UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Position in Liberty Energy Inc. (NYSE:LBRT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 321,358 shares of the company’s stock after selling 8,904 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.20% of Liberty Energy worth $6,135,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EdgeRock Capital LLC purchased a new stake in Liberty Energy in the second quarter valued at approximately $32,000. Covestor Ltd grew its position in shares of Liberty Energy by 96.8% during the third quarter. Covestor Ltd now owns 1,704 shares of the company’s stock worth $33,000 after acquiring an additional 838 shares during the last quarter. nVerses Capital LLC grew its position in shares of Liberty Energy by 45.0% during the second quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock worth $61,000 after acquiring an additional 900 shares during the last quarter. GAMMA Investing LLC grew its position in Liberty Energy by 82.1% in the 3rd quarter. GAMMA Investing LLC now owns 3,174 shares of the company’s stock valued at $61,000 after buying an additional 1,431 shares in the last quarter. Finally, US Bancorp DE grew its position in Liberty Energy by 93.2% in the 3rd quarter. US Bancorp DE now owns 4,180 shares of the company’s stock valued at $80,000 after buying an additional 2,016 shares in the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $19.77, for a total transaction of $395,400.00. Following the completion of the sale, the chief executive officer now owns 2,638,813 shares of the company’s stock, valued at approximately $52,169,333.01. This represents a 0.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael Stock sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $17.21, for a total transaction of $86,050.00. Following the sale, the chief financial officer now directly owns 725,207 shares of the company’s stock, valued at approximately $12,480,812.47. This trade represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,037 shares of company stock worth $2,088,232 in the last quarter. Corporate insiders own 3.60% of the company’s stock.

Liberty Energy Trading Up 6.1 %

NYSE LBRT opened at $18.49 on Wednesday. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 8.80 and a beta of 1.71. The stock’s 50 day moving average price is $18.37 and its two-hundred day moving average price is $20.07. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 1.23. Liberty Energy Inc. has a 52 week low of $16.57 and a 52 week high of $24.75.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Liberty Energy’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, analysts anticipate that Liberty Energy Inc. will post 1.75 earnings per share for the current fiscal year.

Liberty Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.73%. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, December 6th. Liberty Energy’s dividend payout ratio (DPR) is currently 15.24%.

Analyst Ratings Changes

LBRT has been the subject of a number of research analyst reports. Royal Bank of Canada cut their price target on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Citigroup downgraded shares of Liberty Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $25.00 to $19.00 in a research note on Friday, October 18th. Evercore ISI raised Liberty Energy to a “strong-buy” rating in a research report on Thursday, October 17th. Atb Cap Markets cut Liberty Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company lowered their price objective on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.89.

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.