Sumitomo Mitsui Trust Group Inc. Sells 2,388 Shares of Liberty Energy Inc. (NYSE:LBRT)

Sumitomo Mitsui Trust Group Inc. cut its stake in Liberty Energy Inc. (NYSE:LBRT) by 8.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,522 shares of the company’s stock after selling 2,388 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Liberty Energy were worth $468,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. EdgeRock Capital LLC bought a new stake in shares of Liberty Energy during the second quarter worth approximately $32,000. Covestor Ltd lifted its holdings in shares of Liberty Energy by 96.8% during the third quarter. Covestor Ltd now owns 1,704 shares of the company’s stock worth $33,000 after buying an additional 838 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Liberty Energy by 69.2% in the second quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock valued at $36,000 after acquiring an additional 713 shares during the period. nVerses Capital LLC grew its stake in shares of Liberty Energy by 45.0% in the second quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock valued at $61,000 after acquiring an additional 900 shares in the last quarter. Finally, US Bancorp DE increased its position in Liberty Energy by 93.2% during the third quarter. US Bancorp DE now owns 4,180 shares of the company’s stock worth $80,000 after acquiring an additional 2,016 shares during the period. Institutional investors and hedge funds own 98.22% of the company’s stock.

Liberty Energy Stock Performance

NYSE LBRT opened at $17.36 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 1.23. Liberty Energy Inc. has a fifty-two week low of $16.57 and a fifty-two week high of $24.75. The stock has a market cap of $2.84 billion, a PE ratio of 8.26 and a beta of 1.70. The firm’s fifty day moving average price is $18.86 and its two-hundred day moving average price is $20.57.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the business posted $0.85 earnings per share. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, equities analysts expect that Liberty Energy Inc. will post 1.75 EPS for the current fiscal year.

Liberty Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.08 dividend. This is a boost from Liberty Energy’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 1.84%. The ex-dividend date is Friday, December 6th. Liberty Energy’s dividend payout ratio is 13.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LBRT shares. Atb Cap Markets downgraded shares of Liberty Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Evercore ISI upgraded Liberty Energy to a “strong-buy” rating in a research report on Thursday, October 17th. Royal Bank of Canada cut their price objective on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Stifel Nicolaus dropped their target price on shares of Liberty Energy from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Finally, Citigroup downgraded shares of Liberty Energy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $25.00 to $19.00 in a report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Liberty Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.89.

Insider Activity

In other Liberty Energy news, CFO Michael Stock sold 5,000 shares of the firm’s stock in a transaction that occurred 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 owns 745,207 shares in the company, valued at approximately $15,656,799.07. This trade represents a 0.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher A. Wright sold 2,037 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $18.15, for a total transaction of $36,971.55. Following the completion of the sale, the chief executive officer now directly owns 2,578,813 shares in the company, valued at approximately $46,805,455.95. This represents a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,037 shares of company stock valued at $1,911,802. Insiders own 3.70% 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.