Peregrine Capital Management LLC Sells 1,186 Shares of Liberty Energy Inc. (NYSE:LBRT)

Peregrine Capital Management LLC trimmed its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 343,924 shares of the company’s stock after selling 1,186 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.21% of Liberty Energy worth $7,185,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Jackson Creek Investment Advisors LLC bought a new stake in shares of Liberty Energy in the 4th quarter worth approximately $800,000. Foundry Partners LLC raised its holdings in Liberty Energy by 15.6% in the 1st quarter. Foundry Partners LLC now owns 209,056 shares of the company’s stock worth $4,332,000 after acquiring an additional 28,153 shares during the last quarter. LSV Asset Management raised its holdings in Liberty Energy by 522.2% in the 4th quarter. LSV Asset Management now owns 897,180 shares of the company’s stock worth $16,275,000 after acquiring an additional 752,980 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Liberty Energy by 114.2% in the 1st quarter. Russell Investments Group Ltd. now owns 174,265 shares of the company’s stock worth $3,611,000 after acquiring an additional 92,923 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its holdings in Liberty Energy by 14.1% in the 1st quarter. Hennessy Advisors Inc. now owns 1,338,400 shares of the company’s stock worth $27,732,000 after acquiring an additional 165,400 shares during the last quarter. 98.22% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Michael Stock sold 4,374 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $21.01, for a total value of $91,897.74. Following the completion of the transaction, the chief financial officer now owns 785,207 shares of the company’s stock, valued at approximately $16,497,199.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Michael Stock sold 4,374 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $21.01, for a total value of $91,897.74. Following the completion of the transaction, the chief financial officer now owns 785,207 shares of the company’s stock, valued at approximately $16,497,199.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $20.26, for a total transaction of $405,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,758,813 shares of the company’s stock, valued at approximately $55,893,551.38. The disclosure for this sale can be found here. Insiders sold a total of 80,000 shares of company stock valued at $1,767,231 in the last 90 days. Company insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Bank of America decreased their price objective on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Citigroup upgraded shares of Liberty Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $24.00 to $32.00 in a report on Wednesday, May 29th. Piper Sandler decreased their target price on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Barclays decreased their target price on shares of Liberty Energy from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Tuesday, July 23rd. Finally, TD Cowen decreased their target price on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Friday, July 19th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Liberty Energy has a consensus rating of “Moderate Buy” and an average target price of $24.78.

Liberty Energy Stock Performance

Shares of LBRT stock traded down $0.14 during mid-day trading on Friday, reaching $20.59. 1,139,279 shares of the company’s stock traded hands, compared to its average volume of 2,553,788. Liberty Energy Inc. has a 12 month low of $15.64 and a 12 month high of $24.75. The firm has a 50 day moving average price of $20.99 and a two-hundred day moving average price of $21.56. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35. The firm has a market capitalization of $3.43 billion, a PE ratio of 7.51, a price-to-earnings-growth ratio of 1.33 and a beta of 1.74.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm posted $0.87 EPS. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, research analysts forecast that Liberty Energy Inc. will post 2.19 EPS for the current year.

Liberty Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Friday, September 6th. Liberty Energy’s payout ratio is 10.22%.

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.