Liberty Energy Inc. (NYSE:LBRT) Stock Holdings Raised by Impala Asset Management LLC

Impala Asset Management LLC raised its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 89.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 350,000 shares of the company’s stock after purchasing an additional 165,000 shares during the period. Liberty Energy makes up approximately 4.6% of Impala Asset Management LLC’s holdings, making the stock its 6th largest holding. Impala Asset Management LLC owned approximately 0.21% of Liberty Energy worth $6,682,000 at the end of the most recent reporting period.

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

Insider Transactions at Liberty Energy

In related news, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $19.91, for a total value of $398,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,678,813 shares in the company, valued at $53,335,166.83. The trade was a 0.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Stock sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $18.49, for a total transaction of $184,900.00. Following the completion of the transaction, the chief financial officer now owns 705,207 shares of the company’s stock, valued at approximately $13,039,277.43. The trade was a 1.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,037 shares of company stock valued at $2,088,232 in the last ninety days. 3.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank of Canada cut their target price 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. Barclays cut their target price on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Wells Fargo & Company cut their target price 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. Stifel Nicolaus cut their target price on Liberty Energy from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Finally, Atb Cap Markets cut Liberty Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Liberty Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.89.

Liberty Energy Stock Performance

Liberty Energy stock opened at $17.41 on Tuesday. The stock’s 50 day simple moving average is $18.40 and its two-hundred day simple moving average is $20.11. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 1.23. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 8.29 and a beta of 1.71. Liberty Energy Inc. has a fifty-two week low of $16.57 and a fifty-two week high of $24.75.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.10). Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The business’s revenue was down 6.4% compared to the same quarter last year. As a group, analysts expect that Liberty Energy Inc. will post 1.75 earnings per share for the current fiscal year.

Liberty Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.08 dividend. This is a boost from Liberty Energy’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Friday, December 6th. Liberty Energy’s payout ratio 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.