Federated Hermes Inc. Boosts Stock Holdings in Liberty Energy Inc. (NYSE:LBRT)

Federated Hermes Inc. raised its stake in Liberty Energy Inc. (NYSE:LBRT) by 518.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 719,851 shares of the company’s stock after buying an additional 603,496 shares during the period. Federated Hermes Inc. owned approximately 0.43% of Liberty Energy worth $13,058,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in LBRT. Vanguard Group Inc. boosted its position in Liberty Energy by 4.5% during the third quarter. Vanguard Group Inc. now owns 20,546,529 shares of the company’s stock worth $380,522,000 after acquiring an additional 893,563 shares during the last quarter. Pacer Advisors Inc. increased its stake in Liberty Energy by 93.9% during the 4th quarter. Pacer Advisors Inc. now owns 4,587,073 shares of the company’s stock worth $83,210,000 after buying an additional 2,221,588 shares during the period. Bank of New York Mellon Corp increased its position 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 worth $41,568,000 after purchasing an additional 778,111 shares during the last quarter. American Century Companies Inc. increased its position in shares of Liberty Energy by 12.4% in the 3rd quarter. American Century Companies Inc. now owns 2,241,076 shares of the company’s stock worth $41,505,000 after purchasing an additional 247,074 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Liberty Energy by 14.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,116,651 shares of the company’s stock worth $39,200,000 after purchasing an additional 263,823 shares during the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Liberty Energy

In other news, CAO Ryan T. Gosney sold 6,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total value of $123,000.00. Following the sale, the chief accounting officer now owns 140,706 shares of the company’s stock, valued at $2,884,473. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $22.66, for a total transaction of $453,200.00. Following the sale, the chief executive officer now directly owns 2,858,814 shares of the company’s stock, valued at $64,780,725.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ryan T. Gosney sold 6,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total transaction of $123,000.00. Following the completion of the transaction, the chief accounting officer now owns 140,706 shares in the company, valued at $2,884,473. The disclosure for this sale can be found here. Insiders have sold a total of 98,459 shares of company stock valued at $2,077,491 over the last 90 days. 3.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LBRT has been the subject of a number of analyst reports. Piper Sandler boosted their target price on shares of Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Wells Fargo & Company upped their price target on shares of Liberty Energy from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Barclays boosted their target price on shares of Liberty Energy from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Morgan Stanley restated an “equal weight” rating and set a $24.00 price target on shares of Liberty Energy in a report on Monday. Finally, TD Cowen boosted their price target on shares of Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a report on Friday, April 19th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.30.

Liberty Energy Stock Up 3.2 %

Shares of NYSE LBRT opened at $22.82 on Wednesday. The stock has a market cap of $3.80 billion, a P/E ratio of 8.33, a P/E/G ratio of 1.11 and a beta of 1.85. The firm has a 50 day moving average price of $21.25 and a 200 day moving average price of $19.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.48. Liberty Energy Inc. has a 52-week low of $11.62 and a 52-week high of $23.31.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings results on Thursday, April 18th. The company reported $0.48 earnings per share 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 company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm posted $0.90 EPS. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. Analysts expect that Liberty Energy Inc. will post 2.58 EPS for the current year.

Liberty Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Wednesday, June 5th. 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.