Liberty Energy Inc. (NYSE:LBRT) Shares Purchased by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC lifted its position in Liberty Energy Inc. (NYSE:LBRT) by 10.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 260,607 shares of the company’s stock after acquiring an additional 24,604 shares during the quarter. Horizon Kinetics Asset Management LLC owned 0.16% of Liberty Energy worth $4,975,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. EdgeRock Capital LLC acquired a new position in Liberty Energy in the second quarter worth $32,000. Covestor Ltd grew its position in shares of Liberty Energy by 96.8% during the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company’s stock valued at $33,000 after buying an additional 838 shares during the last quarter. GAMMA Investing LLC raised its stake in Liberty Energy by 69.2% during the second quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock worth $36,000 after acquiring an additional 713 shares during the period. nVerses Capital LLC raised its stake in Liberty Energy by 45.0% during the second quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock worth $61,000 after acquiring an additional 900 shares during the period. Finally, US Bancorp DE lifted its holdings in Liberty Energy by 93.2% in the third quarter. US Bancorp DE now owns 4,180 shares of the company’s stock worth $80,000 after acquiring an additional 2,016 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors.

Liberty Energy Trading Up 1.5 %

Liberty Energy stock opened at $19.27 on Monday. Liberty Energy Inc. has a 12-month low of $16.57 and a 12-month high of $24.75. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.97. The stock has a market capitalization of $3.15 billion, a PE ratio of 9.04 and a beta of 1.70. The firm has a 50 day simple moving average of $18.82 and a 200-day simple moving average of $20.49.

Liberty Energy (NYSE:LBRT) last issued its quarterly 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 net margin of 8.02% and a return on equity of 18.50%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the business posted $0.85 earnings per share. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, equities research analysts expect that Liberty Energy Inc. will post 1.75 EPS for the current fiscal year.

Liberty Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.08 per share. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Friday, December 6th. Liberty Energy’s payout ratio is presently 13.33%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $19.91, for a total value of $398,200.00. Following 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Stock sold 5,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $17.21, for a total value of $86,050.00. Following the sale, the chief financial officer now owns 725,207 shares of the company’s stock, valued at $12,480,812.47. This trade represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,037 shares of company stock worth $1,911,802. 3.70% of the stock is owned by corporate insiders.

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.