Eventide Asset Management LLC Makes New Investment in Liberty Energy Inc. $LBRT

Eventide Asset Management LLC purchased a new position in shares of Liberty Energy Inc. (NYSE:LBRT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,970,459 shares of the company’s stock, valued at approximately $36,394,000. Eventide Asset Management LLC owned 1.22% of Liberty Energy at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new stake in Liberty Energy during the fourth quarter worth about $29,000. Kelleher Financial Advisors purchased a new stake in Liberty Energy during the third quarter worth about $29,000. First Horizon Corp increased its stake in Liberty Energy by 58.2% during the fourth quarter. First Horizon Corp now owns 1,620 shares of the company’s stock worth $30,000 after purchasing an additional 596 shares during the period. International Assets Investment Management LLC purchased a new stake in Liberty Energy during the fourth quarter worth about $32,000. Finally, Advisory Services Network LLC purchased a new stake in Liberty Energy during the third quarter worth about $35,000. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on LBRT shares. Weiss Ratings reissued a “hold (c)” rating on shares of Liberty Energy in a research report on Friday, May 1st. Barclays boosted their price objective on Liberty Energy from $29.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. The Goldman Sachs Group reissued a “neutral” rating and set a $31.00 price objective on shares of Liberty Energy in a research report on Wednesday, June 3rd. Stifel Nicolaus boosted their price objective on Liberty Energy from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $32.00 price objective on shares of Liberty Energy in a research report on Friday, April 24th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Liberty Energy has a consensus rating of “Moderate Buy” and an average target price of $32.18.

Insider Buying and Selling

In related news, CFO Michael Stock sold 19,998 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $33.48, for a total value of $669,533.04. Following the completion of the transaction, the chief financial officer directly owned 800,375 shares of the company’s stock, valued at $26,796,555. This represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman William F. Kimble sold 7,350 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $33.92, for a total value of $249,312.00. Following the completion of the transaction, the chairman directly owned 89,805 shares of the company’s stock, valued at $3,046,185.60. This trade represents a 7.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 44,013 shares of company stock valued at $1,414,929 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Liberty Energy Stock Performance

Shares of LBRT opened at $28.81 on Friday. The stock has a 50 day moving average price of $30.44 and a 200 day moving average price of $25.79. 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 company has a market capitalization of $4.70 billion, a price-to-earnings ratio of 31.66, a price-to-earnings-growth ratio of 2.47 and a beta of 0.51. Liberty Energy Inc. has a 52-week low of $9.90 and a 52-week high of $34.48.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings results 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. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $954.71 million. Liberty Energy had a return on equity of 1.41% and a net margin of 3.71%.The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.04 earnings per share. Research analysts predict that Liberty Energy Inc. will post 0.25 EPS for the current fiscal year.

Liberty Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, June 4th. Liberty Energy’s dividend payout ratio is 39.56%.

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.