Allspring Global Investments Holdings LLC Increases Stock Position in Liberty Energy Inc. (NYSE:LBRT)

Allspring Global Investments Holdings LLC boosted its holdings in Liberty Energy Inc. (NYSE:LBRT) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,935,737 shares of the company’s stock after purchasing an additional 62,924 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.18% of Liberty Energy worth $40,089,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of LBRT. Creative Planning boosted its stake in shares of Liberty Energy by 3.7% during the third quarter. Creative Planning now owns 19,456 shares of the company’s stock worth $371,000 after buying an additional 703 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Liberty Energy by 0.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 82,223 shares of the company’s stock valued at $1,635,000 after purchasing an additional 708 shares during the last quarter. Andina Capital Management LLC increased its holdings in shares of Liberty Energy by 4.4% in the third quarter. Andina Capital Management LLC now owns 19,413 shares of the company’s stock valued at $371,000 after purchasing an additional 814 shares during the period. Covestor Ltd raised its stake in shares of Liberty Energy by 96.8% during the third quarter. Covestor Ltd now owns 1,704 shares of the company’s stock worth $33,000 after purchasing an additional 838 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Liberty Energy by 24.8% during the third quarter. KBC Group NV now owns 4,906 shares of the company’s stock worth $94,000 after purchasing an additional 974 shares during the period. Institutional investors and hedge funds own 98.22% of the company’s stock.

Liberty Energy Stock Up 2.3 %

Liberty Energy stock opened at $17.92 on Friday. Liberty Energy Inc. has a fifty-two week low of $16.57 and a fifty-two week high of $24.75. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 9.58 and a beta of 1.63. The stock’s fifty day moving average is $19.69 and its two-hundred day moving average is $19.47. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.27.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Liberty Energy had a net margin of 7.32% and a return on equity of 14.28%. Analysts predict that Liberty Energy Inc. will post 0.62 EPS for the current fiscal year.

Liberty Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Thursday, March 6th. Liberty Energy’s payout ratio is 17.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. TD Cowen dropped their price objective on shares of Liberty Energy from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada cut their price target on shares of Liberty Energy from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Wells Fargo & Company lowered their price objective on Liberty Energy from $24.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Seaport Res Ptn raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Sunday, January 5th. Finally, The Goldman Sachs Group initiated coverage on Liberty Energy in a research note on Friday, December 13th. They issued a “neutral” rating and a $19.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Liberty Energy currently has an average rating of “Moderate Buy” and an average target price of $22.30.

Insider Activity

In related news, CEO Christopher A. Wright sold 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $18.23, for a total value of $291,680.00. Following the completion of the sale, the chief executive officer now directly owns 2,562,813 shares in the company, valued at approximately $46,720,080.99. The trade was a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Stock sold 10,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $18.49, for a total transaction of $184,900.00. Following the transaction, the chief financial officer now directly owns 705,207 shares in the company, valued at approximately $13,039,277.43. This represents a 1.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,936 shares of company stock valued at $1,341,184 over the last 90 days. Insiders own 3.60% of the company’s stock.

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.