Corigliano Investment Advisers LLC Invests $3.83 Million in Liberty Energy Inc. $LBRT

Corigliano Investment Advisers LLC purchased a new position in shares of Liberty Energy Inc. (NYSE:LBRT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 207,600 shares of the company’s stock, valued at approximately $3,832,000. Liberty Energy makes up about 1.4% of Corigliano Investment Advisers LLC’s investment portfolio, making the stock its 22nd biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Maryland State Retirement & Pension System boosted its position in shares of Liberty Energy by 2.0% during the fourth quarter. Maryland State Retirement & Pension System now owns 23,760 shares of the company’s stock worth $439,000 after purchasing an additional 477 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Liberty Energy by 2.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 22,583 shares of the company’s stock valued at $417,000 after acquiring an additional 500 shares in the last quarter. First Horizon Corp lifted its position in Liberty Energy by 58.2% in the 4th quarter. First Horizon Corp now owns 1,620 shares of the company’s stock valued at $30,000 after acquiring an additional 596 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in Liberty Energy by 1.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 37,085 shares of the company’s stock valued at $685,000 after acquiring an additional 600 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Liberty Energy by 39.9% in the 4th quarter. Quadrant Capital Group LLC now owns 2,140 shares of the company’s stock valued at $40,000 after acquiring an additional 610 shares in the last quarter. 98.22% of the stock is owned by institutional investors.

Liberty Energy Trading Down 0.6%

Shares of NYSE:LBRT opened at $27.19 on Thursday. The company’s 50-day moving average price is $30.41 and its two-hundred day moving average price is $26.06. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.21 and a quick ratio of 1.97. Liberty Energy Inc. has a one year low of $9.90 and a one year high of $34.48. The stock has a market capitalization of $4.44 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 2.34 and a beta of 0.51.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.19. Liberty Energy had a net margin of 3.71% and a return on equity of 1.41%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $954.71 million. During the same period in the previous year, the firm posted $0.04 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities analysts forecast 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. Shareholders of record on Thursday, June 4th will be given 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 1.3%. Liberty Energy’s payout ratio is 39.56%.

Analysts Set New Price Targets

Several research firms recently commented on LBRT. Barclays boosted their price objective on shares of Liberty Energy from $29.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Energy in a research report on Friday, May 1st. Morgan Stanley set a $36.00 price objective on shares of Liberty Energy in a research report on Monday, April 27th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $32.00 price objective on shares of Liberty Energy in a research report on Friday, April 24th. Finally, Piper Sandler boosted their price objective on shares of Liberty Energy from $32.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.18.

Insider Activity

In other Liberty Energy news, CFO Michael Stock sold 3,333 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $31.00, for a total transaction of $103,323.00. Following the sale, the chief financial officer directly owned 783,710 shares of the company’s stock, valued at $24,295,010. The trade was a 0.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman William F. Kimble sold 7,350 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $33.92, for a total transaction of $249,312.00. Following the sale, the chairman directly owned 89,805 shares in the company, valued at $3,046,185.60. This trade represents a 7.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 44,013 shares of company stock worth $1,414,929 over the last three months. 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.