Scientech Research LLC Makes New Investment in Liberty Energy Inc. (NYSE:LBRT)

Scientech Research LLC purchased a new stake in Liberty Energy Inc. (NYSE:LBRT) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 11,203 shares of the company’s stock, valued at approximately $234,000.

A number of other hedge funds have also recently made changes to their positions in LBRT. Diversified Trust Co raised its position in Liberty Energy by 2.5% in the first quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock valued at $427,000 after purchasing an additional 507 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Liberty Energy by 4.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 14,262 shares of the company’s stock valued at $296,000 after buying an additional 543 shares during the period. Perigon Wealth Management LLC lifted its stake in Liberty Energy by 2.4% during the 1st quarter. Perigon Wealth Management LLC now owns 24,815 shares of the company’s stock worth $514,000 after acquiring an additional 571 shares in the last quarter. Andina Capital Management LLC boosted its holdings 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 during the period. Finally, PNC Financial Services Group Inc. grew its position in Liberty Energy by 27.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after acquiring an additional 709 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Insider Activity at Liberty Energy

In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction dated 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 owns 2,678,813 shares of the company’s stock, valued at $53,335,166.83. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $19.91, for a total value of $398,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,678,813 shares of the company’s stock, valued at $53,335,166.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Stock sold 15,000 shares of Liberty Energy stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $20.01, for a total transaction of $300,150.00. Following the completion of the transaction, the chief financial officer now directly owns 750,207 shares in the company, valued at $15,011,642.07. The disclosure for this sale can be found here. Insiders sold a total of 64,374 shares of company stock valued at $1,353,698 over the last ninety days. Insiders own 3.60% of the company’s stock.

Liberty Energy Stock Up 0.4 %

Shares of NYSE LBRT opened at $19.05 on Tuesday. Liberty Energy Inc. has a 1 year low of $16.33 and a 1 year high of $24.75. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 6.95, a price-to-earnings-growth ratio of 1.24 and a beta of 1.68. 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 business has a 50-day moving average of $20.58 and a two-hundred day moving average of $21.40.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the company posted $0.87 earnings per share. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, analysts forecast that Liberty Energy Inc. will post 2.18 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.28 annualized dividend and a yield of 1.47%. Liberty Energy’s dividend payout ratio is currently 10.22%.

Analyst Ratings Changes

LBRT has been the topic of several research reports. Barclays reduced their price target on shares of Liberty Energy from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd. Bank of America cut their price objective on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. TD Cowen decreased their target price 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 cut their price target on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $24.78.

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.