GAMMA Investing LLC Increases Stock Position in Liberty Energy Inc. (NYSE:LBRT)

GAMMA Investing LLC raised its holdings in Liberty Energy Inc. (NYSE:LBRT) by 82.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,174 shares of the company’s stock after purchasing an additional 1,431 shares during the period. GAMMA Investing LLC’s holdings in Liberty Energy were worth $61,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of LBRT. American Century Companies Inc. lifted its stake in shares of Liberty Energy by 17.6% during the second quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock valued at $82,754,000 after buying an additional 594,051 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Liberty Energy by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 2,634,256 shares of the company’s stock valued at $55,030,000 after buying an additional 67,362 shares during the period. Hennessy Advisors Inc. lifted its stake in shares of Liberty Energy by 48.0% during the second quarter. Hennessy Advisors Inc. now owns 1,981,100 shares of the company’s stock valued at $41,385,000 after buying an additional 642,700 shares during the period. LSV Asset Management lifted its stake in shares of Liberty Energy by 19.5% during the second quarter. LSV Asset Management now owns 1,717,591 shares of the company’s stock valued at $35,880,000 after buying an additional 280,550 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Liberty Energy by 34.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,498,921 shares of the company’s stock valued at $31,312,000 after buying an additional 381,841 shares during the period. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on LBRT shares. Barclays reduced their price objective 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. Citigroup reduced their price objective on shares of Liberty Energy from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Stifel Nicolaus cut their price target on shares of Liberty Energy from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Piper Sandler cut their price target on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Finally, Bank of America cut their price target on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $24.00.

Insider Transactions at Liberty Energy

In other news, CFO Michael Stock sold 20,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $22.92, for a total value of $458,400.00. Following the completion of the sale, the chief financial officer now owns 765,207 shares of the company’s stock, valued at $17,538,544.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 95,000 shares of company stock valued at $1,945,650 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Liberty Energy Price Performance

Liberty Energy stock opened at $20.06 on Thursday. Liberty Energy Inc. has a 52-week low of $16.69 and a 52-week high of $24.75. The firm has a fifty day moving average of $20.13 and a 200-day moving average of $21.37. The firm has a market capitalization of $3.34 billion, a P/E ratio of 7.32, a PEG ratio of 1.20 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.

Liberty Energy (NYSE:LBRT) last released 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 net margin of 9.53% and a return on equity of 22.85%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the business earned $0.87 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, analysts predict that Liberty Energy Inc. will post 2.14 EPS for the current year.

Liberty Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.08 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.32 annualized dividend and a dividend yield of 1.60%. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07. Liberty Energy’s dividend payout ratio is presently 10.22%.

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.