Strs Ohio Sells 39,900 Shares of Liberty Energy Inc. $LBRT

Strs Ohio trimmed its position in Liberty Energy Inc. (NYSE:LBRT) by 23.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 128,900 shares of the company’s stock after selling 39,900 shares during the period. Strs Ohio’s holdings in Liberty Energy were worth $3,712,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LBRT. Vanguard Group Inc. raised its holdings in shares of Liberty Energy by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 18,096,443 shares of the company’s stock valued at $334,060,000 after acquiring an additional 97,998 shares in the last quarter. Round Rock Advisors LLC increased its holdings in shares of Liberty Energy by 65.3% in the 4th quarter. Round Rock Advisors LLC now owns 104,213 shares of the company’s stock worth $1,956,000 after buying an additional 41,163 shares during the last quarter. Aventail Capital Group LP increased its holdings in shares of Liberty Energy by 94.6% in the 3rd quarter. Aventail Capital Group LP now owns 334,637 shares of the company’s stock worth $4,129,000 after buying an additional 162,668 shares during the last quarter. Callodine Capital Management LP raised its position in shares of Liberty Energy by 97.7% during the 3rd quarter. Callodine Capital Management LP now owns 2,089,283 shares of the company’s stock valued at $25,782,000 after buying an additional 1,032,283 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Liberty Energy by 23.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,876,443 shares of the company’s stock valued at $23,155,000 after buying an additional 355,576 shares in the last quarter. Institutional investors own 98.22% of the company’s stock.

Analysts Set New Price Targets

LBRT has been the subject of several research reports. UBS Group reiterated a “buy” rating on shares of Liberty Energy in a research report on Friday, June 26th. Weiss Ratings restated a “hold (c)” rating on shares of Liberty Energy in a research report on Friday, May 1st. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $32.00 price target on shares of Liberty Energy in a research note on Friday, April 24th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $31.00 price objective on shares of Liberty Energy in a report on Wednesday, June 3rd. Finally, Barclays raised their price objective on Liberty Energy from $29.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $32.18.

Liberty Energy Trading Up 0.5%

NYSE LBRT traded up $0.11 during trading on Tuesday, hitting $23.40. 146,992 shares of the company’s stock traded hands, compared to its average volume of 4,210,764. The stock has a fifty day moving average of $29.85 and a two-hundred day moving average of $26.68. 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 12-month low of $9.90 and a 12-month high of $34.48. The firm has a market cap of $3.82 billion, a P/E ratio of 25.67, a PEG ratio of 2.05 and a beta of 0.54.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.19. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $954.71 million. Liberty Energy had a return on equity of 1.41% and a net margin of 3.71%.The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $0.04 earnings per share. As a group, sell-side analysts expect that Liberty Energy Inc. will post 0.24 EPS for the current year.

Liberty Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.5%. The ex-dividend date was Thursday, June 4th. Liberty Energy’s dividend payout ratio (DPR) is presently 39.56%.

Insider Buying and Selling

In other Liberty Energy news, Chairman William F. Kimble sold 7,350 shares of Liberty Energy stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $33.92, for a total value of $249,312.00. Following the transaction, the chairman directly owned 89,805 shares of the company’s stock, valued at $3,046,185.60. The trade was a 7.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Stock sold 19,998 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $33.48, for a total value of $669,533.04. Following the completion of the sale, the chief financial officer owned 800,375 shares of the company’s stock, valued at $26,796,555. The trade was a 2.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 54,012 shares of company stock worth $1,673,803 over the last ninety days. Insiders own 2.00% of the company’s stock.

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. 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.