Amalgamated Bank Purchases 1,711 Shares of Liberty Energy Inc. (NYSE:LBRT)

Amalgamated Bank increased its position in Liberty Energy Inc. (NYSE:LBRT) by 3.7% during the third quarter, Holdings Channel reports. The firm owned 48,494 shares of the company’s stock after buying an additional 1,711 shares during the quarter. Amalgamated Bank’s holdings in Liberty Energy were worth $926,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of LBRT. Lord Abbett & CO. LLC bought a new position in Liberty Energy during the first quarter worth $27,809,000. Canoe Financial LP lifted its stake in shares of Liberty Energy by 20.4% during the 3rd quarter. Canoe Financial LP now owns 4,124,695 shares of the company’s stock worth $79,408,000 after buying an additional 699,500 shares during the last quarter. Hennessy Advisors Inc. boosted its holdings in shares of Liberty Energy by 48.0% during the 2nd quarter. Hennessy Advisors Inc. now owns 1,981,100 shares of the company’s stock worth $41,385,000 after buying an additional 642,700 shares during the period. American Century Companies Inc. grew its stake in Liberty Energy by 17.6% in the 2nd quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock valued at $82,754,000 after buying an additional 594,051 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in Liberty Energy by 345.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 573,200 shares of the company’s stock valued at $11,974,000 after acquiring an additional 444,500 shares during the period. 98.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LBRT shares. Barclays reduced their price objective on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. TD Cowen decreased their price objective on Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Friday, July 19th. Citigroup downgraded Liberty Energy from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $25.00 to $19.00 in a report on Friday, October 18th. Royal Bank of Canada decreased their price target on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Finally, Wells Fargo & Company lowered their price target on shares of Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Liberty Energy has an average rating of “Moderate Buy” and a consensus target price of $22.89.

Insider Activity

In related news, CFO Michael Stock sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $20.01, for a total transaction of $300,150.00. Following the completion of the transaction, the chief financial officer now directly owns 750,207 shares in the company, valued at $15,011,642.07. This represents a 1.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $19.77, for a total transaction of $395,400.00. Following the completion of the transaction, the chief executive officer now directly owns 2,638,813 shares of the company’s stock, valued at approximately $52,169,333.01. The trade was a 0.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 99,037 shares of company stock worth $1,911,802. Insiders own 3.60% of the company’s stock.

Liberty Energy Stock Down 1.2 %

Shares of NYSE LBRT opened at $17.34 on Friday. Liberty Energy Inc. has a 52 week low of $16.57 and a 52 week high of $24.75. The stock’s fifty day moving average is $19.01 and its 200 day moving average is $20.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 1.23. The stock has a market capitalization of $2.83 billion, a P/E ratio of 8.26 and a beta of 1.70.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Wednesday, October 16th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.10). The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. Liberty Energy’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Sell-side analysts forecast that Liberty Energy Inc. will post 1.75 earnings per share for the current fiscal year.

Liberty Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Friday, December 6th. This is an increase from Liberty Energy’s previous quarterly dividend of $0.07. Liberty Energy’s dividend payout ratio (DPR) is currently 15.24%.

Liberty Energy Company 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.