Epoch Investment Partners Inc. Cuts Position in Liberty Energy Inc. (NYSE:LBRT)

Epoch Investment Partners Inc. decreased its stake in Liberty Energy Inc. (NYSE:LBRT) by 81.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 123,691 shares of the company’s stock after selling 554,641 shares during the period. Epoch Investment Partners Inc. owned approximately 0.07% of Liberty Energy worth $2,584,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LBRT. Lord Abbett & CO. LLC acquired a new position in Liberty Energy during the first quarter worth about $27,809,000. Hennessy Advisors Inc. purchased a new stake in Liberty Energy in the 4th quarter valued at approximately $21,278,000. Norges Bank acquired a new stake in Liberty Energy during the 4th quarter valued at $13,877,000. American Century Companies Inc. increased its position in Liberty Energy by 17.6% during the second quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock worth $82,754,000 after buying an additional 594,051 shares in the last quarter. Finally, LSV Asset Management boosted its stake in shares of Liberty Energy by 60.2% during the first quarter. LSV Asset Management now owns 1,437,041 shares of the company’s stock valued at $29,775,000 after acquiring an additional 539,861 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. TD Cowen cut their target price on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Friday, July 19th. Barclays reduced their price objective on shares of Liberty Energy from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Citigroup raised shares of Liberty Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $24.00 to $32.00 in a research note on Wednesday, May 29th. Bank of America cut their price target on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Finally, Piper Sandler decreased their price objective on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $24.78.

Insider Buying and Selling at Liberty Energy

In other news, CFO Michael Stock sold 15,626 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $20.82, for a total value of $325,333.32. Following the transaction, the chief financial officer now owns 789,581 shares of the company’s stock, valued at approximately $16,439,076.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Michael Stock sold 15,626 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $20.82, for a total value of $325,333.32. Following the completion of the sale, the chief financial officer now owns 789,581 shares in the company, valued at $16,439,076.42. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $19.91, for a total value of $398,200.00. Following the transaction, the chief executive officer now directly owns 2,678,813 shares in the company, valued at $53,335,166.83. The disclosure for this sale can be found here. Insiders have sold a total of 100,000 shares of company stock valued at $2,084,231 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Liberty Energy Stock Up 0.9 %

Shares of LBRT opened at $21.10 on Tuesday. The firm has a market cap of $3.52 billion, a PE ratio of 7.70, a price-to-earnings-growth ratio of 1.11 and a beta of 1.68. The company has a quick ratio of 1.07, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. The company’s fifty day moving average is $20.78 and its two-hundred day moving average is $21.44. Liberty Energy Inc. has a fifty-two week low of $16.33 and a fifty-two week high of $24.75.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.87 earnings per share. Analysts forecast that Liberty Energy Inc. will post 2.17 earnings per share for the current year.

Liberty Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.28 annualized dividend and a yield of 1.33%. Liberty Energy’s payout ratio is 10.22%.

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.