Liberty Energy Inc. (NYSE:LBRT) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its holdings in Liberty Energy Inc. (NYSE:LBRT) by 61.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,146,179 shares of the company’s stock after purchasing an additional 1,193,918 shares during the quarter. JPMorgan Chase & Co. owned 1.93% of Liberty Energy worth $60,061,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of LBRT. Covestor Ltd lifted its position in Liberty Energy by 96.8% in the third 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. Quarry LP lifted its holdings in shares of Liberty Energy by 237.5% in the third quarter. Quarry LP now owns 1,991 shares of the company’s stock valued at $38,000 after buying an additional 1,401 shares during the period. GAMMA Investing LLC boosted its stake in Liberty Energy by 82.1% during the third quarter. GAMMA Investing LLC now owns 3,174 shares of the company’s stock valued at $61,000 after buying an additional 1,431 shares in the last quarter. US Bancorp DE grew its holdings in Liberty Energy by 93.2% during the third quarter. US Bancorp DE now owns 4,180 shares of the company’s stock worth $80,000 after acquiring an additional 2,016 shares during the period. Finally, KBC Group NV raised its position in Liberty Energy by 24.8% in the third quarter. KBC Group NV now owns 4,906 shares of the company’s stock worth $94,000 after acquiring an additional 974 shares in the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Liberty Energy

In related news, CFO Michael Stock sold 20,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $20.82, for a total value of $416,400.00. Following the transaction, the chief financial officer now owns 680,207 shares in the company, valued at approximately $14,161,909.74. This represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher A. Wright sold 16,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 2,562,813 shares in the company, valued at approximately $46,720,080.99. The trade was a 0.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,973 shares of company stock valued at $1,471,335. 3.70% of the stock is owned by insiders.

Liberty Energy Stock Up 0.9 %

Shares of Liberty Energy stock opened at $20.89 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. Liberty Energy Inc. has a 1 year low of $16.57 and a 1 year high of $24.75. The stock has a 50-day moving average price of $18.32 and a 200 day moving average price of $19.64. The company has a market cap of $3.41 billion, a P/E ratio of 9.95 and a beta of 1.71.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 EPS 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 analyst estimates of $1.14 billion. Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 earnings per share. As a group, analysts expect that Liberty Energy Inc. will post 1.72 EPS for the current fiscal year.

Liberty Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.08 per share. This is a boost from Liberty Energy’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Friday, December 6th. Liberty Energy’s payout ratio is currently 15.24%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Citigroup lowered shares of Liberty Energy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $25.00 to $19.00 in a research report on Friday, October 18th. Atb Cap Markets upgraded Liberty Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group began coverage on Liberty Energy in a research report on Friday, December 13th. They set a “neutral” rating and a $19.00 target price on the stock. Finally, Evercore ISI upgraded Liberty Energy to a “strong-buy” rating in a research report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.50.

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.