Jennison Associates LLC Sells 33,425 Shares of Liberty Energy Inc. $LBRT

Jennison Associates LLC lessened its position in Liberty Energy Inc. (NYSE:LBRT) by 39.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 51,175 shares of the company’s stock after selling 33,425 shares during the quarter. Jennison Associates LLC’s holdings in Liberty Energy were worth $945,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of LBRT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Liberty Energy by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,205 shares of the company’s stock worth $1,491,000 after acquiring an additional 4,095 shares in the last quarter. NewEdge Advisors LLC increased its stake in Liberty Energy by 1,992.2% in the 1st quarter. NewEdge Advisors LLC now owns 12,030 shares of the company’s stock valued at $190,000 after buying an additional 11,455 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Liberty Energy by 0.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 868,978 shares of the company’s stock valued at $13,756,000 after buying an additional 4,955 shares during the last quarter. Intech Investment Management LLC lifted its position in Liberty Energy by 22.0% during the 1st quarter. Intech Investment Management LLC now owns 81,446 shares of the company’s stock worth $1,289,000 after buying an additional 14,663 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Liberty Energy during the 2nd quarter worth about $119,000. Institutional investors own 98.22% of the company’s stock.

Liberty Energy Price Performance

Shares of NYSE LBRT opened at $32.65 on Monday. The company has a quick ratio of 1.97, a current ratio of 2.21 and a debt-to-equity ratio of 0.75. The business’s 50 day moving average price is $29.08 and its two-hundred day moving average price is $22.83. The company has a market cap of $5.33 billion, a PE ratio of 35.88 and a beta of 0.56. Liberty Energy Inc. has a twelve month low of $9.90 and a twelve month high of $34.42.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.19. Liberty Energy had a return on equity of 1.41% and a net margin of 3.71%.The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $954.71 million. During the same period last year, the firm posted $0.04 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. On average, analysts predict that Liberty Energy Inc. will post -0.19 EPS for the current year.

Liberty Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.36 annualized dividend and a yield of 1.1%. Liberty Energy’s dividend payout ratio (DPR) is currently 39.56%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LBRT shares. Citigroup raised their price objective on Liberty Energy from $21.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $32.00 price target on shares of Liberty Energy in a research report on Friday, April 24th. Barclays upped their price objective on Liberty Energy from $24.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Monday, April 27th. TD Cowen raised their target price on shares of Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a research note on Friday, January 30th. Finally, UBS Group boosted their target price on shares of Liberty Energy from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.17.

Insiders Place Their Bets

In other Liberty Energy news, CFO Michael Stock sold 25,000 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $25.38, for a total value of $634,500.00. Following the transaction, the chief financial officer directly 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arjun N. Murti acquired 9,696 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was bought 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 approximately $710,978.72. This trade represents a 54.25% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 2.00% 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.