Liberty Energy Inc. $LBRT Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its stake in shares of Liberty Energy Inc. (NYSE:LBRT) by 14.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 631,757 shares of the company’s stock after purchasing an additional 80,322 shares during the quarter. Public Sector Pension Investment Board owned about 0.39% of Liberty Energy worth $7,796,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sourcerock Group LLC acquired a new position in Liberty Energy in the 2nd quarter valued at $23,653,000. Bridgeway Capital Management LLC increased its stake in shares of Liberty Energy by 285.9% during the second quarter. Bridgeway Capital Management LLC now owns 1,114,559 shares of the company’s stock worth $12,795,000 after acquiring an additional 825,759 shares during the period. Callodine Capital Management LP raised its holdings in Liberty Energy by 203.3% during the second quarter. Callodine Capital Management LP now owns 1,057,000 shares of the company’s stock worth $12,134,000 after purchasing an additional 708,453 shares in the last quarter. American Century Companies Inc. lifted its position in Liberty Energy by 10.6% in the second quarter. American Century Companies Inc. now owns 6,093,383 shares of the company’s stock valued at $69,952,000 after purchasing an additional 584,774 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new stake in Liberty Energy in the 2nd quarter valued at approximately $6,650,000. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Liberty Energy

In other Liberty Energy news, CFO Michael Stock 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 $25.38, for a total transaction of $634,500.00. Following the completion of the transaction, the chief financial officer owned 784,819 shares of the company’s stock, valued at approximately $19,918,706.22. This trade represents a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider R Sean Elliott sold 25,000 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $25.40, for a total value of $635,000.00. Following the completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. 1.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. 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. Stifel Nicolaus raised their target price on Liberty Energy from $23.00 to $28.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Zacks Research upgraded shares of Liberty Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, December 15th. Wall Street Zen upgraded shares of Liberty Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $26.00 price objective on shares of Liberty Energy in a research note on Wednesday, February 4th. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.08.

Liberty Energy Stock Up 3.0%

Liberty Energy stock opened at $26.67 on Wednesday. Liberty Energy Inc. has a fifty-two week low of $9.50 and a fifty-two week high of $27.21. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 29.97 and a beta of 0.49. The stock’s fifty day moving average is $21.02 and its two-hundred day moving average is $16.42. 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 released its quarterly earnings results on Wednesday, January 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.21. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $880.59 million. Liberty Energy had a return on equity of 1.24% and a net margin of 3.69%.The business’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS. Analysts predict that Liberty Energy Inc. will post 0.58 EPS for the current fiscal year.

Liberty Energy Announces Dividend

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

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. 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.