Edgestream Partners L.P. Lowers Stock Holdings in Liberty Energy Inc. (NYSE:LBRT)

Edgestream Partners L.P. decreased its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 52.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,750 shares of the company’s stock after selling 17,548 shares during the period. Edgestream Partners L.P.’s holdings in Liberty Energy were worth $329,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LBRT. Principal Securities Inc. purchased a new stake in Liberty Energy during the fourth quarter valued at about $39,000. BNP Paribas Financial Markets increased its holdings in shares of Liberty Energy by 58.4% in the fourth quarter. BNP Paribas Financial Markets now owns 56,815 shares of the company’s stock worth $1,031,000 after buying an additional 20,939 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of Liberty Energy by 70.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock worth $53,000 after buying an additional 1,206 shares during the period. Norges Bank purchased a new position in shares of Liberty Energy in the fourth quarter worth about $13,877,000. Finally, United Services Automobile Association purchased a new position in shares of Liberty Energy in the fourth quarter worth about $201,000. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Insider Buying and Selling at Liberty Energy

In other news, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $20.26, for a total value of $405,200.00. Following the sale, the chief executive officer now directly owns 2,758,813 shares of the company’s stock, valued at approximately $55,893,551.38. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Michael Stock sold 4,374 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $21.01, for a total value of $91,897.74. Following the sale, the chief financial officer now directly owns 785,207 shares of the company’s stock, valued at approximately $16,497,199.07. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $20.26, for a total value of $405,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,758,813 shares in the company, valued at $55,893,551.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,000 shares of company stock valued at $2,084,231. 3.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

LBRT has been the topic of several analyst reports. 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. TD Cowen decreased their price objective on Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Friday, July 19th. Bank of America decreased their price objective on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Citigroup upgraded Liberty Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $24.00 to $32.00 in a report on Wednesday, May 29th. Finally, Barclays cut their target price on Liberty Energy from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.78.

Liberty Energy Stock Performance

Liberty Energy stock opened at $21.10 on Tuesday. The stock’s 50 day simple moving average is $20.78 and its two-hundred day simple moving average is $21.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 7.70, a PEG ratio of 1.11 and a beta of 1.68. 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 data on Wednesday, July 17th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 EPS. As a group, analysts expect that Liberty Energy Inc. will post 2.17 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a dividend of $0.07 per share. 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.