American Century Companies Inc. Has $82.75 Million Holdings in Liberty Energy Inc. (NYSE:LBRT)

American Century Companies Inc. increased its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 17.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,961,415 shares of the company’s stock after acquiring an additional 594,051 shares during the quarter. American Century Companies Inc.’s holdings in Liberty Energy were worth $82,754,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Foundry Partners LLC raised its stake in shares of Liberty Energy by 15.6% in the 1st quarter. Foundry Partners LLC now owns 209,056 shares of the company’s stock valued at $4,332,000 after purchasing an additional 28,153 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Liberty Energy by 114.2% in the 1st quarter. Russell Investments Group Ltd. now owns 174,265 shares of the company’s stock valued at $3,611,000 after purchasing an additional 92,923 shares during the period. Hennessy Advisors Inc. raised its stake in shares of Liberty Energy by 14.1% in the 1st quarter. Hennessy Advisors Inc. now owns 1,338,400 shares of the company’s stock valued at $27,732,000 after purchasing an additional 165,400 shares during the period. LSV Asset Management raised its stake in shares of Liberty Energy by 60.2% in the 1st quarter. LSV Asset Management now owns 1,437,041 shares of the company’s stock valued at $29,775,000 after purchasing an additional 539,861 shares during the period. Finally, Edgestream Partners L.P. bought a new position in shares of Liberty Energy in the 1st quarter valued at about $690,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

Liberty Energy Trading Up 1.1 %

Liberty Energy stock opened at $19.36 on Friday. Liberty Energy Inc. has a 52 week low of $16.33 and a 52 week high of $24.75. The stock has a market capitalization of $3.20 billion, a P/E ratio of 7.07, a PEG ratio of 1.11 and a beta of 1.68. The stock has a 50-day simple moving average of $20.77 and a 200 day simple moving average of $21.47. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business earned $0.87 earnings per share. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. Analysts expect that Liberty Energy Inc. will post 2.17 earnings per share for the current year.

Liberty Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, September 6th. This represents a $0.28 annualized dividend and a yield of 1.45%. Liberty Energy’s dividend payout ratio is currently 10.22%.

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $20.26, for a total transaction of $405,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,758,813 shares in the company, valued at $55,893,551.38. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $20.26, for a total transaction of $405,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,758,813 shares in the company, valued at $55,893,551.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Stock sold 15,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $20.01, for a total transaction of $300,150.00. Following the transaction, the chief financial officer now owns 750,207 shares of the company’s stock, valued at $15,011,642.07. The disclosure for this sale can be found here. Insiders sold a total of 75,000 shares of company stock worth $1,580,981 over the last three months. Corporate insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on LBRT. Bank of America decreased their price objective on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Citigroup upgraded Liberty Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $24.00 to $32.00 in a report on Wednesday, May 29th. Barclays decreased their price objective 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 decreased their price objective on Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a report on Friday, July 19th. Finally, Piper Sandler reduced their price target on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.78.

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.