Liberty Energy Inc. (NYSE:LBRT) Shares Sold by Sei Investments Co.

Sei Investments Co. lessened its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 0.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 235,147 shares of the company’s stock after selling 1,136 shares during the quarter. Sei Investments Co. owned 0.14% of Liberty Energy worth $4,912,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LBRT. Diversified Trust Co lifted its position in shares of Liberty Energy by 2.5% during the first quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock worth $427,000 after purchasing an additional 507 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Liberty Energy by 4.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 14,262 shares of the company’s stock worth $296,000 after acquiring an additional 543 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Liberty Energy by 2.4% in the 1st quarter. Perigon Wealth Management LLC now owns 24,815 shares of the company’s stock valued at $514,000 after acquiring an additional 571 shares during the last quarter. Andina Capital Management LLC raised its position in shares of Liberty Energy by 3.9% during the 2nd quarter. Andina Capital Management LLC now owns 18,599 shares of the company’s stock valued at $389,000 after acquiring an additional 691 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Liberty Energy by 27.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock worth $59,000 after purchasing an additional 709 shares during the last quarter. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Michael Stock sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $22.92, for a total value of $458,400.00. Following the completion of the transaction, the chief financial officer now directly owns 765,207 shares in the company, valued at $17,538,544.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 64,374 shares of company stock worth $1,353,698. 3.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

LBRT has been the subject of several recent research reports. TD Cowen lowered their target price on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Friday, July 19th. Barclays dropped their price objective on shares of Liberty Energy from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Piper Sandler decreased their target price on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, Bank of America lowered their target price on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.78.

Liberty Energy Stock Performance

Shares of NYSE LBRT opened at $19.95 on Wednesday. Liberty Energy Inc. has a 12-month low of $16.33 and a 12-month high of $24.75. The company has a market cap of $3.32 billion, a PE ratio of 7.28, a P/E/G ratio of 1.24 and a beta of 1.68. The stock has a 50 day simple moving average of $20.53 and a 200-day simple moving average of $21.39. The company has a current ratio of 1.35, a quick ratio of 1.07 and a debt-to-equity ratio of 0.17.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 EPS. On average, equities research analysts forecast that Liberty Energy Inc. will post 2.18 EPS for the current year.

Liberty Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a dividend of $0.07 per share. The ex-dividend date was Friday, September 6th. This represents a $0.28 annualized dividend and a yield of 1.40%. Liberty Energy’s payout ratio is 10.22%.

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.