Liberty Energy Inc. (NYSE:LBRT) Shares Sold by Caprock Group LLC

Caprock Group LLC lessened its stake in Liberty Energy Inc. (NYSE:LBRT) by 17.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,671 shares of the company’s stock after selling 4,355 shares during the period. Caprock Group LLC’s holdings in Liberty Energy were worth $395,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in LBRT. CANADA LIFE ASSURANCE Co boosted its holdings in Liberty Energy by 6.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 131,559 shares of the company’s stock valued at $2,725,000 after purchasing an additional 8,459 shares in the last quarter. BOKF NA purchased a new stake in Liberty Energy in the 1st quarter valued at approximately $1,490,000. Paloma Partners Management Co purchased a new stake in Liberty Energy in the 1st quarter valued at approximately $349,000. Caxton Associates LP boosted its holdings in Liberty Energy by 60.1% in the 1st quarter. Caxton Associates LP now owns 47,019 shares of the company’s stock valued at $974,000 after purchasing an additional 17,644 shares in the last quarter. Finally, Cetera Advisors LLC purchased a new stake in Liberty Energy in the 1st quarter valued at approximately $368,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

Liberty Energy Price Performance

Shares of NYSE:LBRT opened at $18.99 on Friday. The business’s fifty day moving average price is $18.82 and its two-hundred day moving average price is $20.51. The stock has a market cap of $3.10 billion, a PE ratio of 9.04 and a beta of 1.70. 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 one year low of $16.57 and a one year high of $24.75.

Liberty Energy (NYSE:LBRT) last announced its 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 company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the company posted $0.85 EPS. Liberty Energy’s quarterly revenue was down 6.4% compared to the same quarter last year. On average, analysts forecast 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 paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Friday, December 6th. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07. Liberty Energy’s dividend payout ratio is currently 13.33%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays lowered their price objective on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Evercore ISI upgraded Liberty Energy to a “strong-buy” rating in a report on Thursday, October 17th. Citigroup cut Liberty Energy from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $25.00 to $19.00 in a report on Friday, October 18th. Atb Cap Markets cut Liberty Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada lowered their price target on Liberty Energy from $26.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Liberty Energy has an average rating of “Moderate Buy” and an average target price of $22.89.

Insiders Place Their Bets

In related news, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $19.77, for a total value of $395,400.00. Following the transaction, the chief executive officer now directly owns 2,638,813 shares of the company’s stock, valued at approximately $52,169,333.01. This trade represents a 0.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Stock sold 15,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $20.01, for a total value 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. This trade represents a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 99,037 shares of company stock valued at $1,911,802 in the last quarter. 3.60% of the stock is currently owned by company insiders.

About Liberty Energy

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.