Envestnet Asset Management Inc. Buys 42,271 Shares of Liberty Energy Inc. (NYSE:LBRT)

Envestnet Asset Management Inc. grew its stake in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 7.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 637,995 shares of the company's stock after acquiring an additional 42,271 shares during the quarter. Envestnet Asset Management Inc. owned about 0.39% of Liberty Energy worth $12,690,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of LBRT. Blue Trust Inc. lifted its position in Liberty Energy by 604.9% in the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the company's stock valued at $47,000 after acquiring an additional 2,111 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Liberty Energy by 257.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,197 shares of the company's stock valued at $47,000 after purchasing an additional 1,583 shares in the last quarter. Spire Wealth Management bought a new position in shares of Liberty Energy during the fourth quarter valued at $60,000. Smartleaf Asset Management LLC boosted its position in shares of Liberty Energy by 176.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,423 shares of the company's stock valued at $67,000 after buying an additional 2,184 shares during the last quarter. Finally, Lee Danner & Bass Inc. bought a new stake in Liberty Energy in the 4th quarter worth about $99,000. 98.22% of the stock is currently owned by institutional investors.

Liberty Energy Price Performance

LBRT traded up $0.26 during trading on Wednesday, hitting $12.27. 434,874 shares of the company traded hands, compared to its average volume of 3,565,027. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 0.20. The company has a market cap of $1.99 billion, a PE ratio of 6.56 and a beta of 1.18. The stock's 50-day simple moving average is $14.59 and its two-hundred day simple moving average is $17.49. Liberty Energy Inc. has a 1 year low of $9.50 and a 1 year high of $24.75.

Liberty Energy (NYSE:LBRT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The firm had revenue of $977.46 million during the quarter, compared to analyst estimates of $960.64 million. Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. During the same quarter last year, the business posted $0.48 earnings per share. As a group, sell-side analysts anticipate that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.32 annualized dividend and a dividend yield of 2.61%. Liberty Energy's dividend payout ratio (DPR) is 21.19%.

Insider Activity

In other news, CFO Michael Stock sold 10,000 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $17.94, for a total value of $179,400.00. Following the sale, the chief financial officer now directly owns 717,292 shares in the company, valued at $12,868,218.48. The trade was a 1.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Citigroup dropped their price target on shares of Liberty Energy from $16.00 to $13.50 and set a "neutral" rating on the stock in a report on Tuesday. Seaport Res Ptn raised Liberty Energy from a "hold" rating to a "strong-buy" rating in a report on Sunday, January 5th. The Goldman Sachs Group cut their price objective on Liberty Energy from $19.00 to $14.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Stifel Nicolaus dropped their target price on Liberty Energy from $23.00 to $22.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and set a $11.00 target price (down from $20.00) on shares of Liberty Energy in a report on Tuesday, April 8th. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $18.05.

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.