Eventide Asset Management LLC Takes Position in Liberty Energy Inc. $LBRT

Eventide Asset Management LLC acquired a new stake in Liberty Energy Inc. (NYSE:LBRT) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 1,970,459 shares of the company’s stock, valued at approximately $36,394,000.

Several other large investors have also modified their holdings of LBRT. Los Angeles Capital Management LLC acquired a new stake in shares of Liberty Energy in the fourth quarter valued at approximately $29,000. Kelleher Financial Advisors acquired a new stake in shares of Liberty Energy in the third quarter valued at approximately $29,000. First Horizon Corp raised its stake in shares of Liberty Energy by 58.2% during the fourth quarter. First Horizon Corp now owns 1,620 shares of the company’s stock worth $30,000 after purchasing an additional 596 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Liberty Energy during the fourth quarter worth approximately $32,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Liberty Energy during the third quarter worth approximately $35,000. 98.22% of the stock is owned by institutional investors and hedge funds.

Liberty Energy Trading Up 2.8%

NYSE:LBRT opened at $28.81 on Friday. The stock has a fifty day moving average price of $30.44 and a two-hundred day moving average price of $25.79. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 2.47 and a beta of 0.51. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.97 and a current ratio of 2.21. Liberty Energy Inc. has a 1 year low of $9.90 and a 1 year high of $34.48.

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

Liberty Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.36 annualized dividend and a yield of 1.2%. Liberty Energy’s dividend payout ratio is 39.56%.

Analyst Ratings Changes

Several equities research analysts have recently commented on LBRT shares. Barclays upped their price target on Liberty Energy from $29.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. UBS Group restated a “buy” rating on shares of Liberty Energy in a research note on Tuesday, May 26th. Stifel Nicolaus upped their price target on Liberty Energy from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Bank of America upgraded Liberty Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Tuesday, February 17th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $32.00 price objective on shares of Liberty Energy in a research report on Friday, April 24th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.18.

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, CFO Michael Stock sold 3,333 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $31.00, for a total value of $103,323.00. Following the sale, the chief financial officer owned 783,710 shares of the company’s stock, valued at approximately $24,295,010. This represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman William F. Kimble sold 7,350 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $33.92, for a total value of $249,312.00. Following the completion of the sale, the chairman directly owned 89,805 shares in the company, valued at $3,046,185.60. This trade represents a 7.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 44,013 shares of company stock worth $1,414,929 in the last three months. 2.00% of the stock is owned by corporate insiders.

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. 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.