Liberty Energy Inc. (NYSE:LBRT) Shares Sold by Arizona State Retirement System

Arizona State Retirement System lowered its stake in Liberty Energy Inc. (NYSE:LBRT) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,251 shares of the company’s stock after selling 840 shares during the quarter. Arizona State Retirement System’s holdings in Liberty Energy were worth $821,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Liberty Energy by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 20,546,529 shares of the company’s stock worth $380,522,000 after buying an additional 893,563 shares during the period. BlackRock Inc. raised its holdings in Liberty Energy by 10.3% during the 2nd quarter. BlackRock Inc. now owns 14,720,744 shares of the company’s stock worth $196,816,000 after buying an additional 1,376,187 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Liberty Energy by 5.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,553,932 shares of the company’s stock valued at $172,948,000 after purchasing an additional 734,764 shares during the period. Macquarie Group Ltd. increased its holdings in shares of Liberty Energy by 181.5% in the 1st quarter. Macquarie Group Ltd. now owns 8,085,410 shares of the company’s stock valued at $103,574,000 after purchasing an additional 5,213,132 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Liberty Energy by 47.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,528,916 shares of the company’s stock valued at $96,444,000 after purchasing an additional 2,417,129 shares during the period. Institutional investors and hedge funds own 98.22% of the company’s stock.

Liberty Energy Stock Down 0.3 %

Shares of Liberty Energy stock opened at $21.52 on Thursday. The stock has a market capitalization of $3.59 billion, a P/E ratio of 6.81, a PEG ratio of 1.07 and a beta of 1.85. The company has a quick ratio of 1.17, a current ratio of 1.49 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average price of $21.09 and a two-hundred day moving average price of $19.63. Liberty Energy Inc. has a 12-month low of $11.62 and a 12-month high of $23.23.

Liberty Energy (NYSE:LBRT) last announced its earnings results on Wednesday, January 24th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.08 billion. Liberty Energy had a return on equity of 32.28% and a net margin of 11.72%. The firm’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.82 EPS. Equities analysts expect that Liberty Energy Inc. will post 2.64 earnings per share for the current year.

Liberty Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.28 dividend on an annualized basis and a yield of 1.30%. Liberty Energy’s payout ratio is currently 8.86%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Morgan Stanley upped their target price on Liberty Energy from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Piper Sandler upped their target price on Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Bank of America boosted their price target on Liberty Energy from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Wells Fargo & Company lowered their price target on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, December 21st. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.67.

Insiders Place Their Bets

In other news, insider R Sean Elliott sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total value of $410,000.00. Following the completion of the sale, the insider now directly owns 218,530 shares of the company’s stock, valued at $4,479,865. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director William F. Kimble sold 12,459 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $21.55, for a total value of $268,491.45. Following the completion of the sale, the director now directly owns 69,963 shares of the company’s stock, valued at $1,507,702.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider R Sean Elliott sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total value of $410,000.00. Following the completion of the sale, the insider now directly owns 218,530 shares of the company’s stock, valued at $4,479,865. The disclosure for this sale can be found here. Insiders sold 98,459 shares of company stock valued at $2,077,491 over the last 90 days. 3.70% of the stock is currently owned by company insiders.

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.