118,319 Shares in Liberty Energy Inc. $LBRT Bought by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP acquired 118,319 Liberty Energy shares worth approximately $3.1 million, while institutional investors collectively own 98.22% of the company.
• Analysts maintain a generally positive outlook, with seven Buy ratings and six Holds, producing a consensus “Moderate Buy” rating and an average price target of $30 versus the stock’s $20.98 opening price.
• Liberty Energy exceeded quarterly earnings and revenue estimates, reporting $0.09 EPS and $1.19 billion in revenue, and declared a quarterly dividend of $0.09 per share, representing a 1.7% annualized yield.

Engineers Gate Manager LP purchased a new position in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 118,319 shares of the company's stock, valued at approximately $3,099,000. Engineers Gate Manager LP owned about 0.07% of Liberty Energy as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Root Financial Partners LLC increased its position in Liberty Energy by 79.6% during the 1st quarter. Root Financial Partners LLC now owns 914 shares of the company's stock worth $26,000 after purchasing an additional 405 shares during the period. Valued Wealth Advisors LLC purchased a new stake in shares of Liberty Energy in the first quarter valued at approximately $26,000. Summit Securities Group LLC acquired a new position in Liberty Energy during the first quarter worth $28,000. Los Angeles Capital Management LLC acquired a new position in Liberty Energy during the fourth quarter worth $29,000. Finally, Kelleher Financial Advisors purchased a new position in Liberty Energy in the third quarter worth $29,000. Institutional investors and hedge funds own 98.22% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. The Goldman Sachs Group set a $23.00 target price on shares of Liberty Energy in a report on Friday, August 7th. Piper Sandler decreased their price target on Liberty Energy from $34.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, August 27th. UBS Group restated a "buy" rating on shares of Liberty Energy in a report on Friday, June 26th. Wall Street Zen downgraded Liberty Energy from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Finally, Royal Bank Of Canada lowered their target price on Liberty Energy from $34.00 to $29.00 and set a "sector perform" rating on the stock in a report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $30.00.

Insider Buying and Selling

In related news, CFO Michael Stock sold 6,666 shares of Liberty Energy stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $19.84, for a total value of $132,253.44. Following the completion of the transaction, the chief financial officer directly owned 760,379 shares in the company, valued at approximately $15,085,919.36. This trade represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Arjun Murti purchased 14,053 shares of the stock in a transaction dated Tuesday, July 28th. The stock was purchased at an average price of $17.79 per share, with a total value of $250,002.87. Following the completion of the acquisition, the director directly owned 41,621 shares in the company, valued at approximately $740,437.59. The trade was a 50.98% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 19,998 shares of company stock valued at $450,955 in the last three months. Corporate insiders own 2.00% of the company's stock.

Liberty Energy Stock Up 0.1%

Shares of LBRT opened at $20.98 on Monday. The firm has a market cap of $3.42 billion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 3.06 and a beta of 0.61. The company's fifty day moving average is $21.01 and its two-hundred day moving average is $26.44. Liberty Energy Inc. has a fifty-two week low of $10.68 and a fifty-two week high of $34.48. The company has a quick ratio of 1.75, a current ratio of 1.99 and a debt-to-equity ratio of 0.74.

Liberty Energy (NYSE:LBRT - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.09 billion. Liberty Energy had a net margin of 2.92% and a return on equity of 1.14%. Liberty Energy's revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 earnings per share. Analysts forecast that Liberty Energy Inc. will post 0.33 earnings per share for the current year.

Liberty Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.7%. Liberty Energy's dividend payout ratio (DPR) is presently 48.65%.

Liberty Energy Company Profile

Liberty Energy Inc is an energy services company that provides specialized equipment, technology and services used in the development of onshore oil and natural gas resources. The company primarily supports exploration and production companies during the well-completion process, with an emphasis on hydraulic fracturing and related operations.

Its services and products include hydraulic fracturing, wireline services, proppant logistics, frac-related equipment, field engineering and operational support.

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