State of New Jersey Common Pension Fund D Has $1.81 Million Stock Position in Liberty Energy Inc. (NYSE:LBRT)

State of New Jersey Common Pension Fund D lifted its holdings in Liberty Energy Inc. (NYSE:LBRT) by 20.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,953 shares of the company’s stock after purchasing an additional 15,810 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of Liberty Energy worth $1,813,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of LBRT. EdgeRock Capital LLC bought a new stake in shares of Liberty Energy during the 2nd quarter worth about $32,000. Covestor Ltd lifted its holdings in Liberty Energy by 96.8% in the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company’s stock worth $33,000 after purchasing an additional 838 shares during the last quarter. GAMMA Investing LLC boosted its position in Liberty Energy by 69.2% during 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 grew its holdings in Liberty Energy by 45.0% during the second quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock valued at $61,000 after purchasing an additional 900 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of Liberty Energy by 93.2% in the third quarter. US Bancorp DE now owns 4,180 shares of the company’s stock valued at $80,000 after purchasing an additional 2,016 shares during the period. 98.22% of the stock is currently owned by institutional investors.

Liberty Energy Trading Up 4.9 %

Shares of Liberty Energy stock opened at $17.73 on Tuesday. Liberty Energy Inc. has a 52-week low of $16.57 and a 52-week high of $24.75. The firm has a market capitalization of $2.90 billion, a PE ratio of 8.44 and a beta of 1.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.97. The company’s fifty day moving average price is $18.93 and its two-hundred day moving average price is $20.63.

Liberty Energy (NYSE:LBRT) last announced 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 company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The business’s revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the company earned $0.85 earnings per share. On average, analysts expect that Liberty Energy Inc. will post 1.75 EPS for the current year.

Liberty Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.08 per share. This is an increase from Liberty Energy’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Friday, December 6th. Liberty Energy’s dividend payout ratio (DPR) is currently 15.24%.

Wall Street Analysts Forecast Growth

LBRT has been the subject of several recent analyst reports. Citigroup downgraded shares of Liberty Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $25.00 to $19.00 in a report on Friday, October 18th. Royal Bank of Canada lowered their price target on Liberty Energy from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Evercore ISI raised Liberty Energy to a “strong-buy” rating in a research report on Thursday, October 17th. Barclays lowered their target price on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Wells Fargo & Company cut their price target on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.89.

Insiders Place Their Bets

In other Liberty Energy news, CFO Michael Stock sold 5,000 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $21.01, for a total transaction of $105,050.00. Following the sale, the chief financial officer now owns 745,207 shares of the company’s stock, valued at $15,656,799.07. This represents a 0.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher A. Wright sold 2,037 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $18.15, for a total transaction of $36,971.55. Following the completion of the transaction, the chief executive officer now directly owns 2,578,813 shares of the company’s stock, valued at approximately $46,805,455.95. This represents a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,037 shares of company stock valued at $1,911,802. 3.60% of the stock is currently owned by 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.