Envestnet Asset Management Inc. Has $10.55 Million Holdings in Liberty Energy Inc. $LBRT

Envestnet Asset Management Inc. raised its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 6.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 854,911 shares of the company’s stock after purchasing an additional 48,706 shares during the period. Envestnet Asset Management Inc. owned approximately 0.53% of Liberty Energy worth $10,550,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. American Century Companies Inc. increased its holdings in shares of Liberty Energy by 10.6% during the second quarter. American Century Companies Inc. now owns 6,093,383 shares of the company’s stock worth $69,952,000 after buying an additional 584,774 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Liberty Energy by 21.7% during the second quarter. The Manufacturers Life Insurance Company now owns 2,967,041 shares of the company’s stock valued at $34,062,000 after purchasing an additional 529,023 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Liberty Energy by 20.4% during the second quarter. Bank of New York Mellon Corp now owns 2,161,558 shares of the company’s stock worth $24,815,000 after purchasing an additional 365,506 shares during the last quarter. Sourcerock Group LLC acquired a new position in shares of Liberty Energy in the second quarter valued at approximately $23,653,000. Finally, Bank of America Corp DE raised its holdings in Liberty Energy by 32.9% in the 2nd quarter. Bank of America Corp DE now owns 1,852,813 shares of the company’s stock valued at $21,270,000 after buying an additional 458,285 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LBRT has been the topic of a number of recent analyst reports. Bank of America upgraded shares of Liberty Energy from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Tuesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Liberty Energy in a research note on Monday, December 29th. The Goldman Sachs Group restated a “neutral” rating and set a $26.00 price objective on shares of Liberty Energy in a research note on Wednesday, February 4th. Morgan Stanley upped their price objective on Liberty Energy from $23.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Finally, Stifel Nicolaus raised their target price on Liberty Energy from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.08.

Liberty Energy Price Performance

NYSE LBRT opened at $27.15 on Thursday. Liberty Energy Inc. has a one year low of $9.50 and a one year high of $27.77. The stock has a 50-day moving average of $21.16 and a 200 day moving average of $16.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.96 and a current ratio of 1.22. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 30.50 and a beta of 0.49.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.21. Liberty Energy had a return on equity of 1.24% and a net margin of 3.69%.The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $880.59 million. During the same period in the previous year, the business earned $0.10 earnings per share. The business’s revenue was up 10.1% on a year-over-year basis. On average, sell-side analysts forecast that Liberty Energy Inc. will post 0.58 EPS for the current year.

Liberty Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, March 4th. Liberty Energy’s dividend payout ratio is currently 40.45%.

Insiders Place Their Bets

In related news, insider R Sean Elliott sold 25,000 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $25.40, for a total transaction of $635,000.00. Following the completion of the transaction, the insider owned 343,150 shares in the company, valued at $8,716,010. This represents a 6.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Stock sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $25.38, for a total value of $634,500.00. Following the completion of the sale, the chief financial officer owned 784,819 shares of the company’s stock, valued at $19,918,706.22. This trade represents a 3.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.90% 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. As of as of December 31, 2023, the company owned and operated a fleet of approximately 40 active hydraulic fracturing; and two sand mines in the Permian Basin.