Amalgamated Bank Cuts Holdings in Liberty Energy Inc. (NYSE:LBRT)

Amalgamated Bank decreased its holdings in Liberty Energy Inc. (NYSE:LBRT) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,690 shares of the company’s stock after selling 804 shares during the period. Amalgamated Bank’s holdings in Liberty Energy were worth $949,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of LBRT. Covestor Ltd raised its position in shares of Liberty Energy by 96.8% in the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company’s stock worth $33,000 after acquiring an additional 838 shares in the last quarter. Quarry LP grew its stake in Liberty Energy by 237.5% in the third quarter. Quarry LP now owns 1,991 shares of the company’s stock valued at $38,000 after purchasing an additional 1,401 shares during the last quarter. Blue Trust Inc. raised its holdings in Liberty Energy by 604.9% in the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the company’s stock worth $47,000 after purchasing an additional 2,111 shares in the last quarter. Spire Wealth Management purchased a new stake in shares of Liberty Energy during the fourth quarter valued at about $60,000. Finally, US Bancorp DE boosted its holdings in shares of Liberty Energy by 93.2% in the 3rd quarter. US Bancorp DE now owns 4,180 shares of the company’s stock valued at $80,000 after buying an additional 2,016 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Liberty Energy Stock Down 7.5 %

Shares of LBRT stock opened at $15.98 on Tuesday. Liberty Energy Inc. has a fifty-two week low of $15.83 and a fifty-two week high of $24.75. The firm has a market capitalization of $2.59 billion, a PE ratio of 8.55 and a beta of 1.63. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.97 and a current ratio of 1.27. The stock’s 50-day simple moving average is $19.51 and its 200-day simple moving average is $19.19.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Wednesday, January 29th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.06). Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. Equities analysts expect that Liberty Energy Inc. will post 0.58 earnings per share for the current year.

Liberty Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, March 6th. This represents a $0.32 dividend on an annualized basis and a yield of 2.00%. Liberty Energy’s dividend payout ratio is presently 17.11%.

Insider Buying and Selling at Liberty Energy

In other news, CEO Christopher A. Wright sold 16,000 shares of Liberty Energy stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $18.23, for a total transaction of $291,680.00. Following the completion of the transaction, the chief executive officer now directly owns 2,562,813 shares of the company’s stock, valued at $46,720,080.99. The trade was a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Stock sold 5,000 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $19.51, for a total transaction of $97,550.00. Following the completion of the transaction, the chief financial officer now owns 700,207 shares of the company’s stock, valued at approximately $13,661,038.57. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,936 shares of company stock valued at $1,156,284. 3.60% of the stock is owned by insiders.

Analysts Set New Price Targets

LBRT has been the subject of several recent analyst reports. TD Cowen reduced their price objective on shares of Liberty Energy from $18.00 to $16.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Citigroup upped their price target on Liberty Energy from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Atb Cap Markets raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Stifel Nicolaus boosted their target price on Liberty Energy from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, The Goldman Sachs Group began coverage on Liberty Energy in a research note on Friday, December 13th. They issued a “neutral” rating and a $19.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Liberty Energy currently has an average rating of “Moderate Buy” and an average target price of $22.30.

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.