GAMMA Investing LLC Sells 1,870 Shares of Liberty Energy Inc. (NYSE:LBRT)

GAMMA Investing LLC cut its stake in shares of Liberty Energy Inc. (NYSE:LBRT) by 58.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,304 shares of the company’s stock after selling 1,870 shares during the period. GAMMA Investing LLC’s holdings in Liberty Energy were worth $26,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in LBRT. Covestor Ltd increased its position in Liberty Energy by 96.8% during the third quarter. Covestor Ltd now owns 1,704 shares of the company’s stock worth $33,000 after acquiring an additional 838 shares during the period. Quarry LP grew its position in shares of Liberty Energy by 237.5% during the 3rd quarter. Quarry LP now owns 1,991 shares of the company’s stock worth $38,000 after purchasing an additional 1,401 shares in the last quarter. US Bancorp DE increased its holdings in shares of 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 purchasing an additional 2,016 shares during the period. KBC Group NV raised its position in shares of Liberty Energy by 24.8% in the third quarter. KBC Group NV now owns 4,906 shares of the company’s stock valued at $94,000 after buying an additional 974 shares in the last quarter. Finally, CWM LLC raised its position in shares of Liberty Energy by 56.5% in the third quarter. CWM LLC now owns 9,722 shares of the company’s stock valued at $186,000 after buying an additional 3,509 shares in the last quarter. Institutional investors own 98.22% of the company’s stock.

Analyst Ratings Changes

LBRT has been the topic of a number of recent research reports. 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 note on Wednesday, October 16th. Seaport Res Ptn raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Sunday, January 5th. Evercore ISI upgraded shares of Liberty Energy to a “strong-buy” rating in a research note on Thursday, October 17th. Atb Cap Markets raised shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Finally, Royal Bank of Canada cut their price target on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Liberty Energy has an average rating of “Moderate Buy” and an average price target of $22.20.

Insider Activity

In other Liberty Energy news, CEO Christopher A. Wright sold 2,936 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $19.16, for a total value of $56,253.76. Following the completion of the transaction, the chief executive officer now directly owns 2,543,877 shares in the company, valued at approximately $48,740,683.32. This represents a 0.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael Stock sold 5,000 shares of Liberty Energy stock in a transaction on Friday, November 1st. The stock was sold at an average price of $17.21, for a total transaction of $86,050.00. Following the transaction, the chief financial officer now owns 725,207 shares in the company, valued at approximately $12,480,812.47. This trade represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,973 shares of company stock worth $1,471,335. Insiders own 3.60% of the company’s stock.

Liberty Energy Trading Up 6.3 %

LBRT opened at $22.73 on Thursday. The company has a market cap of $3.71 billion, a P/E ratio of 10.82 and a beta of 1.66. 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 company’s 50 day moving average is $18.98 and its 200-day moving average is $19.70. Liberty Energy Inc. has a 1-year low of $16.57 and a 1-year high of $24.75.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The business’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 EPS. Equities research analysts predict that Liberty Energy Inc. will post 1.72 earnings per share for the current fiscal year.

About Liberty Energy

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.