Edgestream Partners L.P. Sells 72,246 Shares of Liberty Energy Inc. $LBRT

Edgestream Partners L.P. decreased its position in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 41.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,069 shares of the company's stock after selling 72,246 shares during the period. Edgestream Partners L.P. owned 0.06% of Liberty Energy worth $2,940,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of LBRT. PNC Financial Services Group Inc. increased its stake in shares of Liberty Energy by 5.0% in the first quarter. PNC Financial Services Group Inc. now owns 7,855 shares of the company's stock worth $226,000 after purchasing an additional 375 shares during the period. Root Financial Partners LLC lifted its position in shares of 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 last quarter. Maryland State Retirement & Pension System boosted its stake in Liberty Energy by 2.0% during the 4th quarter. Maryland State Retirement & Pension System now owns 23,760 shares of the company's stock valued at $439,000 after purchasing an additional 477 shares during the period. Nisa Investment Advisors LLC boosted its stake in Liberty Energy by 2.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 22,583 shares of the company's stock valued at $417,000 after purchasing an additional 500 shares during the period. Finally, First Horizon Corp grew its holdings in Liberty Energy by 58.2% in the 4th quarter. First Horizon Corp now owns 1,620 shares of the company's stock valued at $30,000 after buying an additional 596 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors.

Insider Transactions at Liberty Energy

In related news, Chairman William F. Kimble sold 7,350 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were 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 of the company's stock, valued at $3,046,185.60. The trade was a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael Stock sold 19,998 shares of Liberty Energy stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $33.48, for a total value of $669,533.04. Following the sale, 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 ownership of the stock. 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 three months, insiders sold 54,012 shares of company stock valued at $1,673,803. Company insiders own 2.00% of the company's stock.

Liberty Energy Price Performance

Shares of NYSE:LBRT opened at $18.65 on Friday. The firm has a market capitalization of $3.04 billion, a PE ratio of 25.20, a PEG ratio of 3.57 and a beta of 0.54. The company has a current ratio of 1.99, a quick ratio of 1.75 and a debt-to-equity ratio of 0.74. Liberty Energy Inc. has a 1-year low of $9.90 and a 1-year high of $34.48. The business's 50 day moving average is $25.69 and its 200-day moving average is $27.10.

Liberty Energy (NYSE:LBRT - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.09 billion. Liberty Energy had a return on equity of 1.14% and a net margin of 2.92%.Liberty Energy's revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.12 earnings per share. Sell-side analysts predict that Liberty Energy Inc. will post 0.25 earnings per share for the current year.

Liberty Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders 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 dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th. Liberty Energy's dividend payout ratio (DPR) is presently 48.65%.

Wall Street Analyst Weigh In

LBRT has been the topic of several recent analyst reports. Stifel Nicolaus dropped their price target on Liberty Energy from $37.00 to $36.00 and set a "buy" rating on the stock in a research report on Friday, July 24th. Royal Bank Of Canada lowered their price objective on shares of Liberty Energy from $34.00 to $29.00 and set a "sector perform" rating on the stock in a research note on Friday, July 24th. Wall Street Zen lowered shares of Liberty Energy from a "hold" rating to a "sell" rating in a research report on Saturday. Weiss Ratings reiterated a "hold (c)" rating on shares of Liberty Energy in a research note on Wednesday. Finally, Zacks Research downgraded shares of Liberty Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 21st. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $31.09.

Liberty Energy Company 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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