Liberty Energy Inc. (NYSE:LBRT) Holdings Raised by Entropy Technologies LP

Entropy Technologies LP increased its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 39.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 77,800 shares of the company’s stock after purchasing an additional 22,090 shares during the quarter. Entropy Technologies LP’s holdings in Liberty Energy were worth $1,485,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in LBRT. Lord Abbett & CO. LLC bought a new position in shares of Liberty Energy in the 1st quarter worth about $27,809,000. Canoe Financial LP raised its stake in Liberty Energy by 20.4% during the third quarter. Canoe Financial LP now owns 4,124,695 shares of the company’s stock worth $79,408,000 after acquiring an additional 699,500 shares during the period. Hennessy Advisors Inc. lifted its holdings in Liberty Energy by 48.0% in the second quarter. Hennessy Advisors Inc. now owns 1,981,100 shares of the company’s stock worth $41,385,000 after acquiring an additional 642,700 shares during the last quarter. American Century Companies Inc. boosted its stake in Liberty Energy by 17.6% in the second quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock valued at $82,754,000 after acquiring an additional 594,051 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Liberty Energy by 345.4% during the second quarter. Canada Pension Plan Investment Board now owns 573,200 shares of the company’s stock valued at $11,974,000 after purchasing an additional 444,500 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Liberty Energy news, CFO Michael Stock sold 15,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $20.01, for a total value of $300,150.00. Following the transaction, the chief financial officer now owns 750,207 shares of the company’s stock, valued at approximately $15,011,642.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $19.77, for a total value of $395,400.00. Following the completion of the transaction, the chief executive officer now directly owns 2,638,813 shares in the company, valued at $52,169,333.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michael Stock sold 15,000 shares of Liberty Energy stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $20.01, for a total transaction of $300,150.00. Following the completion of the transaction, the chief financial officer now directly owns 750,207 shares in the company, valued at approximately $15,011,642.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,037 shares of company stock worth $1,911,802. Corporate insiders own 3.60% of the company’s stock.

Liberty Energy Stock Performance

Shares of NYSE LBRT opened at $17.98 on Wednesday. Liberty Energy Inc. has a 1 year low of $16.57 and a 1 year high of $24.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 1.23. The stock has a fifty day moving average price of $19.05 and a two-hundred day moving average price of $20.73. The firm has a market cap of $2.94 billion, a P/E ratio of 8.56 and a beta of 1.70.

Liberty Energy (NYSE:LBRT) last released its earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the firm earned $0.85 earnings per share. Liberty Energy’s revenue was down 6.4% on a year-over-year basis. Research analysts forecast that Liberty Energy Inc. will post 1.75 EPS for the current fiscal year.

Liberty Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, December 6th. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 1.78%. Liberty Energy’s dividend payout ratio is currently 13.33%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Atb Cap Markets lowered Liberty Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Barclays lowered their price target on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. TD Cowen cut their price objective on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday, July 19th. Citigroup cut shares of Liberty Energy from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $25.00 to $19.00 in a research report on Friday, October 18th. Finally, Stifel Nicolaus cut their price target on Liberty Energy from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Liberty Energy currently has an average rating of “Moderate Buy” and an average target price of $22.89.

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.