444,453 Shares in Liberty Energy Inc. $LBRT Purchased by Clearline Capital LP

Key Points

• Clearline Capital LP opened a new position in Liberty Energy, buying 444,453 shares worth about $8.2 million in the fourth quarter and ending with 0.27% ownership.
• Insiders sold shares in recent months, including CFO Michael Stock and Chairman William F. Kimble; total insider sales over the last 90 days came to 44,013 shares valued at about $1.41 million.
• Liberty Energy reported better-than-expected quarterly results, with EPS of $0.06 versus an expected loss and revenue of $1.02 billion, while analysts currently rate the stock a Moderate Buy with an average target price of $32.18.

Clearline Capital LP purchased a new position in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 444,453 shares of the company's stock, valued at approximately $8,205,000. Clearline Capital LP owned 0.27% of Liberty Energy at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new position in shares of Liberty Energy during the 4th quarter worth about $29,000. First Horizon Corp boosted its stake in shares of Liberty Energy by 58.2% during the 4th quarter. First Horizon Corp now owns 1,620 shares of the company's stock worth $30,000 after purchasing an additional 596 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Liberty Energy during the 4th quarter worth about $32,000. Quadrant Capital Group LLC boosted its stake in shares of Liberty Energy by 39.9% during the 4th quarter. Quadrant Capital Group LLC now owns 2,140 shares of the company's stock worth $40,000 after purchasing an additional 610 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Liberty Energy by 120.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the company's stock worth $41,000 after purchasing an additional 1,200 shares during the period. 98.22% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Liberty Energy

In other news, CFO Michael Stock sold 3,333 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $31.00, for a total value of $103,323.00. Following the completion of the sale, the chief financial officer owned 783,710 shares of the company's stock, valued at approximately $24,295,010. This represents a 0.42% decrease in their position. The sale 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, Chairman William F. Kimble sold 7,350 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $33.92, for a total transaction of $249,312.00. Following the completion of the sale, the chairman directly owned 89,805 shares of the company's stock, valued at $3,046,185.60. The trade was a 7.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 44,013 shares of company stock valued at $1,414,929 in the last ninety days. Corporate insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

LBRT has been the subject of a number of recent analyst reports. UBS Group reaffirmed a "buy" rating on shares of Liberty Energy in a research note on Tuesday, May 26th. The Goldman Sachs Group reissued a "neutral" rating and issued a $31.00 price objective on shares of Liberty Energy in a research report on Wednesday, June 3rd. Morgan Stanley set a $36.00 price objective on shares of Liberty Energy in a research report on Monday, April 27th. Barclays boosted their price objective on shares of Liberty Energy from $29.00 to $32.00 and gave the company an "equal weight" rating in a research report on Friday, May 8th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Liberty Energy in a research report on Friday, May 1st. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $32.18.

Liberty Energy Price Performance

Liberty Energy stock opened at $27.19 on Thursday. The firm has a 50-day moving average of $30.41 and a two-hundred day moving average of $26.06. Liberty Energy Inc. has a 1 year low of $9.90 and a 1 year high of $34.48. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of 29.88, a price-to-earnings-growth ratio of 2.34 and a beta of 0.51. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.21 and a quick ratio of 1.97.

Liberty Energy (NYSE:LBRT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.19. Liberty Energy had a net margin of 3.71% and a return on equity of 1.41%. The firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $954.71 million. During the same quarter in the prior year, the company earned $0.04 EPS. The company's revenue was up 4.5% compared to the same quarter last year. On average, research analysts forecast that Liberty Energy Inc. will post 0.25 earnings per share for the current year.

Liberty Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, June 4th. Liberty Energy's dividend payout ratio is presently 39.56%.

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. As of as of December 31, 2023, the company owned and operated a fleet of approximately 40 active hydraulic fracturing; and two sand mines in the Permian Basin.

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