Liberty Energy Inc. $LBRT Stake Reduced by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its stake in Liberty Energy Inc. (NYSE:LBRT) by 42.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 975,004 shares of the company’s stock after selling 732,913 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.60% of Liberty Energy worth $18,408,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kelleher Financial Advisors bought a new stake in Liberty Energy in the 3rd quarter valued at about $29,000. Advisory Services Network LLC acquired a new stake in shares of Liberty Energy in the third quarter valued at approximately $35,000. Smartleaf Asset Management LLC increased its stake in shares of Liberty Energy by 213.7% in the second quarter. Smartleaf Asset Management LLC now owns 3,607 shares of the company’s stock valued at $42,000 after purchasing an additional 2,457 shares during the period. CIBC Private Wealth Group LLC raised its holdings in shares of Liberty Energy by 1,163.9% during the third quarter. CIBC Private Wealth Group LLC now owns 3,855 shares of the company’s stock valued at $48,000 after buying an additional 3,550 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Liberty Energy by 42.3% during the fourth quarter. GAMMA Investing LLC now owns 4,360 shares of the company’s stock worth $80,000 after buying an additional 1,297 shares during the period. Institutional investors and hedge funds own 98.22% of the company’s stock.

Liberty Energy Trading Down 0.0%

Shares of Liberty Energy stock opened at $28.09 on Friday. The business has a fifty day simple moving average of $27.33 and a 200-day simple moving average of $20.48. Liberty Energy Inc. has a fifty-two week low of $9.50 and a fifty-two week high of $32.40. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of 31.56 and a beta of 0.48. The company has a quick ratio of 0.96, a current ratio of 1.22 and a debt-to-equity ratio of 0.22.

Liberty Energy (NYSE:LBRT) last released its earnings results on Wednesday, January 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.21. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $880.59 million. Liberty Energy had a return on equity of 1.24% and a net margin of 3.69%.Liberty Energy’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. On average, equities analysts forecast that Liberty Energy Inc. will post 0.58 EPS for the current fiscal year.

Liberty Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Wednesday, March 4th. Liberty Energy’s dividend payout ratio (DPR) is presently 40.45%.

Insiders Place Their Bets

In other news, insider R Sean Elliott sold 25,000 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $25.40, for a total transaction of $635,000.00. Following the completion of the sale, the insider directly owned 343,150 shares of the company’s stock, valued at $8,716,010. This trade represents a 6.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michael Stock sold 25,000 shares of Liberty Energy stock in a transaction on Friday, February 6th. The stock was sold at an average price of $25.38, for a total value of $634,500.00. Following the completion of the transaction, the chief financial officer owned 784,819 shares in the company, valued at $19,918,706.22. The trade was a 3.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Zacks Research raised Liberty Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, December 15th. Bank of America raised Liberty Energy from a “neutral” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Tuesday, February 17th. Royal Bank Of Canada restated a “sector perform” rating on shares of Liberty Energy in a research note on Thursday, January 15th. Citigroup upped their price objective on shares of Liberty Energy from $21.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Finally, Stifel Nicolaus increased their target price on shares of Liberty Energy from $23.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.42.

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.