Algert Global LLC Sells 107,792 Shares of Liberty Energy Inc. (NYSE:LBRT)

Algert Global LLC decreased its stake in shares of Liberty Energy Inc. (NYSE:LBRT) by 87.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,899 shares of the company’s stock after selling 107,792 shares during the quarter. Algert Global LLC’s holdings in Liberty Energy were worth $332,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Diversified Trust Co raised its position in Liberty Energy by 2.5% during the first quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock worth $427,000 after acquiring an additional 507 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Liberty Energy by 4.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 14,262 shares of the company’s stock valued at $296,000 after purchasing an additional 543 shares during the period. Perigon Wealth Management LLC lifted its stake in Liberty Energy by 2.4% in the 1st quarter. Perigon Wealth Management LLC now owns 24,815 shares of the company’s stock valued at $514,000 after purchasing an additional 571 shares during the last quarter. Andina Capital Management LLC grew its holdings in Liberty Energy by 3.9% during the second quarter. Andina Capital Management LLC now owns 18,599 shares of the company’s stock worth $389,000 after purchasing an additional 691 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in Liberty Energy by 27.7% during 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 last quarter. Institutional investors own 98.22% of the company’s stock.

Liberty Energy Stock Down 3.2 %

NYSE LBRT opened at $20.17 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 1.07 and a debt-to-equity ratio of 0.17. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 7.36, a PEG ratio of 1.24 and a beta of 1.68. The company has a 50 day moving average of $20.28 and a 200-day moving average of $21.38. Liberty Energy Inc. has a 1-year low of $16.69 and a 1-year high of $24.75.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The firm 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 company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.87 EPS. On average, equities research analysts expect that Liberty Energy Inc. will post 2.18 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The company also recently disclosed 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. 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 1.39%. Liberty Energy’s payout ratio is 10.22%.

Insider Buying and Selling at Liberty Energy

In other news, CFO Michael Stock sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $22.92, for a total transaction of $458,400.00. Following the completion of the sale, the chief financial officer now owns 765,207 shares of the company’s stock, valued at approximately $17,538,544.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 99,374 shares of company stock valued at $2,037,548 in the last ninety days. 3.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. TD Cowen reduced their target price 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. Barclays decreased their price objective on shares of Liberty Energy from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Piper Sandler cut their target price on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Citigroup decreased their price target on shares of Liberty Energy from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Finally, Bank of America cut 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 report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Liberty Energy has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

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.