Well Done LLC Acquires 2,003 Shares of Liberty Energy Inc. (NYSE:LBRT)

Well Done LLC boosted its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 14.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,028 shares of the company’s stock after buying an additional 2,003 shares during the quarter. Well Done LLC’s holdings in Liberty Energy were worth $306,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Lord Abbett & CO. LLC purchased a new stake in Liberty Energy in the first quarter worth about $27,809,000. Hennessy Advisors Inc. increased its holdings in Liberty Energy by 48.0% in the 2nd quarter. Hennessy Advisors Inc. now owns 1,981,100 shares of the company’s stock worth $41,385,000 after buying an additional 642,700 shares during the period. American Century Companies Inc. boosted its position in Liberty Energy by 17.6% in the 2nd quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock worth $82,754,000 after purchasing an additional 594,051 shares in the last quarter. LSV Asset Management boosted its position in Liberty Energy by 60.2% in the 1st quarter. LSV Asset Management now owns 1,437,041 shares of the company’s stock worth $29,775,000 after purchasing an additional 539,861 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Liberty Energy by 345.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 573,200 shares of the company’s stock worth $11,974,000 after purchasing an additional 444,500 shares in the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.

Liberty Energy Stock Down 1.7 %

LBRT stock traded down $0.31 during trading on Friday, hitting $17.99. 370,526 shares of the company’s stock were exchanged, compared to its average volume of 2,484,647. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 6.68, a PEG ratio of 1.20 and a beta of 1.68. Liberty Energy Inc. has a 52-week low of $16.69 and a 52-week high of $24.75. The business has a 50-day moving average price of $20.08 and a two-hundred day moving average price of $21.34. The company has a current ratio of 1.35, a quick ratio of 1.07 and a debt-to-equity ratio of 0.17.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.10). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The company’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period last year, the firm earned $0.85 EPS. As a group, equities research analysts expect that Liberty Energy Inc. will post 2.14 EPS for the current year.

Liberty Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.78%. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07. Liberty Energy’s payout ratio is presently 11.68%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Royal Bank of Canada lowered their price objective on Liberty Energy from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday. Piper Sandler reduced their price objective on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Bank of America reduced their price objective on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Stifel Nicolaus cut their target price on Liberty Energy from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Finally, TD Cowen cut their price objective on Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research report on Friday, July 19th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Liberty Energy has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Insider Activity

In related news, CFO Michael Stock sold 20,000 shares of Liberty Energy stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $22.92, for a total value of $458,400.00. Following the sale, the chief financial officer now directly owns 765,207 shares in the company, valued at $17,538,544.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 95,000 shares of company stock valued at $1,945,650. Company insiders own 3.60% of the company’s stock.

About Liberty Energy

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.