Liberty Energy Inc. $LBRT Stake Lowered by AlphaQuest LLC

AlphaQuest LLC decreased its stake in Liberty Energy Inc. (NYSE:LBRT) by 85.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,384 shares of the company’s stock after selling 24,999 shares during the period. AlphaQuest LLC’s holdings in Liberty Energy were worth $54,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LBRT. American Century Companies Inc. increased its position in Liberty Energy by 10.6% in the second quarter. American Century Companies Inc. now owns 6,093,383 shares of the company’s stock worth $69,952,000 after buying an additional 584,774 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Liberty Energy by 21.7% during the second quarter. The Manufacturers Life Insurance Company now owns 2,967,041 shares of the company’s stock worth $34,062,000 after acquiring an additional 529,023 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Liberty Energy by 20.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,161,558 shares of the company’s stock worth $24,815,000 after acquiring an additional 365,506 shares during the period. Sourcerock Group LLC acquired a new stake in shares of Liberty Energy in the 2nd quarter worth about $23,653,000. Finally, Bank of America Corp DE lifted its position in Liberty Energy by 32.9% in the 2nd quarter. Bank of America Corp DE now owns 1,852,813 shares of the company’s stock valued at $21,270,000 after purchasing an additional 458,285 shares during the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

Liberty Energy Stock Up 4.5%

LBRT opened at $25.90 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.96 and a current ratio of 1.22. The company has a market capitalization of $4.20 billion, a PE ratio of 29.10 and a beta of 0.49. The stock’s fifty day moving average is $20.75 and its 200-day moving average is $16.22. Liberty Energy Inc. has a one year low of $9.50 and a one year high of $27.21.

Liberty Energy (NYSE:LBRT) last released its earnings results on Wednesday, January 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.21. Liberty Energy had a return on equity of 1.24% and a net margin of 3.69%.The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $880.59 million. During the same period in the previous year, the company earned $0.10 earnings per share. Liberty Energy’s revenue was up 10.1% compared to the same quarter last year. On average, equities analysts predict that Liberty Energy Inc. will post 0.58 EPS for the current fiscal year.

Liberty Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $0.36 annualized dividend and a yield of 1.4%. Liberty Energy’s dividend payout ratio is currently 40.45%.

Analysts Set New Price Targets

Several research analysts have commented on LBRT shares. Zacks Research upgraded shares of Liberty Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, December 15th. Morgan Stanley boosted their price objective on Liberty Energy from $23.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Barclays raised their target price on Liberty Energy from $17.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 3rd. Piper Sandler raised Liberty Energy from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $17.00 to $32.00 in a research note on Monday, February 2nd. Finally, Stifel Nicolaus boosted their price target on Liberty Energy from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.64.

Insider Buying and Selling

In related news, CFO Michael Stock sold 25,000 shares of Liberty Energy stock in a transaction on Friday, February 6th. The stock was sold at an average price of $25.38, for a total value of $634,500.00. Following the transaction, the chief financial officer directly owned 784,819 shares in the company, valued at $19,918,706.22. The trade was a 3.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider R Sean Elliott sold 25,000 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $25.40, for a total value of $635,000.00. Following the sale, the insider directly owned 343,150 shares in the company, valued at $8,716,010. This trade represents a 6.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.90% of the company’s stock.

Liberty Energy Company 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.