Canoe Financial LP Sells 1,676,127 Shares of Liberty Energy Inc. (NYSE:LBRT)

Canoe Financial LP decreased its stake in Liberty Energy Inc. (NYSE:LBRT) by 40.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,448,568 shares of the company’s stock after selling 1,676,127 shares during the quarter. Canoe Financial LP’s holdings in Liberty Energy were worth $48,702,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in LBRT. Empowered Funds LLC increased its holdings in shares of Liberty Energy by 45.1% during the third 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 in the last quarter. JPMorgan Chase & Co. grew its position in Liberty Energy by 61.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,146,179 shares of the company’s stock worth $60,061,000 after acquiring an additional 1,193,918 shares during the last quarter. Principal Financial Group Inc. increased 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 worth $16,651,000 after purchasing an additional 37,927 shares in the last quarter. Quest Partners LLC raised its position in Liberty Energy by 168.2% in the third quarter. Quest Partners LLC now owns 62,979 shares of the company’s stock valued at $1,202,000 after purchasing an additional 39,497 shares during the last quarter. Finally, Impala Asset Management LLC boosted its stake in shares of Liberty Energy by 89.2% during the third quarter. Impala Asset Management LLC now owns 350,000 shares of the company’s stock valued at $6,682,000 after purchasing an additional 165,000 shares in the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

Liberty Energy Stock Down 2.0 %

Shares of NYSE:LBRT opened at $22.67 on Friday. Liberty Energy Inc. has a 1 year low of $16.57 and a 1 year high of $24.75. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.97. The business’s 50-day moving average is $19.18 and its 200-day moving average is $19.74. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 10.79 and a beta of 1.66.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.10). The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. Liberty Energy’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period last year, the firm posted $0.85 earnings per share. Equities research analysts predict that Liberty Energy Inc. will post 1.66 earnings per share for the current year.

Insider Activity

In other news, CFO Michael Stock sold 20,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $20.82, for a total transaction of $416,400.00. Following the transaction, the chief financial officer now owns 680,207 shares of the company’s stock, valued at $14,161,909.74. This represents a 2.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher A. Wright sold 2,037 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $18.15, for a total value of $36,971.55. Following the completion of the sale, the chief executive officer now directly owns 2,578,813 shares of the company’s stock, valued at $46,805,455.95. The trade was a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 82,973 shares of company stock worth $1,586,335 in the last quarter. 3.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on LBRT. The Goldman Sachs Group initiated coverage on Liberty Energy in a research note on Friday, December 13th. They issued a “neutral” rating and a $19.00 price objective for the company. Stifel Nicolaus dropped their price target on shares of Liberty Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Seaport Res Ptn raised shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Sunday, January 5th. Royal Bank of Canada lowered their target price on Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Finally, Evercore ISI raised Liberty Energy to a “strong-buy” rating in a report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.20.

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.