Liberty Energy Inc. $LBRT Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in Liberty Energy Inc. (NYSE:LBRT) by 23.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,876,443 shares of the company’s stock after acquiring an additional 355,576 shares during the quarter. JPMorgan Chase & Co. owned 1.16% of Liberty Energy worth $23,155,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in LBRT. SummerHaven Investment Management LLC purchased a new position in shares of Liberty Energy in the third quarter valued at $838,000. American Century Companies Inc. grew its stake in Liberty Energy by 10.6% in the 2nd quarter. American Century Companies Inc. now owns 6,093,383 shares of the company’s stock valued at $69,952,000 after acquiring an additional 584,774 shares during the last quarter. Callodine Capital Management LP grew its stake in Liberty Energy by 203.3% in the 2nd quarter. Callodine Capital Management LP now owns 1,057,000 shares of the company’s stock valued at $12,134,000 after acquiring an additional 708,453 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Liberty Energy by 20.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,161,558 shares of the company’s stock valued at $24,815,000 after acquiring an additional 365,506 shares in the last quarter. Finally, Thomist Capital Management LP acquired a new position in Liberty Energy during the second quarter worth about $2,446,000. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Liberty Energy Price Performance

LBRT stock opened at $28.05 on Monday. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 31.51 and a beta of 0.48. The company has a quick ratio of 0.96, a current ratio of 1.22 and a debt-to-equity ratio of 0.22. Liberty Energy Inc. has a 52-week low of $9.50 and a 52-week high of $28.65. The stock’s fifty day simple moving average is $22.45 and its 200-day simple moving average is $17.33.

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

Liberty Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, March 4th. Liberty Energy’s dividend payout ratio (DPR) is 40.45%.

Analysts Set New Price Targets

Several research firms have recently commented on LBRT. UBS Group reiterated a “buy” rating and issued a $34.00 price target on shares of Liberty Energy in a research report on Friday, January 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Liberty Energy in a report on Monday, December 29th. The Goldman Sachs Group reissued a “neutral” rating and issued a $26.00 price target on shares of Liberty Energy in a report on Wednesday, February 4th. Stifel Nicolaus upped their price objective on Liberty Energy from $23.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Liberty Energy in a research report on Thursday, January 15th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Liberty Energy currently has an average rating of “Moderate Buy” and an average price target of $26.08.

Insider Activity

In other 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 value of $635,000.00. Following the transaction, the insider directly owned 343,150 shares of the company’s stock, valued at $8,716,010. The trade was a 6.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Michael Stock sold 25,000 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $25.38, for a total transaction of $634,500.00. Following the sale, the chief financial officer directly owned 784,819 shares of the company’s stock, valued at approximately $19,918,706.22. This trade represents a 3.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate 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.