Readystate Asset Management LP Acquires New Position in Liberty Energy Inc. $LBRT

Readystate Asset Management LP acquired a new stake in shares of Liberty Energy Inc. (NYSE:LBRT) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 216,096 shares of the company’s stock, valued at approximately $5,660,000. Readystate Asset Management LP owned approximately 0.13% of Liberty Energy as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. Root Financial Partners LLC increased its position in shares of Liberty Energy by 79.6% during the first quarter. Root Financial Partners LLC now owns 914 shares of the company’s stock valued at $26,000 after acquiring an additional 405 shares in the last quarter. Valued Wealth Advisors LLC bought a new position in Liberty Energy in the 1st quarter valued at approximately $26,000. Summit Securities Group LLC bought a new position in Liberty Energy in the 1st quarter valued at approximately $28,000. Los Angeles Capital Management LLC purchased a new stake in Liberty Energy during the 4th quarter valued at $29,000. Finally, Kelleher Financial Advisors purchased a new stake in Liberty Energy during the 3rd quarter valued at $29,000. 98.22% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Liberty Energy

In other Liberty Energy news, Director Arjun N. Murti bought 14,053 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was bought at an average cost of $17.79 per share, for a total transaction of $250,002.87. Following the completion of the transaction, the director owned 41,621 shares of the company’s stock, valued at $740,437.59. This represents a 50.98% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Stock sold 6,666 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $19.84, for a total transaction of $132,253.44. Following the sale, the chief financial officer owned 760,379 shares of the company’s stock, valued at $15,085,919.36. This trade represents a 0.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 19,998 shares of company stock valued at $450,955. Corporate insiders own 2.00% of the company’s stock.

Liberty Energy Stock Performance

LBRT stock opened at $20.56 on Monday. The company has a market cap of $3.36 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 3.01 and a beta of 0.61. Liberty Energy Inc. has a 1 year low of $9.90 and a 1 year high of $34.48. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.99 and a quick ratio of 1.75. The stock’s fifty day moving average price is $21.38 and its 200-day moving average price is $26.64.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.09 billion. Liberty Energy had a return on equity of 1.14% and a net margin of 2.92%.Liberty Energy’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 earnings per share. On average, equities analysts forecast that Liberty Energy Inc. will post 0.33 earnings per share for the current year.

Liberty Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, September 4th. Liberty Energy’s payout ratio is currently 48.65%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LBRT. UBS Group restated a “buy” rating on shares of Liberty Energy in a research note on Friday, June 26th. Piper Sandler reduced their price objective on Liberty Energy from $34.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, August 27th. Morgan Stanley set a $32.00 target price on Liberty Energy in a research report on Friday, July 24th. Weiss Ratings restated a “hold (c)” rating on shares of Liberty Energy in a research note on Wednesday, July 29th. Finally, The Goldman Sachs Group set a $23.00 price target on shares of Liberty Energy in a report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Liberty Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

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. As of as of December 31, 2023, the company owned and operated a fleet of approximately 40 active hydraulic fracturing; and two sand mines in the Permian Basin.