United Services Automobile Association Sells 753 Shares of Liberty Energy Inc. (NYSE:LBRT)

United Services Automobile Association trimmed its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 6.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,826 shares of the company’s stock after selling 753 shares during the quarter. United Services Automobile Association’s holdings in Liberty Energy were worth $207,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of LBRT. Empowered Funds LLC increased its holdings in shares of Liberty Energy by 45.1% during the third quarter. Empowered Funds LLC now owns 495,578 shares of the company’s stock worth $9,461,000 after purchasing an additional 154,070 shares during the period. Principal Financial Group Inc. grew its position in Liberty Energy by 4.5% during the third quarter. Principal Financial Group Inc. now owns 872,215 shares of the company’s stock worth $16,651,000 after buying an additional 37,927 shares in the last quarter. Quest Partners LLC increased its stake in Liberty Energy by 168.2% during the 3rd quarter. Quest Partners LLC now owns 62,979 shares of the company’s stock worth $1,202,000 after acquiring an additional 39,497 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Liberty Energy by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,237,247 shares of the company’s stock valued at $42,709,000 after acquiring an additional 166,443 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its position in shares of Liberty Energy by 27.2% during the 3rd quarter. Mutual of America Capital Management LLC now owns 466,411 shares of the company’s stock valued at $8,904,000 after acquiring an additional 99,722 shares during the period. Institutional investors and hedge funds own 98.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LBRT shares. Stifel Nicolaus dropped their price target on Liberty Energy from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Atb Cap Markets downgraded shares of Liberty Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Citigroup cut shares of Liberty Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $25.00 to $19.00 in a research note on Friday, October 18th. Barclays cut their target price 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. Finally, Evercore ISI upgraded Liberty Energy to a “strong-buy” rating in a research note on Thursday, October 17th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.89.

Insider Activity at Liberty Energy

In other news, CFO Michael Stock sold 15,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $19.23, for a total value of $288,450.00. Following the sale, the chief financial officer now directly owns 730,207 shares of the company’s stock, valued at approximately $14,041,880.61. This represents a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction on Monday, September 16th. The stock was sold at an average price of $19.91, for a total transaction of $398,200.00. Following the transaction, the chief executive officer now directly owns 2,678,813 shares of the company’s stock, valued at $53,335,166.83. This represents a 0.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,037 shares of company stock worth $2,088,232 over the last three months. Company insiders own 3.60% of the company’s stock.

Liberty Energy Price Performance

Shares of LBRT opened at $17.41 on Tuesday. The business has a 50-day simple moving average of $18.40 and a two-hundred day simple moving average of $20.11. Liberty Energy Inc. has a 12-month low of $16.57 and a 12-month high of $24.75. The stock has a market cap of $2.85 billion, a PE ratio of 8.29 and a beta of 1.71. 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 (NYSE:LBRT) last issued its quarterly earnings data 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 business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the business earned $0.85 EPS. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. Analysts anticipate that Liberty Energy Inc. will post 1.75 earnings per share for the current fiscal year.

Liberty Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.08 dividend. This is a boost from Liberty Energy’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, December 6th. This represents a $0.32 annualized dividend and a dividend yield of 1.84%. Liberty Energy’s payout ratio is currently 15.24%.

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.