Bank of America Corp DE trimmed its holdings in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,493,731 shares of the company's stock after selling 197,031 shares during the quarter. Bank of America Corp DE owned approximately 0.92% of Liberty Energy worth $43,019,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the business. Root Financial Partners LLC lifted its holdings in Liberty Energy by 79.6% during the first quarter. Root Financial Partners LLC now owns 914 shares of the company's stock worth $26,000 after buying an additional 405 shares during the period. Valued Wealth Advisors LLC purchased a new position in shares of Liberty Energy in the 1st quarter valued at $26,000. Summit Securities Group LLC purchased a new position in shares of Liberty Energy in the 1st quarter valued at $28,000. Los Angeles Capital Management LLC bought a new position in shares of Liberty Energy in the 4th quarter worth $29,000. Finally, Kelleher Financial Advisors bought a new position in shares of Liberty Energy in the 3rd quarter worth $29,000. Institutional investors own 98.22% of the company's stock.
Insider Activity
In related news, Director Arjun N. Murti bought 14,053 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was bought at an average cost of $17.79 per share, for a total transaction of $250,002.87. Following the purchase, the director directly owned 41,621 shares of the company's stock, valued at approximately $740,437.59. This trade represents a 50.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael Stock sold 19,998 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $33.48, for a total transaction of $669,533.04. Following the sale, the chief financial officer directly owned 800,375 shares in the company, valued at approximately $26,796,555. This represents a 2.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 49,995 shares of company stock worth $1,484,318. Corporate insiders own 2.00% of the company's stock.
Liberty Energy Stock Up 0.5%
Liberty Energy stock opened at $21.58 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.99 and a quick ratio of 1.75. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 29.16, a PEG ratio of 4.55 and a beta of 0.60. Liberty Energy Inc. has a 1-year low of $9.90 and a 1-year high of $34.48. The business has a fifty day moving average price of $24.07 and a 200-day moving average price of $27.14.
Liberty Energy (NYSE:LBRT - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $0.09 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the business earned $0.12 EPS. The firm's revenue for the quarter was up 14.0% on a year-over-year basis. Equities research analysts forecast that Liberty Energy Inc. will post 0.23 EPS for the current fiscal year.
Liberty Energy Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.09 per share. The ex-dividend date is Friday, September 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.7%. Liberty Energy's payout ratio is presently 48.65%.
Wall Street Analysts Forecast Growth
LBRT has been the topic of a number of recent research reports. Zacks Research downgraded Liberty Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 21st. Stifel Nicolaus reduced their target price on shares of Liberty Energy from $37.00 to $36.00 and set a "buy" rating for the company in a report on Friday, July 24th. Barclays increased their price target 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. The Goldman Sachs Group set a $23.00 price target on shares of Liberty Energy in a report on Friday, August 7th. Finally, UBS Group reaffirmed a "buy" rating on shares of Liberty Energy in a research report on Friday, June 26th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $30.36.
Read Our Latest Stock Report on LBRT
About Liberty Energy
(
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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