Strs Ohio Raises Stock Holdings in Liberty Energy Inc. $LBRT

Strs Ohio raised its position in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 122.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 168,800 shares of the company's stock after buying an additional 92,900 shares during the quarter. Strs Ohio owned about 0.10% of Liberty Energy worth $3,116,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Liberty Energy by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,205 shares of the company's stock worth $1,491,000 after purchasing an additional 4,095 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Liberty Energy by 1,992.2% during the first quarter. NewEdge Advisors LLC now owns 12,030 shares of the company's stock valued at $190,000 after purchasing an additional 11,455 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Liberty Energy by 0.6% during the first quarter. Goldman Sachs Group Inc. now owns 868,978 shares of the company's stock valued at $13,756,000 after purchasing an additional 4,955 shares during the last quarter. Intech Investment Management LLC boosted its position in shares of Liberty Energy by 22.0% in the 1st quarter. Intech Investment Management LLC now owns 81,446 shares of the company's stock worth $1,289,000 after purchasing an additional 14,663 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Liberty Energy in the 2nd quarter worth approximately $119,000. 98.22% of the stock is owned by hedge funds and other institutional investors.

Liberty Energy Trading Down 0.6%

Shares of Liberty Energy stock opened at $33.72 on Wednesday. Liberty Energy Inc. has a fifty-two week low of $9.90 and a fifty-two week high of $34.42. 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 company has a market capitalization of $5.50 billion, a P/E ratio of 37.05 and a beta of 0.56. The company has a fifty day moving average of $29.22 and a 200 day moving average of $22.98.

Liberty Energy (NYSE:LBRT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.19. Liberty Energy had a return on equity of 1.41% and a net margin of 3.71%.The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $954.71 million. During the same period in the previous year, the business earned $0.04 earnings per share. The business's revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts anticipate that Liberty Energy Inc. will post -0.19 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, June 4th. Liberty Energy's dividend payout ratio (DPR) is 39.56%.

Insider Activity at Liberty Energy

In related news, Chairman William F. Kimble sold 7,350 shares of the firm's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $33.92, for a total transaction of $249,312.00. Following the completion of the transaction, the chairman directly owned 89,805 shares of the company's stock, valued at approximately $3,046,185.60. This trade represents a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arjun N. Murti acquired 9,696 shares of the company's stock in a transaction on Tuesday, February 17th. The shares were bought at an average cost of $25.79 per share, with a total value of $250,059.84. Following the acquisition, the director directly owned 27,568 shares in the company, valued at approximately $710,978.72. The trade was a 54.25% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders sold 57,350 shares of company stock valued at $1,518,812. Corporate insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on LBRT. Barclays boosted their target price on Liberty Energy from $24.00 to $29.00 and gave the stock an "equal weight" rating in a report on Monday, April 27th. Piper Sandler upped their price target on shares of Liberty Energy from $32.00 to $38.00 and gave the stock an "overweight" rating in a research note on Monday, April 27th. Royal Bank Of Canada restated a "sector perform" rating and set a $32.00 price objective on shares of Liberty Energy in a research note on Friday, April 24th. TD Cowen lifted their target price on shares of Liberty Energy from $19.00 to $21.00 and gave the stock a "hold" rating in a report on Friday, January 30th. Finally, Bank of America upgraded shares of Liberty Energy from a "neutral" rating to a "buy" rating and set a $31.00 target price on the stock in a research note on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $30.17.

Liberty Energy 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.

Want to see what other hedge funds are holding LBRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Liberty Energy Inc. (NYSE:LBRT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.