South Dakota Investment Council lowered its position in Liberty Energy Inc. (NYSE:LBRT - Free Report) by 17.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 747,194 shares of the company's stock after selling 159,414 shares during the period. South Dakota Investment Council owned 0.46% of Liberty Energy worth $21,519,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Root Financial Partners LLC lifted its stake in shares of Liberty Energy by 79.6% in 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 in the last quarter. Valued Wealth Advisors LLC purchased a new stake in Liberty Energy during the 1st quarter valued at about $26,000. Summit Securities Group LLC purchased a new stake in Liberty Energy during the 1st quarter valued at about $28,000. Los Angeles Capital Management LLC purchased a new stake in Liberty Energy during the 4th quarter valued at about $29,000. Finally, Kelleher Financial Advisors acquired a new stake in Liberty Energy in the 3rd quarter valued at about $29,000. Hedge funds and other institutional investors own 98.22% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on LBRT shares. Barclays raised their target price 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. Piper Sandler reduced their price objective on Liberty Energy from $38.00 to $34.00 and set an "overweight" rating on the stock in a research report on Friday, July 24th. Morgan Stanley set a $32.00 price objective on Liberty Energy in a research note on Friday, July 24th. The Goldman Sachs Group restated a "neutral" rating and issued a $31.00 target price on shares of Liberty Energy in a report on Wednesday, June 3rd. Finally, Stifel Nicolaus cut their target price on Liberty Energy from $37.00 to $36.00 and set a "buy" rating for the company in a research note on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.09.
Check Out Our Latest Report on Liberty Energy
Insider Buying and Selling at Liberty Energy
In other news, CFO Michael Stock sold 9,999 shares of the company's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $25.89, for a total value of $258,874.11. Following the transaction, the chief financial officer 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman William F. Kimble sold 7,350 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $33.92, for a total value of $249,312.00. Following the completion of the transaction, the chairman directly owned 89,805 shares in the company, valued at approximately $3,046,185.60. This trade represents a 7.57% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 54,012 shares of company stock valued at $1,673,803. 2.00% of the stock is owned by insiders.
Liberty Energy Stock Performance
NYSE:LBRT opened at $17.07 on Thursday. The company's 50-day moving average is $26.26 and its two-hundred day moving average is $27.17. Liberty Energy Inc. has a 1-year low of $9.90 and a 1-year high of $34.48. 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 firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 3.38 and a beta of 0.54.
Liberty Energy (NYSE:LBRT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.01. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.09 billion. Liberty Energy had a net margin of 2.92% and a return on equity of 1.14%. The business's revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.12 EPS. Analysts forecast that Liberty Energy Inc. will post 0.25 EPS for the current year.
Liberty Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, September 4th. Liberty Energy's dividend payout ratio is presently 48.65%.
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.
Further Reading
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