Liberty Energy Inc. (NYSE:LBRT) Position Cut by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 4.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,115 shares of the company’s stock after selling 1,213 shares during the period. Mackenzie Financial Corp’s holdings in Liberty Energy were worth $608,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LBRT. EdgeRock Capital LLC acquired a new stake in shares of Liberty Energy in the 2nd quarter worth approximately $32,000. GAMMA Investing LLC lifted its position in Liberty Energy by 69.2% in the second quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock worth $36,000 after purchasing an additional 713 shares during the period. nVerses Capital LLC lifted its position in Liberty Energy by 45.0% in the second quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock worth $61,000 after purchasing an additional 900 shares during the period. PNC Financial Services Group Inc. boosted its stake in Liberty Energy by 27.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after purchasing an additional 709 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new position in shares of Liberty Energy during the 4th quarter valued at $63,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on LBRT shares. Barclays cut their price objective on Liberty Energy from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. TD Cowen lowered their price objective on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. Piper Sandler reduced their target price on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Citigroup dropped their price target on Liberty Energy from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Bank of America reduced their price objective on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Liberty Energy Price Performance

LBRT opened at $20.51 on Friday. The firm has a market capitalization of $3.42 billion, a P/E ratio of 7.49, a PEG ratio of 1.24 and a beta of 1.68. The stock has a fifty day moving average of $20.39 and a 200-day moving average of $21.38. The company has a quick ratio of 1.07, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. Liberty Energy Inc. has a 12-month low of $16.33 and a 12-month high of $24.75.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the business earned $0.87 EPS. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. Equities analysts forecast that Liberty Energy Inc. will post 2.18 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Friday, September 6th. Liberty Energy’s payout ratio is presently 10.22%.

Insider Buying and Selling at Liberty Energy

In other news, CFO Michael Stock sold 20,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $22.92, for a total transaction of $458,400.00. Following the transaction, the chief financial officer now directly owns 765,207 shares in the company, valued at $17,538,544.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders have sold 99,374 shares of company stock worth $2,037,548. 3.60% of the stock is currently owned by company insiders.

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.