Bank of New York Mellon Corp Sells 257,861 Shares of Liberty Energy Inc. (NYSE:LBRT)

Bank of New York Mellon Corp lessened its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 10.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,182,287 shares of the company’s stock after selling 257,861 shares during the period. Bank of New York Mellon Corp owned 1.34% of Liberty Energy worth $43,406,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Covestor Ltd boosted its holdings in Liberty Energy by 96.8% in the third quarter. Covestor Ltd now owns 1,704 shares of the company’s stock valued at $33,000 after acquiring an additional 838 shares during the last quarter. Quarry LP boosted its holdings in Liberty Energy by 237.5% in the third quarter. Quarry LP now owns 1,991 shares of the company’s stock valued at $38,000 after acquiring an additional 1,401 shares during the last quarter. Blue Trust Inc. boosted its holdings in Liberty Energy by 604.9% in the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the company’s stock valued at $47,000 after acquiring an additional 2,111 shares during the last quarter. Spire Wealth Management bought a new position in Liberty Energy in the fourth quarter valued at about $60,000. Finally, US Bancorp DE boosted its holdings in 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 acquiring an additional 2,016 shares during the last quarter. Institutional investors own 98.22% of the company’s stock.

Liberty Energy Trading Down 3.7 %

NYSE LBRT opened at $15.16 on Friday. The firm has a market cap of $2.45 billion, a P/E ratio of 8.10 and a beta of 1.58. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.27 and a quick ratio of 0.97. The stock’s 50-day moving average is $19.34 and its 200-day moving average is $19.10. Liberty Energy Inc. has a one year low of $14.86 and a one year high of $24.75.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings results on Wednesday, January 29th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. Sell-side analysts anticipate that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Thursday, March 6th. Liberty Energy’s dividend payout ratio is presently 17.11%.

Analysts Set New Price Targets

LBRT has been the topic of several recent research reports. Seaport Res Ptn upgraded Liberty Energy from a “hold” rating to a “strong-buy” rating in a report on Sunday, January 5th. The Goldman Sachs Group started coverage on Liberty Energy in a research note on Friday, December 13th. They issued a “neutral” rating and a $19.00 target price on the stock. Royal Bank of Canada cut their target price on Liberty Energy from $26.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company cut their target price on Liberty Energy from $24.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Atb Cap Markets raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.30.

Insider Activity at Liberty Energy

In other Liberty Energy news, CFO Michael Stock sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $17.94, for a total value of $179,400.00. Following the completion of the transaction, the chief financial officer now directly owns 717,292 shares in the company, valued at $12,868,218.48. This trade represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher A. Wright sold 2,936 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $19.16, for a total value of $56,253.76. Following the completion of the transaction, the chief executive officer now owns 2,543,877 shares of the company’s stock, valued at approximately $48,740,683.32. This represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,936 shares of company stock valued at $864,604. 3.70% of the stock is 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.