Liberty Energy Inc. (NYSE:LBRT) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its stake in shares of Liberty Energy Inc. (NYSE:LBRT) by 34.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,498,921 shares of the company’s stock after acquiring an additional 381,841 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.90% of Liberty Energy worth $31,312,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LBRT shares. TD Cowen lowered their price objective on Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Friday, July 19th. Bank of America decreased their price target on shares of 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 price target on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Finally, Barclays cut their price objective on 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $24.78.

Liberty Energy Stock Performance

LBRT stock opened at $19.05 on Tuesday. The company has a 50-day simple moving average of $20.58 and a 200 day simple moving average of $21.40. The company has a market capitalization of $3.17 billion, a P/E ratio of 6.95, a PEG ratio of 1.24 and a beta of 1.68. 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.

Liberty Energy (NYSE:LBRT) last posted 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. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business earned $0.87 earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. Sell-side analysts predict that Liberty Energy Inc. will post 2.18 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. Stockholders of record on Friday, September 6th were given a dividend of $0.07 per share. The ex-dividend date was Friday, September 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.47%. Liberty Energy’s dividend payout ratio (DPR) is 10.22%.

Insider Transactions at Liberty Energy

In related news, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $19.91, for a total transaction of $398,200.00. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Michael Stock sold 15,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $20.01, for a total value of $300,150.00. Following the completion of the transaction, the chief financial officer now owns 750,207 shares in the company, valued at approximately $15,011,642.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction dated 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 owns 2,678,813 shares in the company, valued at approximately $53,335,166.83. The disclosure for this sale can be found here. Insiders have sold 64,374 shares of company stock valued at $1,353,698 in the last quarter. 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.