Liberty Energy Inc. (NYSE:LBRT) Shares Sold by Clifford Capital Partners LLC

Clifford Capital Partners LLC reduced its stake in Liberty Energy Inc. (NYSE:LBRT) by 3.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 625,608 shares of the company’s stock after selling 24,140 shares during the quarter. Liberty Energy accounts for 2.4% of Clifford Capital Partners LLC’s investment portfolio, making the stock its 28th biggest holding. Clifford Capital Partners LLC’s holdings in Liberty Energy were worth $11,943,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of LBRT. Empowered Funds LLC raised its position in Liberty Energy by 45.1% during the 3rd quarter. Empowered Funds LLC now owns 495,578 shares of the company’s stock worth $9,461,000 after buying an additional 154,070 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Liberty Energy by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 872,215 shares of the company’s stock valued at $16,651,000 after purchasing an additional 37,927 shares in the last quarter. Quest Partners LLC increased its position in Liberty Energy by 168.2% during the 3rd quarter. Quest Partners LLC now owns 62,979 shares of the company’s stock worth $1,202,000 after purchasing an additional 39,497 shares during the period. Mutual of America Capital Management LLC lifted its holdings in shares of Liberty Energy by 27.2% in the 3rd quarter. Mutual of America Capital Management LLC now owns 466,411 shares of the company’s stock valued at $8,904,000 after buying an additional 99,722 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Liberty Energy in the third quarter valued at approximately $619,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

Wall Street Analysts Forecast Growth

LBRT has been the subject of a number of recent analyst reports. Citigroup downgraded Liberty Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $25.00 to $19.00 in a report on Friday, October 18th. Barclays lowered their target price on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Stifel Nicolaus reduced their price target on shares of Liberty Energy from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Royal Bank of Canada dropped their price objective on Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Finally, Atb Cap Markets downgraded Liberty Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.89.

Insiders Place Their Bets

In other news, CFO Michael Stock sold 5,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $17.21, for a total transaction of $86,050.00. Following the completion of the transaction, the chief financial officer now owns 725,207 shares of the company’s stock, valued at $12,480,812.47. This represents a 0.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher A. Wright sold 2,037 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $18.15, for a total transaction of $36,971.55. Following the completion of the sale, the chief executive officer now directly owns 2,578,813 shares in the company, valued at $46,805,455.95. This represents a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 99,037 shares of company stock valued at $1,911,802. Company insiders own 3.70% of the company’s stock.

Liberty Energy Stock Down 1.8 %

Shares of NYSE:LBRT opened at $18.38 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $3.00 billion, a P/E ratio of 8.75 and a beta of 1.70. Liberty Energy Inc. has a 52-week low of $16.57 and a 52-week high of $24.75. The stock’s fifty day simple moving average is $18.74 and its 200-day simple moving average is $20.44.

Liberty Energy (NYSE:LBRT) last released its earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. Liberty Energy’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter last year, the company posted $0.85 earnings per share. As a group, equities research analysts forecast that Liberty Energy Inc. will post 1.75 earnings per share for the current fiscal year.

Liberty Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, December 6th. This represents a $0.32 dividend on an annualized basis and a yield of 1.74%. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07. Liberty Energy’s dividend payout ratio (DPR) is 13.33%.

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.