BNP Paribas Financial Markets Buys 17,901 Shares of Liberty Energy Inc. (NYSE:LBRT)

BNP Paribas Financial Markets raised its holdings in Liberty Energy Inc. (NYSE:LBRT) by 21.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 100,545 shares of the company’s stock after acquiring an additional 17,901 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.06% of Liberty Energy worth $1,919,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EdgeRock Capital LLC purchased a new stake in shares of Liberty Energy during the 2nd quarter worth approximately $32,000. Covestor Ltd lifted its position in shares of Liberty Energy by 96.8% in the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company’s stock worth $33,000 after purchasing an additional 838 shares during the period. GAMMA Investing LLC lifted its stake in shares of Liberty Energy by 69.2% in the 2nd 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 period. nVerses Capital LLC boosted its holdings in 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 acquiring an additional 900 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Liberty Energy by 93.2% during the 3rd quarter. US Bancorp DE now owns 4,180 shares of the company’s stock valued at $80,000 after acquiring an additional 2,016 shares during the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Michael Stock sold 10,000 shares of Liberty Energy stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $18.49, for a total transaction of $184,900.00. Following the completion of the sale, the chief financial officer now directly owns 705,207 shares in the company, valued at approximately $13,039,277.43. This trade represents a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher A. Wright sold 16,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $18.23, for a total transaction of $291,680.00. Following the sale, the chief executive officer now directly owns 2,562,813 shares of the company’s stock, valued at $46,720,080.99. This represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,037 shares of company stock valued at $2,088,232. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Royal Bank of Canada decreased their price target on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Atb Cap Markets downgraded shares of Liberty Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Evercore ISI upgraded Liberty Energy to a “strong-buy” rating in a research report on Thursday, October 17th. Barclays lowered their target price on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Stifel Nicolaus reduced their price target on shares of Liberty Energy from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.89.

Liberty Energy Trading Down 6.0 %

LBRT opened at $17.23 on Friday. Liberty Energy Inc. has a 12 month low of $16.57 and a 12 month high of $24.75. The company has a current ratio of 1.23, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average of $18.43 and a 200 day moving average of $20.17. The firm has a market cap of $2.82 billion, a P/E ratio of 8.20 and a beta of 1.71.

Liberty Energy (NYSE:LBRT) last released its earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.10). The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.85 EPS. As a group, research analysts forecast that Liberty Energy Inc. will post 1.75 EPS for the current year.

Liberty Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Friday, December 6th. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07. Liberty Energy’s dividend payout ratio (DPR) is 13.33%.

Liberty Energy 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.