Teacher Retirement System of Texas Increases Holdings in Liberty Energy Inc. (NYSE:LBRT)

Teacher Retirement System of Texas grew its stake in Liberty Energy Inc. (NYSE:LBRT - Free Report) by 36.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 133,198 shares of the company's stock after acquiring an additional 35,622 shares during the period. Teacher Retirement System of Texas owned 0.08% of Liberty Energy worth $2,416,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Jackson Creek Investment Advisors LLC acquired a new position in Liberty Energy during the 4th quarter valued at about $800,000. International Assets Investment Management LLC boosted its position in shares of Liberty Energy by 1,777.4% in the 4th quarter. International Assets Investment Management LLC now owns 233,280 shares of the company's stock worth $4,232,000 after purchasing an additional 220,854 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Liberty Energy by 12.4% during the third quarter. American Century Companies Inc. now owns 2,241,076 shares of the company's stock worth $41,505,000 after purchasing an additional 247,074 shares during the period. LSV Asset Management increased its holdings in Liberty Energy by 522.2% in the fourth quarter. LSV Asset Management now owns 897,180 shares of the company's stock valued at $16,275,000 after purchasing an additional 752,980 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC acquired a new position in Liberty Energy in the fourth quarter valued at about $3,532,000. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Liberty Energy from $27.00 to $28.00 and gave the stock an "overweight" rating in a research note on Friday, January 26th. Bank of America upped their price objective on shares of Liberty Energy from $20.00 to $23.00 and gave the company a "neutral" rating in a research report on Monday, April 15th. Wells Fargo & Company lifted their target price on Liberty Energy from $24.00 to $26.00 and gave the stock an "overweight" rating in a report on Friday, April 19th. TD Cowen increased their price target on Liberty Energy from $19.00 to $21.00 and gave the stock a "hold" rating in a report on Friday, April 19th. Finally, Royal Bank of Canada lifted their price objective on Liberty Energy from $25.00 to $27.00 and gave the company an "outperform" rating in a report on Friday, April 19th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $24.30.

Liberty Energy Stock Down 0.4 %

NYSE:LBRT traded down $0.09 on Thursday, hitting $23.00. 1,078,442 shares of the company's stock were exchanged, compared to its average volume of 2,830,171. The company has a market cap of $3.83 billion, a P/E ratio of 8.39, a price-to-earnings-growth ratio of 1.15 and a beta of 1.83. The firm has a 50-day moving average price of $21.78 and a 200-day moving average price of $20.13. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.48 and a quick ratio of 1.16. Liberty Energy Inc. has a 52 week low of $11.62 and a 52 week high of $23.46.

Liberty Energy (NYSE:LBRT - Get Free Report) last released its earnings results on Thursday, April 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.06). The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The business's revenue was down 12.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.90 EPS. As a group, analysts expect that Liberty Energy Inc. will post 2.51 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.28 dividend on an annualized basis and a yield of 1.22%. Liberty Energy's payout ratio is 10.22%.

Insiders Place Their Bets

In other news, Director William F. Kimble sold 12,459 shares of the business's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $21.55, for a total transaction of $268,491.45. Following the transaction, the director now directly owns 69,963 shares in the company, valued at approximately $1,507,702.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director William F. Kimble sold 12,459 shares of Liberty Energy stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $21.55, for a total transaction of $268,491.45. Following the completion of the transaction, the director now directly owns 69,963 shares in the company, valued at approximately $1,507,702.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $20.27, for a total value of $405,400.00. Following the completion of the sale, the chief executive officer now owns 2,830,402 shares in the company, valued at approximately $57,372,248.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 182,459 shares of company stock valued at $4,025,391. 3.70% 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.