Liberty Energy Inc. $LBRT Shares Purchased by Vestcor Inc

Vestcor Inc boosted its position in Liberty Energy Inc. (NYSE:LBRT) by 490.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,000 shares of the company’s stock after acquiring an additional 62,302 shares during the quarter. Vestcor Inc’s holdings in Liberty Energy were worth $926,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SummerHaven Investment Management LLC purchased a new position in Liberty Energy in the 3rd quarter worth approximately $838,000. American Century Companies Inc. increased its position in shares of Liberty Energy by 10.6% in the 2nd quarter. American Century Companies Inc. now owns 6,093,383 shares of the company’s stock worth $69,952,000 after purchasing an additional 584,774 shares during the last quarter. Florida Financial Advisors LLC bought a new stake in Liberty Energy in the third quarter valued at about $1,318,000. Callodine Capital Management LP increased its stake 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 valued at $12,134,000 after purchasing an additional 708,453 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Liberty Energy by 20.4% during the 2nd 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 period. 98.22% of the stock is owned by institutional investors and hedge funds.

Liberty Energy Stock Down 1.0%

Shares of LBRT traded down $0.30 during trading hours on Friday, reaching $30.00. The company’s stock had a trading volume of 362,765 shares, compared to its average volume of 4,447,125. Liberty Energy Inc. has a 1-year low of $9.50 and a 1-year high of $31.16. The company has a quick ratio of 0.96, a current ratio of 1.22 and a debt-to-equity ratio of 0.22. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 33.71 and a beta of 0.48. The company has a 50 day moving average of $24.21 and a two-hundred day moving average of $18.33.

Liberty Energy (NYSE:LBRT) last issued its 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. 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 analyst estimates of $880.59 million. During the same quarter last year, the business posted $0.10 EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, research analysts predict that Liberty Energy Inc. will post 0.58 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LBRT. Stifel Nicolaus lifted their price target on Liberty Energy from $23.00 to $28.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Morgan Stanley increased their price objective on shares of Liberty Energy from $23.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Barclays upped their price objective on Liberty Energy from $17.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. 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 lifted their price target on shares of Liberty Energy from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 4th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Liberty Energy has a consensus rating of “Moderate Buy” and an average price target of $26.42.

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, insider R Sean Elliott sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $25.40, for a total value 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. The trade was a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 completion of the sale, the chief financial officer 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 1.90% of the company’s stock.

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.