SG Americas Securities LLC Sells 71,216 Shares of Liberty Energy Inc. (NYSE:LBRT)

SG Americas Securities LLC decreased its stake in shares of Liberty Energy Inc. (NYSE:LBRT) by 86.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,771 shares of the company’s stock after selling 71,216 shares during the period. SG Americas Securities LLC’s holdings in Liberty Energy were worth $206,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of LBRT. PNC Financial Services Group Inc. boosted its stake in shares of 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. Hennessy Advisors Inc. lifted its position in Liberty Energy by 14.1% during the 1st quarter. Hennessy Advisors Inc. now owns 1,338,400 shares of the company’s stock valued at $27,732,000 after acquiring an additional 165,400 shares during the period. Diversified Trust Co lifted its position in Liberty Energy by 2.5% during the 1st quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock valued at $427,000 after acquiring an additional 507 shares during the period. AlphaMark Advisors LLC purchased a new position in Liberty Energy during the 1st quarter valued at about $348,000. Finally, Edge Financial Advisors LLC purchased a new position in Liberty Energy during the 1st quarter valued at about $253,000. Institutional investors own 98.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LBRT. Citigroup cut shares of Liberty Energy from a “buy” rating to a “neutral” rating and lowered their price target for the company from $25.00 to $19.00 in a research report on Friday, October 18th. TD Cowen decreased their target price on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a report on Friday, July 19th. Atb Cap Markets cut shares of Liberty Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Royal Bank of Canada decreased their target price on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Finally, Bank of America decreased their target price on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.70.

Liberty Energy Stock Performance

Shares of NYSE LBRT opened at $17.29 on Wednesday. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 6.31, a price-to-earnings-growth ratio of 1.20 and a beta of 1.68. Liberty Energy Inc. has a 12-month low of $16.69 and a 12-month high of $24.75. The firm has a 50 day moving average of $19.90 and a 200 day moving average of $21.23. The company has a current ratio of 1.35, a quick ratio of 1.07 and a debt-to-equity ratio of 0.17.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.85 earnings per share. On average, research analysts anticipate that Liberty Energy Inc. will post 2.14 earnings per share for the current year.

Liberty Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Friday, December 6th. This is an increase from Liberty Energy’s previous quarterly dividend of $0.07. Liberty Energy’s payout ratio is 11.68%.

Insider Transactions 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 value of $458,400.00. Following the transaction, the chief financial officer now owns 765,207 shares of the company’s stock, valued at approximately $17,538,544.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 95,000 shares of company stock valued at $1,945,650. 3.60% of the stock is currently owned by corporate insiders.

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.