State of New Jersey Common Pension Fund D Has $2.32 Million Position in Liberty Energy Inc. (NYSE:LBRT)

State of New Jersey Common Pension Fund D lessened its position in Liberty Energy Inc. (NYSE:LBRT) by 19.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 127,744 shares of the company’s stock after selling 30,382 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Liberty Energy were worth $2,317,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. raised its holdings in shares of Liberty Energy by 93.9% in the fourth quarter. Pacer Advisors Inc. now owns 4,587,073 shares of the company’s stock valued at $83,210,000 after purchasing an additional 2,221,588 shares during the last quarter. Invesco Ltd. increased its stake in Liberty Energy by 455.5% in the 3rd quarter. Invesco Ltd. now owns 1,536,812 shares of the company’s stock valued at $28,462,000 after buying an additional 1,260,142 shares during the last quarter. Vanguard Group Inc. lifted its position in Liberty Energy by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 20,546,529 shares of the company’s stock worth $380,522,000 after buying an additional 893,563 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Liberty Energy by 4,473.9% during the 3rd quarter. Principal Financial Group Inc. now owns 836,470 shares of the company’s stock worth $15,491,000 after buying an additional 818,182 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Liberty Energy by 53.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,244,480 shares of the company’s stock valued at $41,568,000 after acquiring an additional 778,111 shares in the last quarter. Institutional investors own 98.22% of the company’s stock.

Analyst Upgrades and Downgrades

LBRT has been the topic of several analyst reports. Barclays upped their target price on Liberty Energy from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Bank of America raised their target price on shares of Liberty Energy from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. Piper Sandler upped their price target on shares of Liberty Energy from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Wells Fargo & Company increased their price target on shares of Liberty Energy from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, Morgan Stanley restated an “equal weight” rating and set a $24.00 price objective on shares of Liberty Energy in a research note on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.30.

Insider Activity

In related news, CFO Michael Stock sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $21.83, for a total value of $436,600.00. Following the transaction, the chief financial officer now owns 825,209 shares in the company, valued at $18,014,312.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Ron Gusek sold 50,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $22.99, for a total transaction of $1,149,500.00. Following the sale, the president now owns 1,213,259 shares in the company, valued at approximately $27,892,824.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Stock sold 20,000 shares of Liberty Energy stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $21.83, for a total transaction of $436,600.00. Following the completion of the transaction, the chief financial officer now directly owns 825,209 shares in the company, valued at $18,014,312.47. The disclosure for this sale can be found here. In the last three months, insiders sold 162,459 shares of company stock worth $3,592,591. 3.70% of the stock is currently owned by company insiders.

Liberty Energy Stock Down 4.3 %

Liberty Energy stock opened at $21.05 on Thursday. The stock has a market cap of $3.51 billion, a P/E ratio of 7.68, a P/E/G ratio of 1.17 and a beta of 1.85. The company has a quick ratio of 1.16, a current ratio of 1.48 and a debt-to-equity ratio of 0.17. Liberty Energy Inc. has a twelve month low of $11.62 and a twelve month high of $23.31. The company’s 50-day moving average price is $21.53 and its two-hundred day moving average price is $19.96.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings data on Thursday, April 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). Liberty Energy had a net margin of 10.43% and a return on equity of 26.46%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm earned $0.90 EPS. The business’s revenue for the quarter was down 12.8% on a year-over-year basis. As a group, analysts expect that Liberty Energy Inc. will post 2.52 EPS for the current year.

Liberty Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $0.28 annualized dividend and a yield of 1.33%. Liberty Energy’s dividend payout ratio is presently 10.22%.

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.