Angeles Wealth Management LLC bought a new position in Liberty Energy Inc. (NYSE:LBRT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 46,860 shares of the company's stock, valued at approximately $1,350,000.
Several other institutional investors also recently modified their holdings of LBRT. Fifth Third Bancorp increased its position in shares of Liberty Energy by 13,448.0% during the 1st quarter. Fifth Third Bancorp now owns 204,439 shares of the company's stock valued at $5,888,000 after purchasing an additional 202,930 shares during the last quarter. Summit Securities Group LLC purchased a new position in Liberty Energy in the first quarter valued at about $28,000. Valued Wealth Advisors LLC purchased a new position in Liberty Energy in the first quarter valued at about $26,000. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Liberty Energy by 2.1% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 32,600 shares of the company's stock valued at $939,000 after acquiring an additional 676 shares during the period. Finally, Personal CFO Solutions LLC grew its position in shares of Liberty Energy by 5.2% during the 1st quarter. Personal CFO Solutions LLC now owns 20,679 shares of the company's stock valued at $596,000 after acquiring an additional 1,023 shares during the period. 98.22% of the stock is owned by institutional investors.
Insider Activity at Liberty Energy
In related news, Chairman William F. Kimble sold 7,350 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $33.92, for a total value of $249,312.00. Following the sale, the chairman owned 89,805 shares in the company, valued at approximately $3,046,185.60. This trade represents a 7.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michael Stock sold 9,999 shares of Liberty Energy stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $25.89, for a total value of $258,874.11. Following the sale, the chief financial officer directly owned 773,711 shares of the company's stock, valued at $20,031,377.79. This represents a 1.28% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 54,012 shares of company stock worth $1,673,803 over the last quarter. Corporate insiders own 2.00% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the stock. UBS Group restated a "buy" rating on shares of Liberty Energy in a research note on Friday, June 26th. Barclays increased their price objective on Liberty Energy from $29.00 to $32.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Stifel Nicolaus raised their target price on Liberty Energy from $28.00 to $37.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $32.00 target price on shares of Liberty Energy in a research report on Friday, April 24th. Finally, Morgan Stanley set a $35.00 target price on Liberty Energy in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Liberty Energy presently has a consensus rating of "Moderate Buy" and an average price target of $32.09.
Check Out Our Latest Analysis on LBRT
Liberty Energy Price Performance
Liberty Energy stock opened at $23.42 on Friday. The firm has a market capitalization of $3.82 billion, a P/E ratio of 25.73, a PEG ratio of 1.91 and a beta of 0.54. Liberty Energy Inc. has a one year low of $9.90 and a one year high of $34.48. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.21 and a quick ratio of 1.97. The business has a fifty day moving average price of $28.49 and a 200-day moving average price of $27.04.
Liberty Energy (NYSE:LBRT - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.19. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $954.71 million. Liberty Energy had a return on equity of 1.41% and a net margin of 3.71%.The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.04 EPS. As a group, equities research analysts forecast that Liberty Energy Inc. will post 0.28 EPS for the current year.
Liberty Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be paid a $0.09 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.36 annualized dividend and a yield of 1.5%. Liberty Energy's dividend payout ratio is currently 39.56%.
Liberty Energy Company Profile
(
Free Report)
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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