Mackenzie Financial Corp Buys 4,830 Shares of Liberty Energy Inc. (NYSE:LBRT)

Mackenzie Financial Corp lifted its position in Liberty Energy Inc. (NYSE:LBRT) by 18.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,701 shares of the company’s stock after buying an additional 4,830 shares during the quarter. Mackenzie Financial Corp’s holdings in Liberty Energy were worth $557,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. CWM LLC increased its stake in Liberty Energy by 59.7% in the 3rd quarter. CWM LLC now owns 3,166 shares of the company’s stock worth $59,000 after acquiring an additional 1,183 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Liberty Energy in the third quarter worth approximately $97,000. Spirit of America Management Corp NY bought a new position in shares of Liberty Energy in the fourth quarter worth approximately $127,000. Jupiter Asset Management Ltd. purchased a new stake in Liberty Energy in the third quarter valued at approximately $190,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Liberty Energy during the fourth quarter valued at approximately $191,000. 98.22% of the stock is currently owned by institutional investors.

Insider Transactions at Liberty Energy

In related news, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $22.66, for a total value 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 can be accessed through the SEC website. In other Liberty Energy news, Director William F. Kimble sold 12,459 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $21.55, for a total value of $268,491.45. Following the completion of the transaction, the director now directly owns 69,963 shares in the company, valued at approximately $1,507,702.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $22.66, for a total transaction of $453,200.00. Following the completion of 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,459 shares of company stock worth $2,077,491. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LBRT shares. Morgan Stanley restated an “equal weight” rating and set a $24.00 price objective on shares of Liberty Energy in a research report on Monday, April 22nd. TD Cowen lifted their price target on Liberty Energy from $19.00 to $21.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Wells Fargo & Company upped their price objective on Liberty Energy from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Royal Bank of Canada raised their price objective on Liberty Energy from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Finally, Piper Sandler upped their target price on Liberty Energy from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Liberty Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.30.

Liberty Energy Price Performance

LBRT opened at $23.02 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.48 and a quick ratio of 1.16. The stock’s 50 day simple moving average is $21.43 and its 200 day simple moving average is $19.84. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 8.40, a PEG ratio of 1.14 and a beta of 1.85. Liberty Energy Inc. has a 1 year low of $11.62 and a 1 year high of $23.31.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Thursday, April 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.06). Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the business posted $0.90 EPS. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. As a group, analysts predict that Liberty Energy Inc. will post 2.54 earnings per share for the current year.

Liberty Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Wednesday, June 5th. Liberty Energy’s dividend payout ratio (DPR) is 10.22%.

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.