Kennedy Capital Management LLC Has $11.24 Million Position in Liberty Energy Inc. (NYSE:LBRT)

Kennedy Capital Management LLC lessened its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 15.8% in the first quarter, HoldingsChannel.com reports. The firm owned 542,524 shares of the company’s stock after selling 101,687 shares during the period. Kennedy Capital Management LLC’s holdings in Liberty Energy were worth $11,241,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. EdgeRock Capital LLC bought a new stake in shares of Liberty Energy in the 4th quarter worth $27,000. Principal Securities Inc. bought a new position in Liberty Energy during the fourth quarter valued at about $39,000. Quadrant Capital Group LLC lifted its holdings in Liberty Energy by 70.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock valued at $53,000 after purchasing an additional 1,206 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Liberty Energy by 27.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after purchasing an additional 709 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its holdings in Liberty Energy by 54.6% during the first quarter. Lindbrook Capital LLC now owns 3,393 shares of the company’s stock valued at $70,000 after purchasing an additional 1,199 shares during the last quarter. Institutional investors own 98.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on LBRT shares. Wells Fargo & Company increased their price target on shares of Liberty Energy from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Piper Sandler cut their target price on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Bank of America cut their target price on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $24.00 price target on shares of Liberty Energy in a research note on Monday, April 22nd. Finally, Barclays lowered their price objective on Liberty Energy from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $24.78.

Liberty Energy Stock Up 4.6 %

Shares of LBRT traded up $1.05 during trading hours on Tuesday, hitting $23.68. The company had a trading volume of 2,442,843 shares, compared to its average volume of 2,706,213. The firm has a fifty day moving average price of $21.80 and a 200-day moving average price of $21.26. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 8.64, a P/E/G ratio of 1.34 and a beta of 1.74. Liberty Energy Inc. has a 52-week low of $15.57 and a 52-week high of $24.75.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. Liberty Energy’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 EPS. On average, equities research analysts forecast that Liberty Energy Inc. will post 2.19 EPS for the current fiscal year.

Liberty Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.28 annualized dividend and a yield of 1.18%. Liberty Energy’s payout ratio is 10.22%.

Insider Buying and Selling

In related news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $21.64, for a total value of $432,800.00. Following the completion of the sale, the chief executive officer now directly owns 2,818,814 shares in the company, valued at approximately $60,999,134.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $21.64, for a total transaction of $432,800.00. Following the completion of the sale, the chief executive officer now directly owns 2,818,814 shares in the company, valued at approximately $60,999,134.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael Stock sold 15,626 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $20.82, for a total value of $325,333.32. Following the sale, the chief financial officer now owns 789,581 shares of the company’s stock, valued at $16,439,076.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 106,000 shares of company stock worth $2,321,231. 3.60% of the stock is owned by corporate insiders.

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.