Liberty Energy Inc. $LBRT Stake Decreased by Peregrine Capital Management LLC

Peregrine Capital Management LLC cut its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 31.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 206,456 shares of the company’s stock after selling 95,528 shares during the period. Peregrine Capital Management LLC’s holdings in Liberty Energy were worth $5,946,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LBRT. Vanguard Group Inc. grew its stake in shares of Liberty Energy by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 18,096,443 shares of the company’s stock worth $334,060,000 after purchasing an additional 97,998 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Liberty Energy by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,802,399 shares of the company’s stock valued at $162,494,000 after purchasing an additional 189,829 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Liberty Energy by 78.5% in the third quarter. Franklin Resources Inc. now owns 8,575,840 shares of the company’s stock worth $105,826,000 after purchasing an additional 3,771,724 shares during the period. Millennium Management LLC lifted its holdings in Liberty Energy by 184.7% in the fourth quarter. Millennium Management LLC now owns 3,287,466 shares of the company’s stock worth $60,687,000 after purchasing an additional 2,132,685 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Liberty Energy by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,213,185 shares of the company’s stock valued at $59,315,000 after buying an additional 131,278 shares in the last quarter. Institutional investors own 98.22% of the company’s stock.

Analyst Upgrades and Downgrades

LBRT has been the topic of several research analyst reports. UBS Group reissued a “buy” rating on shares of Liberty Energy in a research note on Friday, June 26th. Zacks Research upgraded shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, June 22nd. Morgan Stanley set a $36.00 price objective on shares of Liberty Energy in a research note on Monday, April 27th. Barclays lifted their price target on Liberty Energy from $29.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Finally, Piper Sandler boosted their price objective on Liberty Energy from $32.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Liberty Energy presently has an average rating of “Moderate Buy” and an average price target of $32.18.

Liberty Energy Stock Down 7.2%

Shares of Liberty Energy stock opened at $24.30 on Thursday. The stock has a 50-day moving average price of $30.23 and a 200 day moving average price of $26.58. The company has a current ratio of 2.21, a quick ratio of 1.97 and a debt-to-equity ratio of 0.75. The company has a market cap of $3.97 billion, a P/E ratio of 26.71, a P/E/G ratio of 2.24 and a beta of 0.54. Liberty Energy Inc. has a 1 year low of $9.90 and a 1 year high of $34.48.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.19. Liberty Energy had a net margin of 3.71% and a return on equity of 1.41%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $954.71 million. During the same period in the prior year, the business posted $0.04 earnings per share. Liberty Energy’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, analysts expect that Liberty Energy Inc. will post 0.25 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.5%. Liberty Energy’s dividend payout ratio is currently 39.56%.

Insider Transactions at Liberty Energy

In related news, Chairman William F. Kimble sold 7,350 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $33.92, for a total value of $249,312.00. Following the transaction, the chairman directly owned 89,805 shares of the company’s stock, valued at approximately $3,046,185.60. This trade represents a 7.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Stock sold 19,998 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $33.48, for a total value of $669,533.04. Following the sale, the chief financial officer directly owned 800,375 shares of the company’s stock, valued at $26,796,555. The trade was a 2.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 54,012 shares of company stock worth $1,673,803. 2.00% of the stock is currently owned by insiders.

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. As of as of December 31, 2023, the company owned and operated a fleet of approximately 40 active hydraulic fracturing; and two sand mines in the Permian Basin.