Legato Capital Management LLC bought a new position in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 45,627 shares of the company's stock, valued at approximately $842,000.
A number of other institutional investors and hedge funds have also modified their holdings of LBRT. Franklin Resources Inc. grew its holdings in shares of Liberty Energy by 78.5% during the third quarter. Franklin Resources Inc. now owns 8,575,840 shares of the company's stock valued at $105,826,000 after buying an additional 3,771,724 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Liberty Energy by 1,529.2% during the third quarter. Balyasny Asset Management L.P. now owns 2,753,357 shares of the company's stock valued at $33,976,000 after buying an additional 2,584,359 shares in the last quarter. Sourcerock Group LLC purchased a new position in shares of Liberty Energy during the second quarter valued at $23,653,000. Cooper Creek Partners Management LLC purchased a new position in shares of Liberty Energy during the third quarter valued at $22,336,000. Finally, American Century Companies Inc. grew its holdings in shares of Liberty Energy by 28.2% during the third quarter. American Century Companies Inc. now owns 7,809,390 shares of the company's stock valued at $96,368,000 after buying an additional 1,716,007 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company's stock.
Insiders Place Their Bets
In related news, CFO Michael Stock sold 19,998 shares of the firm's stock in a transaction 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 owned 800,375 shares of the company's stock, valued at approximately $26,796,555. This trade represents a 2.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 firm's 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 directly owned 89,805 shares in the company, valued at $3,046,185.60. The trade was a 7.57% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.00% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have commented on the company. Citigroup boosted their target price on Liberty Energy from $21.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, February 17th. Stifel Nicolaus upped their price target on Liberty Energy from $28.00 to $37.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. Royal Bank Of Canada reissued a "sector perform" rating and set a $32.00 price objective on shares of Liberty Energy in a research report on Friday, April 24th. Morgan Stanley set a $36.00 price target on Liberty Energy in a report on Monday, April 27th. Finally, TD Cowen upped their price target on Liberty Energy from $19.00 to $21.00 and gave the company a "hold" rating in a report on Friday, January 30th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.42.
Get Our Latest Stock Analysis on Liberty Energy
Liberty Energy Stock Down 0.1%
Shares of LBRT opened at $31.82 on Tuesday. The firm has a market capitalization of $5.19 billion, a price-to-earnings ratio of 34.97, a PEG ratio of 9.52 and a beta of 0.56. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.97 and a current ratio of 2.21. The business's fifty day moving average price is $30.52 and its two-hundred day moving average price is $24.58. Liberty Energy Inc. has a 52 week low of $9.90 and a 52 week high of $34.48.
Liberty Energy (NYSE:LBRT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $0.06 earnings per share 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 the consensus estimate of $954.71 million. Liberty Energy had a return on equity of 1.41% and a net margin of 3.71%.The firm's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.04 EPS. On average, analysts predict that Liberty Energy Inc. will post 0.07 earnings per share for the current year.
Liberty Energy Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.1%. Liberty Energy's dividend payout ratio is 39.56%.
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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