Apollon Wealth Management LLC Has $2.62 Million Stake in Liberty Energy Inc. (NYSE:LBRT)

Apollon Wealth Management LLC lowered its holdings in Liberty Energy Inc. (NYSE:LBRT) by 40.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 125,604 shares of the company’s stock after selling 84,461 shares during the quarter. Apollon Wealth Management LLC owned about 0.08% of Liberty Energy worth $2,624,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Diversified Trust Co increased its holdings in Liberty Energy by 2.5% during the 1st quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock worth $427,000 after purchasing an additional 507 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Liberty Energy by 4.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 14,262 shares of the company’s stock worth $296,000 after buying an additional 543 shares in the last quarter. Perigon Wealth Management LLC raised its position in Liberty Energy by 2.4% in the 1st quarter. Perigon Wealth Management LLC now owns 24,815 shares of the company’s stock valued at $514,000 after buying an additional 571 shares during the last quarter. Andina Capital Management LLC lifted its stake in Liberty Energy by 3.9% during the 2nd quarter. Andina Capital Management LLC now owns 18,599 shares of the company’s stock valued at $389,000 after acquiring an additional 691 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Liberty Energy by 27.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock worth $59,000 after acquiring an additional 709 shares during the last quarter. Institutional investors own 98.22% of the company’s stock.

Liberty Energy Trading Up 0.6 %

Shares of LBRT stock opened at $20.91 on Tuesday. Liberty Energy Inc. has a 1 year low of $15.57 and a 1 year high of $24.75. The company’s fifty day simple moving average is $21.12 and its two-hundred day simple moving average is $21.53. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 1.07. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 7.63, a PEG ratio of 1.33 and a beta of 1.74.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the firm posted $0.87 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, analysts anticipate that Liberty Energy Inc. will post 2.19 earnings per share for the current year.

Liberty Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders 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 dividend yield of 1.34%. Liberty Energy’s payout ratio is currently 10.22%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Bank of America dropped their price target on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Morgan Stanley reissued an “equal weight” rating and set a $24.00 target price on shares of Liberty Energy in a research report on Monday, April 22nd. Barclays reduced their target price on Liberty Energy from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. TD Cowen dropped their price target on Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Friday, July 19th. Finally, Piper Sandler reduced their price objective on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Liberty Energy has a consensus rating of “Moderate Buy” and a consensus price target of $24.78.

Insider Buying and Selling

In other Liberty Energy news, CFO Michael Stock sold 4,374 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $21.01, for a total value of $91,897.74. Following the sale, the chief financial officer now owns 785,207 shares of the company’s stock, valued at approximately $16,497,199.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $20.26, for a total value of $405,200.00. Following the transaction, the chief executive officer now owns 2,758,813 shares of the company’s stock, valued at $55,893,551.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Stock sold 4,374 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $21.01, for a total value of $91,897.74. Following the sale, the chief financial officer now owns 785,207 shares in the company, valued at approximately $16,497,199.07. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,000 shares of company stock worth $1,767,231. Corporate 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.