Bridgewater Associates LP Has $13.38 Million Stock Holdings in Liberty Energy Inc. (NYSE:LBRT)

Bridgewater Associates LP increased its stake in Liberty Energy Inc. (NYSE:LBRT) by 285.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 700,814 shares of the company’s stock after acquiring an additional 518,830 shares during the quarter. Bridgewater Associates LP owned about 0.43% of Liberty Energy worth $13,379,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LBRT. Andina Capital Management LLC lifted its stake in shares of Liberty Energy by 3.9% in the 2nd quarter. Andina Capital Management LLC now owns 18,599 shares of the company’s stock valued at $389,000 after purchasing an additional 691 shares during the period. Creative Planning lifted its stake in Liberty Energy by 3.7% in the third quarter. Creative Planning now owns 19,456 shares of the company’s stock valued at $371,000 after buying an additional 703 shares during the period. GAMMA Investing LLC lifted its stake in Liberty Energy by 69.2% in the second quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock valued at $36,000 after buying an additional 713 shares during the period. Covestor Ltd boosted its holdings in shares of Liberty Energy by 96.8% during the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company’s stock worth $33,000 after buying an additional 838 shares in the last quarter. Finally, nVerses Capital LLC grew its position in shares of Liberty Energy by 45.0% during the 2nd quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock worth $61,000 after buying an additional 900 shares during the period. 98.22% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Liberty Energy

In related news, CFO Michael Stock sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $17.21, for a total transaction of $86,050.00. Following the completion of the sale, the chief financial officer now owns 725,207 shares in the company, valued at approximately $12,480,812.47. This trade represents a 0.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $19.91, for a total transaction of $398,200.00. Following the completion of the transaction, the chief executive officer now owns 2,678,813 shares in the company, valued at approximately $53,335,166.83. The trade was a 0.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 99,037 shares of company stock worth $1,911,802. Insiders own 3.60% of the company’s stock.

Liberty Energy Stock Up 0.2 %

LBRT stock opened at $18.44 on Friday. The firm has a market capitalization of $3.01 billion, a PE ratio of 8.78 and a beta of 1.70. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. Liberty Energy Inc. has a twelve month low of $16.57 and a twelve month high of $24.75. The stock’s 50 day moving average is $18.70 and its 200-day moving average is $20.42.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.10). Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the business posted $0.85 earnings per share. Liberty Energy’s revenue was down 6.4% on a year-over-year basis. Sell-side analysts expect that Liberty Energy Inc. will post 1.75 EPS for the current fiscal year.

Liberty Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.74%. This is an increase from Liberty Energy’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, December 6th. Liberty Energy’s dividend payout ratio is presently 15.24%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LBRT. Wells Fargo & Company cut their target price on shares of Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Citigroup lowered shares of Liberty Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $25.00 to $19.00 in a report on Friday, October 18th. Atb Cap Markets downgraded Liberty Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Royal Bank of Canada dropped their price target on Liberty Energy from $26.00 to $23.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Finally, Barclays reduced their price objective on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Liberty Energy currently has a consensus rating of “Moderate Buy” and an average price target of $22.89.

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.