Northwestern Mutual Wealth Management Co. Sells 2,730 Shares of Liberty Energy Inc. (NYSE:LBRT)

Northwestern Mutual Wealth Management Co. lessened its holdings in Liberty Energy Inc. (NYSE:LBRT) by 46.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,200 shares of the company’s stock after selling 2,730 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Liberty Energy were worth $67,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in LBRT. Creative Planning increased its position in Liberty Energy by 28.6% in the second quarter. Creative Planning now owns 18,753 shares of the company’s stock worth $392,000 after buying an additional 4,169 shares in the last quarter. Scientech Research LLC bought a new position in shares of Liberty Energy during the 2nd quarter valued at approximately $234,000. The Manufacturers Life Insurance Company increased its holdings in Liberty Energy by 34.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,498,921 shares of the company’s stock worth $31,312,000 after acquiring an additional 381,841 shares in the last quarter. HITE Hedge Asset Management LLC bought a new stake in Liberty Energy during the 2nd quarter worth approximately $3,374,000. Finally, Public Sector Pension Investment Board lifted its holdings in Liberty Energy by 7.3% during the second quarter. Public Sector Pension Investment Board now owns 333,635 shares of the company’s stock valued at $6,970,000 after purchasing an additional 22,730 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Liberty Energy Stock Up 1.3 %

NYSE LBRT opened at $20.45 on Friday. The stock has a 50 day moving average price of $20.13 and a 200-day moving average price of $21.37. Liberty Energy Inc. has a one year low of $16.69 and a one year high of $24.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35. The company has a market capitalization of $3.38 billion, a P/E ratio of 8.15, a P/E/G ratio of 1.20 and a beta of 1.68.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data on Wednesday, July 17th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business earned $0.87 earnings per share. Liberty Energy’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, equities analysts predict that Liberty Energy Inc. will post 2.14 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a dividend of $0.07 per share. The ex-dividend date was Friday, September 6th. This represents a $0.28 dividend on an annualized basis and a yield of 1.37%. Liberty Energy’s dividend payout ratio (DPR) is presently 11.16%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LBRT. Citigroup reduced their price objective on shares of Liberty Energy from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Bank of America decreased their price target on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Stifel Nicolaus dropped their price objective on Liberty Energy from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday. Piper Sandler decreased their target price on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Finally, TD Cowen dropped their price target on Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Friday, July 19th. 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.com, Liberty Energy currently has an average rating of “Moderate Buy” and an average price target of $24.20.

Insider Buying and Selling at Liberty Energy

In other news, CFO Michael Stock sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $21.01, for a total transaction of $105,050.00. Following the transaction, the chief financial officer now owns 745,207 shares of the company’s stock, valued at approximately $15,656,799.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Liberty Energy news, CFO Michael Stock sold 5,000 shares of Liberty Energy stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $21.01, for a total transaction of $105,050.00. Following the completion of the transaction, the chief financial officer now directly owns 745,207 shares of the company’s stock, valued at $15,656,799.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $19.77, for a total transaction of $395,400.00. Following the transaction, the chief executive officer now owns 2,638,813 shares in the company, valued at $52,169,333.01. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,000 shares of company stock worth $1,945,650 over the last ninety days. Company 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.