Liberty Energy Inc. (NYSE:LBRT) Shares Sold by Fmr LLC

Fmr LLC reduced its stake in Liberty Energy Inc. (NYSE:LBRT) by 16.1% in the 4th quarter, Holdings Channel reports. The firm owned 15,203,654 shares of the company’s stock after selling 2,911,628 shares during the quarter. Fmr LLC owned 0.09% of Liberty Energy worth $302,401,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP boosted its position in shares of Liberty Energy by 237.5% in the third quarter. Quarry LP now owns 1,991 shares of the company’s stock worth $38,000 after buying an additional 1,401 shares during the period. CIBC Private Wealth Group LLC lifted its position in Liberty Energy by 257.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,197 shares of the company’s stock worth $47,000 after acquiring an additional 1,583 shares in the last quarter. Blue Trust Inc. boosted its holdings in Liberty Energy by 604.9% in the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the company’s stock worth $47,000 after acquiring an additional 2,111 shares during the period. Spire Wealth Management acquired a new stake in Liberty Energy in the fourth quarter valued at approximately $60,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of Liberty Energy by 176.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,423 shares of the company’s stock worth $67,000 after purchasing an additional 2,184 shares in the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Michael Stock sold 5,000 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.00, for a total transaction of $115,000.00. Following the completion of the transaction, the chief financial officer now owns 675,207 shares in the company, valued at approximately $15,529,761. This represents a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Liberty Energy Stock Performance

LBRT stock opened at $10.69 on Friday. The stock’s 50 day simple moving average is $15.44 and its 200 day simple moving average is $17.90. Liberty Energy Inc. has a 12-month low of $9.50 and a 12-month high of $24.75. The firm has a market cap of $1.73 billion, a P/E ratio of 5.71 and a beta of 1.18. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 0.20.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. As a group, equities research analysts predict that Liberty Energy Inc. will post 0.58 EPS for the current year.

Liberty Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a $0.08 dividend. The ex-dividend date was Thursday, March 6th. This represents a $0.32 dividend on an annualized basis and a yield of 2.99%. Liberty Energy’s payout ratio is currently 17.11%.

Wall Street Analyst Weigh In

LBRT has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered their price target on shares of Liberty Energy from $19.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday. Barclays decreased their price objective on shares of Liberty Energy from $21.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $11.00 target price (down from $20.00) on shares of Liberty Energy in a research report on Tuesday. Stifel Nicolaus increased their price target on Liberty Energy from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, TD Cowen dropped their price objective on Liberty Energy from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.60.

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.