Callodine Capital Management LP Increases Stock Position in Liberty Energy Inc. $LBRT

Callodine Capital Management LP grew its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 97.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,089,283 shares of the company’s stock after buying an additional 1,032,283 shares during the period. Liberty Energy accounts for approximately 2.3% of Callodine Capital Management LP’s holdings, making the stock its 19th biggest position. Callodine Capital Management LP owned 1.29% of Liberty Energy worth $25,782,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LBRT. Smartleaf Asset Management LLC lifted its position in Liberty Energy by 213.7% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,607 shares of the company’s stock valued at $42,000 after acquiring an additional 2,457 shares during the period. Aster Capital Management DIFC Ltd boosted its stake in Liberty Energy by 931.1% during the third quarter. Aster Capital Management DIFC Ltd now owns 5,372 shares of the company’s stock worth $66,000 after acquiring an additional 4,851 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Liberty Energy by 460.2% in the second quarter. EverSource Wealth Advisors LLC now owns 5,832 shares of the company’s stock worth $67,000 after purchasing an additional 4,791 shares during the period. Covestor Ltd grew its holdings in 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 purchasing an additional 1,562 shares during the period. Finally, Meeder Asset Management Inc. increased its stake 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 valued at $79,000 after purchasing an additional 1,521 shares in the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Liberty Energy from $23.00 to $28.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Bank of America upgraded Liberty Energy from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Tuesday, February 17th. Zacks Research raised Liberty Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, December 15th. TD Cowen boosted their target price on Liberty Energy from $19.00 to $21.00 and gave the stock a “hold” rating in a report on Friday, January 30th. Finally, UBS Group reissued a “buy” rating and issued a $34.00 target price on shares of Liberty Energy in a research note on Friday, January 30th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $26.42.

Insiders Place Their Bets

In other news, CFO Michael Stock sold 25,000 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $25.38, for a total transaction of $634,500.00. Following the transaction, the chief financial officer directly owned 784,819 shares of the company’s stock, valued at $19,918,706.22. This represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Arjun N. Murti acquired 9,696 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were acquired at an average cost of $25.79 per share, for a total transaction of $250,059.84. Following the completion of the transaction, the director directly owned 27,568 shares of the company’s stock, valued at $710,978.72. The trade was a 54.25% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.90% of the company’s stock.

Liberty Energy Trading Down 0.2%

Shares of NYSE LBRT opened at $30.23 on Friday. The firm’s 50 day moving average price is $24.44 and its 200-day moving average price is $18.46. The company has a market cap of $4.90 billion, a PE ratio of 33.96 and a beta of 0.48. Liberty Energy Inc. has a 52-week low of $9.50 and a 52-week high of $31.16. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.96 and a current ratio of 1.22.

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

Liberty Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, March 4th. Liberty Energy’s dividend payout ratio (DPR) is currently 40.45%.

Liberty Energy 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. 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.