reports. TD Cowen decreased their target price on Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research report on Friday, July 19th. Piper Sandler cut their price objective 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. Bank of America dropped their price target on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. 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 five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $24.78.

Liberty Energy Stock Up 1.6 %

LBRT opened at $18.98 on Friday. Liberty Energy Inc. has a 12 month low of $16.33 and a 12 month high of $24.75. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 1.07. The stock has a market cap of $3.16 billion, a P/E ratio of 6.93, a P/E/G ratio of 1.24 and a beta of 1.68. The stock’s 50 day moving average price is $20.58 and its 200 day moving average price is $21.39.

Liberty Energy (NYSE:LBRT) last posted its 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 firm had revenue of $1.16 billion for 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 revenue was down 2.9% compared to the same quarter last year. During the same period last year, the firm earned $0.87 EPS. As a group, research analysts predict that Liberty Energy Inc. will post 2.18 earnings per share for the current year.

Liberty Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Friday, September 6th. Liberty Energy’s payout ratio is currently 10.22%.

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, CFO Michael Stock sold 15,626 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $16,439,076.42. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Liberty Energy news, CFO Michael Stock sold 15,626 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $16,439,076.42. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was 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 of the company’s stock, valued at $53,335,166.83. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,000 shares of company stock valued at $2,084,231. 3.60% of the stock is owned by corporate insiders.

About Liberty Energy

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.