Allspring Global Investments Holdings LLC Has $19.32 Million Holdings in Liberty Energy Inc. $LBRT

Allspring Global Investments Holdings LLC lessened its stake in Liberty Energy Inc. (NYSE:LBRT) by 29.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 691,818 shares of the company’s stock after selling 283,186 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Liberty Energy were worth $19,316,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LBRT. Root Financial Partners LLC boosted its position in shares of Liberty Energy by 79.6% during the first quarter. Root Financial Partners LLC now owns 914 shares of the company’s stock worth $26,000 after purchasing an additional 405 shares in the last quarter. Valued Wealth Advisors LLC acquired a new position in shares of Liberty Energy in the 1st quarter valued at $26,000. Summit Securities Group LLC bought a new stake in shares of Liberty Energy in the 1st quarter valued at $28,000. Los Angeles Capital Management LLC bought a new stake in shares of Liberty Energy in the 4th quarter valued at $29,000. Finally, Kelleher Financial Advisors acquired a new stake in Liberty Energy during the 3rd quarter worth $29,000. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Liberty Energy

In related news, CFO Michael Stock sold 9,999 shares of Liberty Energy stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $25.89, for a total transaction of $258,874.11. Following the completion of the sale, the chief financial officer directly owned 773,711 shares of the company’s stock, valued at approximately $20,031,377.79. This trade represents a 1.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman William F. Kimble sold 7,350 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $33.92, for a total value of $249,312.00. Following the completion of the sale, the chairman owned 89,805 shares of the company’s stock, valued at $3,046,185.60. This trade represents a 7.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 54,012 shares of company stock valued at $1,673,803. 2.00% of the stock is currently owned by corporate insiders.

Liberty Energy Price Performance

Shares of LBRT opened at $24.90 on Wednesday. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 1.96 and a beta of 0.54. The company’s fifty day simple moving average is $27.95 and its 200 day simple moving average is $27.17. Liberty Energy Inc. has a 1-year low of $9.90 and a 1-year high of $34.48. The company has a current ratio of 2.21, a quick ratio of 1.97 and a debt-to-equity ratio of 0.75.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Wednesday, April 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.19. Liberty Energy had a net margin of 3.71% and a return on equity of 1.41%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $954.71 million. During the same period in the prior year, the firm earned $0.04 EPS. Liberty Energy’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, research analysts forecast that Liberty Energy Inc. will post 0.28 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.4%. Liberty Energy’s payout ratio is presently 39.56%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LBRT. Morgan Stanley set a $35.00 price target on shares of Liberty Energy in a research note on Wednesday, July 15th. Zacks Research upgraded Liberty Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, June 22nd. The Goldman Sachs Group reissued a “neutral” rating and issued a $31.00 price target on shares of Liberty Energy in a research note on Wednesday, June 3rd. Stifel Nicolaus lifted their target price on Liberty Energy from $28.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Finally, Piper Sandler boosted their target price on Liberty Energy from $32.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $32.09.

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.