QRG Capital Management Inc. Acquires 7,969 Shares of Liberty Energy Inc. (NYSE:LBRT)

QRG Capital Management Inc. lifted its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 14.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 64,983 shares of the company’s stock after acquiring an additional 7,969 shares during the period. QRG Capital Management Inc.’s holdings in Liberty Energy were worth $1,346,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Clifford Capital Partners LLC lifted its holdings in shares of Liberty Energy by 2.3% during the 1st quarter. Clifford Capital Partners LLC now owns 545,893 shares of the company’s stock worth $11,311,000 after acquiring an additional 12,326 shares during the period. Empowered Funds LLC lifted its holdings in shares of Liberty Energy by 19.8% during the 1st quarter. Empowered Funds LLC now owns 331,432 shares of the company’s stock worth $6,867,000 after acquiring an additional 54,777 shares during the period. LSV Asset Management lifted its holdings in shares of Liberty Energy by 60.2% during the 1st quarter. LSV Asset Management now owns 1,437,041 shares of the company’s stock worth $29,775,000 after acquiring an additional 539,861 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in Liberty Energy by 4.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 14,262 shares of the company’s stock valued at $296,000 after purchasing an additional 543 shares during the last quarter. Finally, Duality Advisers LP bought a new position in Liberty Energy during the 1st quarter valued at about $248,000. 98.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Citigroup raised shares of Liberty Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $24.00 to $32.00 in a report on Wednesday, May 29th. Morgan Stanley reissued an “equal weight” rating and set a $24.00 price target on shares of Liberty Energy in a report on Monday, April 22nd. TD Cowen lifted their price target on shares of Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a report on Friday, April 19th. Barclays lifted their price target on shares of Liberty Energy from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Bank of America cut their price target on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Monday. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

Liberty Energy Trading Up 0.8 %

Shares of NYSE:LBRT traded up $0.17 during trading on Wednesday, hitting $22.31. 753,058 shares of the company’s stock were exchanged, compared to its average volume of 2,672,115. Liberty Energy Inc. has a 1-year low of $14.75 and a 1-year high of $24.75. The firm has a 50-day moving average price of $21.96 and a two-hundred day moving average price of $21.00. The company has a current ratio of 1.48, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17. The firm has a market cap of $3.72 billion, a P/E ratio of 8.08, a PEG ratio of 1.17 and a beta of 1.74.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Thursday, April 18th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.06). Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The firm’s quarterly revenue was down 12.8% compared to the same quarter last year. Equities analysts predict that Liberty Energy Inc. will post 2.37 earnings per share for the current year.

Insider Transactions at Liberty Energy

In other news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $21.64, for a total transaction of $432,800.00. Following the completion of the sale, the chief executive officer now owns 2,818,814 shares in the company, valued at approximately $60,999,134.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, President Ron Gusek sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $22.99, for a total transaction of $1,149,500.00. Following the completion of the transaction, the president now owns 1,213,259 shares in the company, valued at $27,892,824.41. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $21.64, for a total transaction of $432,800.00. Following the transaction, the chief executive officer now owns 2,818,814 shares of the company’s stock, valued at approximately $60,999,134.96. The disclosure for this sale can be found here. Insiders sold a total of 176,000 shares of company stock worth $3,932,731 in the last quarter. 3.60% of the stock is owned by company 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.