Liberty Energy Inc. $LBRT Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in shares of Liberty Energy Inc. (NYSE:LBRT) by 6.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 854,911 shares of the company’s stock after purchasing an additional 48,706 shares during the period. Envestnet Asset Management Inc.’s holdings in Liberty Energy were worth $10,550,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of LBRT. Wellington Shields Capital Management LLC acquired a new position in shares of Liberty Energy during the second quarter worth $29,000. Smartleaf Asset Management LLC raised its stake in Liberty Energy by 213.7% during the second quarter. Smartleaf Asset Management LLC now owns 3,607 shares of the company’s stock worth $42,000 after acquiring an additional 2,457 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Liberty Energy during the 2nd quarter valued at approximately $48,000. EverSource Wealth Advisors LLC boosted its position in shares of Liberty Energy by 460.2% during the second quarter. EverSource Wealth Advisors LLC now owns 5,832 shares of the company’s stock worth $67,000 after buying an additional 4,791 shares during the period. Finally, Covestor Ltd lifted its stake in shares of Liberty Energy by 32.6% in the 3rd quarter. Covestor Ltd now owns 6,358 shares of the company’s stock worth $78,000 after acquiring an additional 1,562 shares during the period. 98.22% of the stock is owned by institutional investors and hedge funds.

Liberty Energy Trading Up 1.8%

Shares of LBRT opened at $27.15 on Thursday. Liberty Energy Inc. has a 52-week low of $9.50 and a 52-week high of $27.77. 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 firm has a market cap of $4.40 billion, a price-to-earnings ratio of 30.50 and a beta of 0.49. The business’s fifty day moving average is $21.16 and its 200-day moving average is $16.49.

Liberty Energy (NYSE:LBRT) last released its earnings results on Wednesday, January 28th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.21. Liberty Energy had a return on equity of 1.24% and a net margin of 3.69%.The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $880.59 million. The firm’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share. Equities analysts anticipate that Liberty Energy Inc. will post 0.58 EPS for the current fiscal year.

Liberty Energy Announces Dividend

The firm also recently disclosed 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 1.3%. Liberty Energy’s dividend payout ratio (DPR) is currently 40.45%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on LBRT shares. Barclays boosted their target price on Liberty Energy from $17.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. Citigroup upped their target price on shares of Liberty Energy from $21.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday. TD Cowen increased their price objective on shares of Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a research note on Friday, January 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $26.00 price objective on shares of Liberty Energy in a research note on Wednesday, February 4th. Finally, Zacks Research raised shares of Liberty Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, December 15th. Seven 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.08.

Insider Activity at Liberty Energy

In other Liberty Energy news, insider R Sean Elliott sold 25,000 shares of Liberty Energy stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $25.40, for a total transaction of $635,000.00. Following the completion of the sale, the insider owned 343,150 shares of the company’s stock, valued at $8,716,010. The trade was a 6.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael Stock sold 25,000 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $25.38, for a total transaction of $634,500.00. Following the transaction, the chief financial officer directly owned 784,819 shares in the company, valued at approximately $19,918,706.22. This represents a 3.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.90% of the company’s stock.

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.