Raymond James & Associates Sells 2,149 Shares of Liberty Energy Inc. (NYSE:LBRT)

Raymond James & Associates lessened its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 3.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 63,029 shares of the company’s stock after selling 2,149 shares during the period. Raymond James & Associates’ holdings in Liberty Energy were worth $1,143,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of Liberty Energy in the 4th quarter worth about $673,000. Ziegler Capital Management LLC raised its position in shares of Liberty Energy by 6.7% in the 4th quarter. Ziegler Capital Management LLC now owns 49,826 shares of the company’s stock worth $904,000 after purchasing an additional 3,127 shares during the last quarter. Diversified Trust Co raised its position in shares of Liberty Energy by 7.5% in the 4th quarter. Diversified Trust Co now owns 20,110 shares of the company’s stock worth $365,000 after purchasing an additional 1,402 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Liberty Energy by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 20,546,529 shares of the company’s stock worth $380,522,000 after purchasing an additional 893,563 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in shares of Liberty Energy in the 3rd quarter worth about $741,000. Institutional investors own 98.22% of the company’s stock.

Insider Activity

In related news, Director William F. Kimble sold 12,459 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $21.55, for a total transaction of $268,491.45. Following the completion of the transaction, the director now directly owns 69,963 shares in the company, valued at approximately $1,507,702.65. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider R Sean Elliott sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total transaction of $410,000.00. Following the completion of the transaction, the insider now directly owns 218,530 shares in the company, valued at approximately $4,479,865. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William F. Kimble sold 12,459 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $21.55, for a total value of $268,491.45. Following the transaction, the director now owns 69,963 shares of the company’s stock, valued at $1,507,702.65. The disclosure for this sale can be found here. Insiders sold 98,459 shares of company stock valued at $2,077,491 in the last quarter. 3.60% of the stock is currently owned by insiders.

Liberty Energy Price Performance

NYSE LBRT opened at $22.38 on Friday. Liberty Energy Inc. has a 52 week low of $11.62 and a 52 week high of $23.31. The firm has a market capitalization of $3.73 billion, a P/E ratio of 8.17, a PEG ratio of 1.08 and a beta of 1.85. The company has a quick ratio of 1.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $21.20 and a 200-day moving average price of $19.68.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings results on Thursday, April 18th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.06). Liberty Energy had a net margin of 10.43% and a return on equity of 26.46%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the company earned $0.90 EPS. Liberty Energy’s revenue for the quarter was down 12.8% compared to the same quarter last year. Equities research analysts anticipate that Liberty Energy Inc. will post 2.61 earnings per share for the current year.

Liberty Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Wednesday, June 5th. Liberty Energy’s payout ratio is currently 10.22%.

Analysts Set New Price Targets

Several research firms have recently issued reports on LBRT. Barclays lifted their price target on Liberty Energy from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday. Royal Bank of Canada boosted their target price on Liberty Energy from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday. Bank of America boosted their target price on Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Piper Sandler boosted their target price on Liberty Energy from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Finally, Morgan Stanley boosted their target price on Liberty Energy from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.30.

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.