Ritholtz Wealth Management Sells 55,086 Shares of Liberty Energy Inc. (NYSE:LBRT)

Ritholtz Wealth Management reduced its stake in shares of Liberty Energy Inc. (NYSE:LBRT) by 34.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 106,734 shares of the company’s stock after selling 55,086 shares during the quarter. Ritholtz Wealth Management’s holdings in Liberty Energy were worth $2,123,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Park Avenue Securities LLC raised its holdings in Liberty Energy by 5.0% during the fourth quarter. Park Avenue Securities LLC now owns 29,700 shares of the company’s stock valued at $591,000 after buying an additional 1,423 shares in the last quarter. Harbour Capital Advisors LLC bought a new position in shares of Liberty Energy in the fourth quarter worth about $498,000. Cooper Financial Group bought a new position in shares of Liberty Energy in the fourth quarter worth about $209,000. Harbor Capital Advisors Inc. increased its stake in shares of Liberty Energy by 0.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 82,223 shares of the company’s stock worth $1,635,000 after purchasing an additional 708 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Liberty Energy by 61.2% in the third quarter. JPMorgan Chase & Co. now owns 3,146,179 shares of the company’s stock worth $60,061,000 after purchasing an additional 1,193,918 shares during the period. 98.22% of the stock is currently owned by institutional investors.

Liberty Energy Stock Down 2.0 %

NYSE LBRT opened at $22.67 on Friday. 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 is $19.18 and its two-hundred day moving average is $19.74. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 10.79 and a beta of 1.66. Liberty Energy Inc. has a 1-year low of $16.57 and a 1-year high of $24.75.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 earnings per share 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 period in the previous year, the firm posted $0.85 earnings per share. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. Equities analysts forecast that Liberty Energy Inc. will post 1.66 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Michael Stock sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $23.00, for a total value of $115,000.00. Following the completion of the transaction, the chief financial officer now owns 675,207 shares in the company, valued at $15,529,761. The trade was a 0.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher A. Wright sold 2,037 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $18.15, for a total transaction of $36,971.55. Following the completion of the transaction, the chief executive officer now owns 2,578,813 shares of the company’s stock, valued at $46,805,455.95. This trade represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,973 shares of company stock worth $1,586,335. Insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

LBRT has been the topic of a number of recent analyst reports. Seaport Res Ptn upgraded Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Sunday, January 5th. Wells Fargo & Company dropped their price objective on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. TD Cowen decreased their target price on Liberty Energy from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Citigroup lifted their target price on Liberty Energy from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. 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 target price on the stock. Five analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.20.

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.