Arrowstreet Capital Limited Partnership Has $127.62 Million Stock Holdings in Liberty Energy Inc. $LBRT

Key Points

• Arrowstreet Capital massively increased its Liberty Energy stake by 901.2% in the first quarter, ending with 4.43 million shares valued at about $127.6 million.
• Liberty Energy’s latest quarterly results beat expectations, with EPS of $0.09 and revenue of $1.19 billion, while revenue rose 14% year over year.
• The company also announced a quarterly dividend of $0.09 per share, and analysts remain mostly constructive with a Moderate Buy consensus price target of about $31.09 despite some recent target cuts and downgrades.

Arrowstreet Capital Limited Partnership boosted its stake in Liberty Energy Inc. (NYSE:LBRT - Free Report) by 901.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,431,125 shares of the company's stock after buying an additional 3,988,535 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 2.72% of Liberty Energy worth $127,616,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Franklin Resources Inc. grew its position in Liberty Energy by 78.5% during the 3rd quarter. Franklin Resources Inc. now owns 8,575,840 shares of the company's stock worth $105,826,000 after acquiring an additional 3,771,724 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in Liberty Energy by 1,529.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,753,357 shares of the company's stock worth $33,976,000 after buying an additional 2,584,359 shares in the last quarter. Millennium Management LLC grew its holdings in Liberty Energy by 184.7% during the 4th quarter. Millennium Management LLC now owns 3,287,466 shares of the company's stock worth $60,687,000 after acquiring an additional 2,132,685 shares during the last quarter. Sourcerock Group LLC acquired a new stake in Liberty Energy in the 2nd quarter valued at about $23,653,000. Finally, Eventide Asset Management LLC acquired a new stake in Liberty Energy in the 4th quarter valued at about $36,394,000. 98.22% of the stock is currently owned by institutional investors.

Liberty Energy Stock Down 11.6%

Shares of LBRT stock opened at $17.34 on Friday. The firm's fifty day moving average price is $27.20 and its two-hundred day moving average price is $27.15. The company has a current ratio of 1.99, a quick ratio of 1.97 and a debt-to-equity ratio of 0.65. Liberty Energy Inc. has a 1 year low of $9.90 and a 1 year high of $34.48. The firm has a market capitalization of $2.83 billion, a P/E ratio of 23.43, a PEG ratio of 1.42 and a beta of 0.54.

Liberty Energy (NYSE:LBRT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. Liberty Energy had a return on equity of 1.14% and a net margin of 2.92%.The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.09 billion. During the same period in the prior year, the firm posted $0.12 earnings per share. The business's quarterly revenue was up 14.0% compared to the same quarter last year. On average, equities analysts predict that Liberty Energy Inc. will post 0.28 EPS for the current fiscal year.

Liberty Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, September 4th. Liberty Energy's payout ratio is presently 48.65%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on LBRT shares. The Goldman Sachs Group reiterated a "neutral" rating and set a $31.00 target price on shares of Liberty Energy in a research report on Wednesday, June 3rd. Morgan Stanley set a $32.00 price target on shares of Liberty Energy in a research report on Friday. Barclays lifted their price objective on shares of Liberty Energy from $29.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Friday, May 8th. Zacks Research cut shares of Liberty Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 21st. Finally, UBS Group reaffirmed a "buy" rating on shares of Liberty Energy in a research note on Friday, June 26th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Liberty Energy currently has an average rating of "Moderate Buy" and a consensus price target of $31.09.

Key Stories Impacting Liberty Energy

Here are the key news stories impacting Liberty Energy this week:

• Positive Sentiment: Liberty Energy beat Q2 expectations, reporting EPS of $0.09 and revenue of about $1.19 billion, both above estimates, with revenue up 14% year over year. Management also pointed to record utilization, pricing improvements, and AI-related initiatives as growth drivers. Article Title
• Positive Sentiment: Liberty Energy announced a strategic joint venture with PowerBridge to support a planned 2 GW powered data center campus in Texas, reinforcing its push into power-fueled growth opportunities beyond its core oilfield services business. Article Title
• Neutral Sentiment: RBC Capital lowered its price target on Liberty Energy to $29 from $34 and kept a “sector perform” rating. The new target still suggests meaningful upside, but the cut may have dampened enthusiasm. Article Title
• Neutral Sentiment: Coverage around Liberty Energy’s earnings call highlighted an upbeat growth strategy, but also noted investor focus on market volatility and the company’s higher capital spending plans. Article Title
• Negative Sentiment: Reports said LBRT plunged after management raised its full-year capex outlook, which can raise concerns about near-term free cash flow even if it supports longer-term expansion. Article Title
• Negative Sentiment: Zacks Research downgraded Liberty Energy from “strong-buy” to “hold,” adding to cautious sentiment around the stock. Article Title

Insiders Place Their Bets

In other news, CFO Michael Stock sold 19,998 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $33.48, for a total transaction of $669,533.04. Following the transaction, the chief financial officer directly owned 800,375 shares in the company, valued at $26,796,555. The trade was a 2.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 firm's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $33.92, for a total transaction of $249,312.00. Following the completion of the sale, the chairman owned 89,805 shares of the company's stock, valued at $3,046,185.60. This trade represents a 7.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 54,012 shares of company stock worth $1,673,803. 2.00% of the stock is owned by corporate 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. 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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