Liberty Energy Inc. (NYSE:LBRT) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in Liberty Energy Inc. (NYSE:LBRT) by 5.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,779,906 shares of the company’s stock after purchasing an additional 207,527 shares during the quarter. Geode Capital Management LLC’s holdings in Liberty Energy were worth $72,173,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LBRT. FMR LLC grew its holdings in Liberty Energy by 17.1% in the 3rd quarter. FMR LLC now owns 18,115,282 shares of the company’s stock valued at $345,821,000 after buying an additional 2,640,119 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Liberty Energy by 15.9% during the 3rd quarter. Pacer Advisors Inc. now owns 7,012,382 shares of the company’s stock valued at $133,866,000 after acquiring an additional 963,068 shares during the last quarter. State Street Corp grew its holdings in shares of Liberty Energy by 2.7% in the third quarter. State Street Corp now owns 6,662,830 shares of the company’s stock valued at $127,193,000 after purchasing an additional 176,887 shares during the period. Canoe Financial LP increased its position in Liberty Energy by 20.4% during the third quarter. Canoe Financial LP now owns 4,124,695 shares of the company’s stock worth $79,408,000 after purchasing an additional 699,500 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Liberty Energy by 17.6% during the second quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock worth $82,754,000 after purchasing an additional 594,051 shares during the period. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Christopher A. Wright sold 2,936 shares of Liberty Energy stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $19.16, for a total value of $56,253.76. Following the completion of the transaction, the chief executive officer now owns 2,543,877 shares in the company, valued at approximately $48,740,683.32. This trade represents a 0.12 % 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 business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $19.23, for a total value of $288,450.00. Following the transaction, the chief financial officer now directly owns 730,207 shares of the company’s stock, valued at approximately $14,041,880.61. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,973 shares of company stock worth $1,641,235 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LBRT. Stifel Nicolaus dropped their price target on shares of Liberty Energy from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Evercore ISI upgraded Liberty Energy to a “strong-buy” rating in a research report on Thursday, October 17th. Wells Fargo & Company reduced their target price on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Royal Bank of Canada decreased their price target on Liberty Energy from $26.00 to $23.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Finally, The Goldman Sachs Group began coverage on Liberty Energy in a research report on Friday, December 13th. They set a “neutral” rating and a $19.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Liberty Energy Price Performance

LBRT opened at $18.17 on Friday. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 8.65 and a beta of 1.71. The company has a current ratio of 1.23, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. The stock’s 50-day moving average price is $18.11 and its 200 day moving average price is $19.84. Liberty Energy Inc. has a 12-month low of $16.57 and a 12-month high of $24.75.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.10). The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.85 EPS. As a group, sell-side analysts expect that Liberty Energy Inc. will post 1.72 earnings per share for the current year.

Liberty Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.76%. The ex-dividend date was Friday, December 6th. This is a boost from Liberty Energy’s previous quarterly dividend of $0.07. Liberty Energy’s dividend payout ratio (DPR) is currently 15.24%.

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.