State of Alaska Department of Revenue Sells 72,022 Shares of Liberty Energy Inc. $LBRT

Key Points

• State of Alaska Department of Revenue cut its stake in Liberty Energy by 45.1%, selling 72,022 shares and leaving 87,496 shares worth about $1.614 million (≈0.05% of the company).
• Analysts have a consensus "Moderate Buy" on LBRT with an average price target of $26.83 (seven Buy and seven Hold ratings); recent notes include UBS $34, BofA upgrade to Buy ($31) and Goldman raising its target to $30.
• Liberty Energy beat quarterly expectations—EPS $0.05 vs. -$0.16 estimate and revenue $1.04B vs. $880.6M (+10.1% YoY)—and declared a quarterly dividend of $0.09 (annualized $0.36, ~1.4% yield) with ex-dividend date June 4.

State of Alaska Department of Revenue reduced its stake in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 45.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 87,496 shares of the company's stock after selling 72,022 shares during the period. State of Alaska Department of Revenue owned approximately 0.05% of Liberty Energy worth $1,614,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Kelleher Financial Advisors bought a new stake in shares of Liberty Energy during the 3rd quarter worth $29,000. Advisory Services Network LLC bought a new stake in shares of Liberty Energy during the 3rd quarter worth $35,000. Smartleaf Asset Management LLC lifted its holdings in shares of Liberty Energy by 213.7% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,607 shares of the company's stock worth $42,000 after acquiring an additional 2,457 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Liberty Energy by 1,163.9% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,855 shares of the company's stock valued at $48,000 after purchasing an additional 3,550 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd boosted its stake in shares of Liberty Energy by 931.1% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 5,372 shares of the company's stock valued at $66,000 after purchasing an additional 4,851 shares in the last quarter. 98.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LBRT shares. UBS Group reaffirmed a "buy" rating and issued a $34.00 price objective on shares of Liberty Energy in a research note on Friday, January 30th. The Goldman Sachs Group upped their price objective on shares of Liberty Energy from $26.00 to $30.00 and gave the company a "neutral" rating in a research note on Wednesday, March 4th. Bank of America upgraded Liberty Energy from a "neutral" rating to a "buy" rating and set a $31.00 price objective on the stock in a report on Tuesday, February 17th. Wall Street Zen upgraded Liberty Energy from a "sell" rating to a "hold" rating in a report on Saturday, February 7th. Finally, Barclays lifted their price objective on Liberty Energy from $23.00 to $24.00 and gave the stock an "equal weight" rating in a report on Thursday, April 9th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $26.83.

Liberty Energy Stock Up 0.2%

LBRT opened at $26.36 on Monday. The company has a market cap of $4.27 billion, a P/E ratio of 29.62 and a beta of 0.48. The business's 50-day moving average price is $28.05 and its 200-day moving average price is $21.64. The company has a current ratio of 1.22, a quick ratio of 0.96 and a debt-to-equity ratio of 0.22. Liberty Energy Inc. has a 12 month low of $9.90 and a 12 month high of $32.40.

Liberty Energy (NYSE:LBRT - Get Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.21. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $880.59 million. Liberty Energy had a net margin of 3.69% and a return on equity of 1.24%. The firm's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 EPS. On average, equities analysts expect that Liberty Energy Inc. will post 0.58 EPS for the current year.

Liberty Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.36 annualized dividend and a yield of 1.4%. Liberty Energy's dividend payout ratio is presently 40.45%.

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, CFO Michael Stock sold 25,000 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $25.38, for a total transaction of $634,500.00. Following the completion of the sale, the chief financial officer owned 784,819 shares of the company's stock, valued at $19,918,706.22. This represents a 3.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider R Sean Elliott sold 25,000 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $25.40, for a total transaction of $635,000.00. Following the sale, the insider directly owned 343,150 shares of the company's stock, valued at $8,716,010. The trade was a 6.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.00% of the stock is currently 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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