Liberty Energy Inc. (NYSE:LBRT) Position Lessened by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its stake in shares of Liberty Energy Inc. (NYSE:LBRT) by 9.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,476 shares of the company’s stock after selling 8,354 shares during the quarter. Corebridge Financial Inc. owned about 0.05% of Liberty Energy worth $1,680,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in LBRT. State Street Corp increased its position in Liberty Energy by 2.7% in the 3rd quarter. State Street Corp now owns 6,662,830 shares of the company’s stock valued at $127,193,000 after acquiring an additional 176,887 shares during the period. American Century Companies Inc. increased its holdings in shares of Liberty Energy by 10.8% during the fourth quarter. American Century Companies Inc. now owns 5,178,089 shares of the company’s stock valued at $102,992,000 after purchasing an additional 505,634 shares during the period. Geode Capital Management LLC raised its stake in shares of Liberty Energy by 5.8% during the third quarter. Geode Capital Management LLC now owns 3,779,906 shares of the company’s stock valued at $72,173,000 after purchasing an additional 207,527 shares in the last quarter. JPMorgan Chase & Co. grew its position in Liberty Energy by 61.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,146,179 shares of the company’s stock valued at $60,061,000 after buying an additional 1,193,918 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Liberty Energy by 2.4% in the 3rd quarter. Franklin Resources Inc. now owns 2,631,360 shares of the company’s stock valued at $53,706,000 after buying an additional 61,909 shares in the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

Liberty Energy Stock Up 1.5 %

LBRT stock opened at $16.09 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.27 and a quick ratio of 0.97. The firm has a market capitalization of $2.61 billion, a P/E ratio of 8.60 and a beta of 1.58. Liberty Energy Inc. has a 52-week low of $13.86 and a 52-week high of $24.75. The company’s 50 day simple moving average is $16.88 and its 200-day simple moving average is $18.42.

Liberty Energy (NYSE:LBRT) last released its earnings results on Wednesday, January 29th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Liberty Energy had a net margin of 7.32% and a return on equity of 14.28%. As a group, equities research analysts anticipate that Liberty Energy Inc. will post 0.58 EPS for the current year.

Liberty Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, March 6th. This represents a $0.32 dividend on an annualized basis and a yield of 1.99%. Liberty Energy’s payout ratio is presently 17.11%.

Insider Buying and Selling at Liberty Energy

In other news, CFO Michael Stock sold 5,000 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $23.00, for a total transaction of $115,000.00. Following the transaction, the chief financial officer now directly owns 675,207 shares in the company, valued at $15,529,761. The trade was a 0.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LBRT. The Goldman Sachs Group initiated coverage on shares of Liberty Energy in a research note on Friday, December 13th. They issued a “neutral” rating and a $19.00 price target for the company. Stifel Nicolaus increased their price target on Liberty Energy from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Seaport Res Ptn raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Sunday, January 5th. Atb Cap Markets raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company lowered their target price on Liberty Energy from $24.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Liberty Energy presently has an average rating of “Moderate Buy” and a consensus target price of $21.90.

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.