Liberty Energy Inc. $LBRT Shares Bought by Citigroup Inc.

Citigroup Inc. raised its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 23.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 273,258 shares of the company’s stock after purchasing an additional 51,266 shares during the quarter. Citigroup Inc. owned 0.17% of Liberty Energy worth $3,372,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in Liberty Energy by 213.7% in the 2nd quarter. Smartleaf Asset Management LLC now owns 3,607 shares of the company’s stock worth $42,000 after buying an additional 2,457 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Liberty Energy by 460.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,832 shares of the company’s stock valued at $67,000 after acquiring an additional 4,791 shares during the last quarter. Covestor Ltd increased its stake in shares of Liberty Energy by 32.6% in the third quarter. Covestor Ltd now owns 6,358 shares of the company’s stock worth $78,000 after acquiring an additional 1,562 shares during the period. Meeder Asset Management Inc. raised its holdings in shares of Liberty Energy by 31.0% during the third quarter. Meeder Asset Management Inc. now owns 6,429 shares of the company’s stock worth $79,000 after purchasing an additional 1,521 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Liberty Energy by 45.2% during the second quarter. PNC Financial Services Group Inc. now owns 6,485 shares of the company’s stock worth $74,000 after purchasing an additional 2,020 shares during the last quarter. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Liberty Energy Stock Up 1.3%

Liberty Energy stock opened at $27.82 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.22 and a quick ratio of 0.96. The stock has a market capitalization of $4.51 billion, a PE ratio of 31.26 and a beta of 0.48. The business has a 50 day simple moving average of $23.20 and a 200-day simple moving average of $17.71. Liberty Energy Inc. has a 12 month low of $9.50 and a 12 month high of $28.94.

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

Liberty Energy Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have weighed in on LBRT. Wall Street Zen raised Liberty Energy from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Piper Sandler upgraded Liberty Energy from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $17.00 to $32.00 in a research note on Monday, February 2nd. Citigroup lifted their price target on Liberty Energy from $21.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. 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 report on Tuesday, February 17th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Liberty Energy in a research note on Monday, December 29th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.42.

Insider Buying and Selling

In related news, insider R Sean Elliott sold 25,000 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $25.40, for a total value of $635,000.00. Following the transaction, the insider directly owned 343,150 shares of the company’s stock, valued at approximately $8,716,010. This trade represents a 6.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Stock sold 25,000 shares of Liberty Energy stock in a transaction dated 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 sale, the chief financial officer owned 784,819 shares in the company, valued at approximately $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. Insiders own 1.90% of the company’s stock.

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.