Strs Ohio Increases Stock Holdings in Liberty Energy Inc. (NYSE:LBRT)

Strs Ohio increased its stake in Liberty Energy Inc. (NYSE:LBRT) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,200 shares of the company’s stock after purchasing an additional 1,300 shares during the period. Strs Ohio’s holdings in Liberty Energy were worth $1,092,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Louisiana State Employees Retirement System bought a new position in shares of Liberty Energy in the fourth quarter worth approximately $1,393,000. Friedenthal Financial bought a new position in shares of Liberty Energy in the fourth quarter worth approximately $699,000. Perigon Wealth Management LLC increased its position in shares of Liberty Energy by 14.6% in the fourth quarter. Perigon Wealth Management LLC now owns 24,244 shares of the company’s stock worth $440,000 after purchasing an additional 3,087 shares during the last quarter. Cerity Partners LLC bought a new position in shares of Liberty Energy in the fourth quarter worth approximately $6,057,000. Finally, Mutual of America Capital Management LLC increased its position in shares of Liberty Energy by 396.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 134,970 shares of the company’s stock worth $2,448,000 after purchasing an additional 107,795 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors.

Liberty Energy Stock Up 3.2 %

Shares of Liberty Energy stock opened at $22.82 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.48. Liberty Energy Inc. has a 52-week low of $11.62 and a 52-week high of $23.31. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 8.31, a P/E/G ratio of 1.11 and a beta of 1.85. The company’s 50 day moving average price is $21.25 and its 200-day moving average price is $19.75.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Thursday, April 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.06). Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the business posted $0.90 EPS. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. Equities research analysts forecast that Liberty Energy Inc. will post 2.58 EPS for the current year.

Liberty Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Wednesday, June 5th. Liberty Energy’s payout ratio is 10.22%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LBRT shares. Bank of America upped their price objective on shares of Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Barclays increased their price target on shares of Liberty Energy from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. TD Cowen increased their price target on shares of Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Piper Sandler increased their price target on shares of Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $24.00 price target on shares of Liberty Energy in a research report on Monday. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Liberty Energy currently has an average rating of “Moderate Buy” and an average target price of $24.30.

Insider Buying and Selling

In related news, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $20.27, for a total value of $405,400.00. Following the completion of the sale, the chief executive officer now owns 2,830,402 shares of the company’s stock, valued at $57,372,248.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director William F. Kimble sold 12,459 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $21.55, for a total value of $268,491.45. Following the completion of the sale, the director now owns 69,963 shares of the company’s stock, valued at $1,507,702.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $20.27, for a total value of $405,400.00. Following the completion of the sale, the chief executive officer now directly owns 2,830,402 shares of the company’s stock, valued at approximately $57,372,248.54. The disclosure for this sale can be found here. Insiders sold 98,459 shares of company stock valued at $2,077,491 over the last quarter. 3.70% of the stock is owned by company insiders.

About Liberty Energy

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.