333,929 Shares in Liberty Energy Inc. (NYSE:LBRT) Bought by Cerity Partners LLC

Cerity Partners LLC bought a new position in shares of Liberty Energy Inc. (NYSE:LBRT) in the fourth quarter, HoldingsChannel reports. The firm bought 333,929 shares of the company’s stock, valued at approximately $6,057,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. American Century Companies Inc. raised its stake in Liberty Energy by 12.4% during the third quarter. American Century Companies Inc. now owns 2,241,076 shares of the company’s stock valued at $41,505,000 after purchasing an additional 247,074 shares in the last quarter. Public Sector Pension Investment Board purchased a new stake in Liberty Energy during the third quarter valued at $3,549,000. Envestnet Asset Management Inc. raised its stake in Liberty Energy by 37.8% during the third quarter. Envestnet Asset Management Inc. now owns 237,090 shares of the company’s stock valued at $4,391,000 after purchasing an additional 65,062 shares in the last quarter. Gendell Jeffrey L raised its stake in Liberty Energy by 27.4% during the third quarter. Gendell Jeffrey L now owns 891,452 shares of the company’s stock valued at $16,510,000 after purchasing an additional 191,452 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Liberty Energy by 455.5% during the third quarter. Invesco Ltd. now owns 1,536,812 shares of the company’s stock valued at $28,462,000 after purchasing an additional 1,260,142 shares in the last quarter. Institutional investors own 98.22% of the company’s stock.

Insiders Place Their Bets

In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $20.27, for a total transaction of $405,400.00. Following the transaction, the chief executive officer now directly owns 2,830,402 shares in the company, valued at approximately $57,372,248.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $20.27, for a total value of $405,400.00. Following the sale, the chief executive officer now directly owns 2,830,402 shares in the company, valued at approximately $57,372,248.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ryan T. Gosney sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total transaction of $123,000.00. Following the completion of the sale, the chief accounting officer now owns 140,706 shares in the company, valued at $2,884,473. The disclosure for this sale can be found here. Insiders have sold a total of 98,459 shares of company stock worth $2,077,491 in the last three months. Corporate insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LBRT shares. Bank of America increased their target price on shares of Liberty Energy from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday. Wells Fargo & Company reduced their target price on shares of Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, December 21st. Piper Sandler increased their target price on shares of Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Finally, Morgan Stanley increased their target price on shares of Liberty Energy from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.67.

Liberty Energy Trading Down 2.3 %

LBRT stock opened at $21.60 on Wednesday. The company has a market capitalization of $3.60 billion, a PE ratio of 6.83, a P/E/G ratio of 1.09 and a beta of 1.85. Liberty Energy Inc. has a 12 month low of $11.62 and a 12 month high of $23.23. The firm’s 50-day moving average is $21.04 and its 200 day moving average is $19.61. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.49 and a quick ratio of 1.17.

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

Liberty Energy Announces Dividend

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

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.