Choreo LLC Reduces Position in Liberty Energy Inc. (NYSE:LBRT)

Choreo LLC reduced its stake in Liberty Energy Inc. (NYSE:LBRT) by 9.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,576 shares of the company’s stock after selling 2,736 shares during the quarter. Choreo LLC’s holdings in Liberty Energy were worth $503,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Covestor Ltd grew its stake in 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 acquiring an additional 838 shares during the period. Quarry LP lifted its stake 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 during the period. Blue Trust Inc. boosted its holdings in shares of Liberty Energy by 604.9% during the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the company’s stock worth $47,000 after purchasing an additional 2,111 shares during the last quarter. Spire Wealth Management purchased a new stake in shares of Liberty Energy in the fourth quarter valued at $60,000. Finally, GAMMA Investing LLC increased its stake in Liberty Energy by 82.1% in the third quarter. GAMMA Investing LLC now owns 3,174 shares of the company’s stock valued at $61,000 after purchasing an additional 1,431 shares during the last quarter. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on LBRT. Atb Cap Markets raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Seaport Res Ptn raised shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a research report on Sunday, January 5th. Evercore ISI raised shares of Liberty Energy to a “strong-buy” rating in a research report on Thursday, October 17th. Barclays cut their price target on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Finally, TD Cowen lowered their price objective on shares of Liberty Energy from $18.00 to $16.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Liberty Energy presently has an average rating of “Moderate Buy” and an average target price of $22.30.

Liberty Energy Stock Up 2.6 %

Shares of Liberty Energy stock opened at $17.75 on Wednesday. Liberty Energy Inc. has a twelve month low of $16.57 and a twelve month high of $24.75. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 9.49 and a beta of 1.63. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The company has a fifty day moving average price of $19.71 and a 200 day moving average price of $19.53.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Wednesday, January 29th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.06). Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. Equities research analysts forecast that Liberty Energy Inc. will post 0.62 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Thursday, March 6th. Liberty Energy’s dividend payout ratio (DPR) is 17.11%.

Insider Activity

In other news, CFO Michael Stock sold 20,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $20.82, for a total transaction of $416,400.00. Following the completion of the sale, the chief financial officer now directly owns 680,207 shares in the company, valued at $14,161,909.74. This trade represents a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher A. Wright sold 2,936 shares of Liberty Energy stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $19.16, for a total value of $56,253.76. Following the sale, the chief executive officer now directly owns 2,543,877 shares in the company, valued at approximately $48,740,683.32. The trade was a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,936 shares of company stock worth $1,341,184 over the last 90 days. Company insiders own 3.60% of the company’s stock.

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.