Cetera Investment Advisers Purchases 3,132 Shares of Liberty Energy Inc. (NYSE:LBRT)

Cetera Investment Advisers increased its position in Liberty Energy Inc. (NYSE:LBRT) by 6.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,948 shares of the company’s stock after acquiring an additional 3,132 shares during the period. Cetera Investment Advisers’ holdings in Liberty Energy were worth $1,106,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Foundry Partners LLC grew its holdings in Liberty Energy by 15.6% during the first quarter. Foundry Partners LLC now owns 209,056 shares of the company’s stock valued at $4,332,000 after purchasing an additional 28,153 shares during the period. Russell Investments Group Ltd. grew its holdings in Liberty Energy by 114.2% during the first quarter. Russell Investments Group Ltd. now owns 174,265 shares of the company’s stock valued at $3,611,000 after purchasing an additional 92,923 shares during the period. Hennessy Advisors Inc. grew its holdings in Liberty Energy by 14.1% during the first quarter. Hennessy Advisors Inc. now owns 1,338,400 shares of the company’s stock valued at $27,732,000 after purchasing an additional 165,400 shares during the period. LSV Asset Management grew its holdings in Liberty Energy by 60.2% during the first 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 period. Finally, Edgestream Partners L.P. bought a new stake in Liberty Energy during the first quarter valued at about $690,000. Institutional investors own 98.22% of the company’s stock.

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, CFO Michael Stock sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $21.01, for a total transaction of $105,050.00. Following the sale, the chief financial officer now directly owns 745,207 shares in the company, valued at $15,656,799.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $19.77, for a total transaction of $395,400.00. Following the transaction, the chief executive officer now owns 2,638,813 shares of the company’s stock, valued at approximately $52,169,333.01. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michael Stock sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $21.01, for a total value of $105,050.00. Following the transaction, the chief financial officer now directly owns 745,207 shares in the company, valued at approximately $15,656,799.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,000 shares of company stock worth $1,945,650 over the last ninety days. Company insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

LBRT has been the topic of several research analyst reports. Stifel Nicolaus lowered their price objective on Liberty Energy from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Barclays lowered their price objective on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Wednesday. TD Cowen lowered their price objective on Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday, July 19th. Piper Sandler lowered their price objective on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Finally, Citigroup lowered their price objective on Liberty Energy from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Liberty Energy Price Performance

NYSE:LBRT opened at $20.06 on Thursday. 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 capitalization of $3.34 billion, a P/E ratio of 7.32, a P/E/G ratio of 1.20 and a beta of 1.68. Liberty Energy Inc. has a 12 month low of $16.69 and a 12 month high of $24.75. The business’s 50-day moving average is $20.13 and its 200 day moving average is $21.37.

Liberty Energy (NYSE:LBRT) last posted its earnings results on Wednesday, July 17th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business earned $0.87 earnings per share. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities research analysts forecast that Liberty Energy Inc. will post 2.14 earnings per share for the current fiscal year.

Liberty Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, December 6th. This is an increase from Liberty Energy’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a yield of 1.60%. Liberty Energy’s dividend payout ratio is 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.