Edgestream Partners L.P. Sells 72,246 Shares of Liberty Energy Inc. $LBRT

Edgestream Partners L.P. cut its position in Liberty Energy Inc. (NYSE:LBRT) by 41.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,069 shares of the company’s stock after selling 72,246 shares during the period. Edgestream Partners L.P.’s holdings in Liberty Energy were worth $2,940,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Liberty Energy by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 18,096,443 shares of the company’s stock worth $334,060,000 after buying an additional 97,998 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Liberty Energy by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 9,233,668 shares of the company’s stock valued at $265,931,000 after acquiring an additional 431,269 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Liberty Energy by 78.5% in the third quarter. Franklin Resources Inc. now owns 8,575,840 shares of the company’s stock valued at $105,826,000 after acquiring an additional 3,771,724 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Liberty Energy by 901.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,431,125 shares of the company’s stock worth $127,616,000 after acquiring an additional 3,988,535 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Liberty Energy by 184.7% in the 4th quarter. Millennium Management LLC now owns 3,287,466 shares of the company’s stock worth $60,687,000 after acquiring an additional 2,132,685 shares in the last quarter. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Liberty Energy Price Performance

Shares of LBRT stock opened at $18.65 on Friday. Liberty Energy Inc. has a 1 year low of $9.90 and a 1 year high of $34.48. The firm’s 50 day moving average is $25.69 and its 200-day moving average is $27.10. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 3.57 and a beta of 0.54. The company has a current ratio of 1.99, a quick ratio of 1.75 and a debt-to-equity ratio of 0.74.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Liberty Energy had a net margin of 2.92% and a return on equity of 1.14%. Liberty Energy’s revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 earnings per share. Sell-side analysts forecast that Liberty Energy Inc. will post 0.25 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, September 4th. Liberty Energy’s dividend payout ratio (DPR) is presently 48.65%.

Insider Activity

In other news, Chairman William F. Kimble sold 7,350 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $33.92, for a total transaction of $249,312.00. Following the completion of the sale, the chairman owned 89,805 shares in the company, valued at $3,046,185.60. The trade was a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Arjun N. Murti bought 14,053 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were purchased at an average price of $17.79 per share, with a total value of $250,002.87. Following the transaction, the director owned 41,621 shares of the company’s stock, valued at $740,437.59. The trade was a 50.98% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 54,012 shares of company stock valued at $1,673,803. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

LBRT has been the topic of a number of research analyst reports. The Goldman Sachs Group restated a “neutral” rating and set a $31.00 price target on shares of Liberty Energy in a research report on Wednesday, June 3rd. UBS Group reiterated a “buy” rating on shares of Liberty Energy in a research report on Friday, June 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Liberty Energy in a research note on Wednesday. Morgan Stanley set a $32.00 target price on Liberty Energy in a report on Friday, July 24th. Finally, Wall Street Zen lowered Liberty Energy from a “hold” rating to a “sell” rating in a research note on Saturday. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Liberty Energy presently has a consensus rating of “Moderate Buy” and an average target price of $31.09.

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.