Benjamin Edwards Inc. Acquires 2,003 Shares of Liberty Energy Inc. (NYSE:LBRT)

Benjamin Edwards Inc. grew its holdings in Liberty Energy Inc. (NYSE:LBRT) by 13.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,385 shares of the company’s stock after acquiring an additional 2,003 shares during the period. Benjamin Edwards Inc.’s holdings in Liberty Energy were worth $315,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of LBRT. Dakota Wealth Management acquired a new position in shares of Liberty Energy during the third quarter worth approximately $223,000. Raymond James & Associates increased its position in Liberty Energy by 3.1% during the third quarter. Raymond James & Associates now owns 65,178 shares of the company’s stock worth $1,207,000 after acquiring an additional 1,943 shares during the period. Bank of New York Mellon Corp boosted its holdings in Liberty Energy by 53.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,244,480 shares of the company’s stock valued at $41,568,000 after purchasing an additional 778,111 shares during the period. New York State Teachers Retirement System grew its position in Liberty Energy by 604.9% in the 3rd quarter. New York State Teachers Retirement System now owns 84,381 shares of the company’s stock worth $1,563,000 after purchasing an additional 72,410 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Liberty Energy by 17.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,129 shares of the company’s stock worth $577,000 after purchasing an additional 4,557 shares during the last quarter. Institutional investors and hedge funds 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, March 18th. The stock was sold at an average price of $20.27, for a total value of $405,400.00. Following the completion of the sale, the chief executive officer now directly owns 2,830,402 shares in the company, valued at $57,372,248.54. The sale was disclosed in a filing with the SEC, which is available at this link. In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $20.27, for a total value of $405,400.00. Following the transaction, the chief executive officer now owns 2,830,402 shares in the company, valued at $57,372,248.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Ron Gusek sold 50,000 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $22.99, for a total value of $1,149,500.00. Following the completion of the transaction, the president now owns 1,213,259 shares of the company’s stock, valued at $27,892,824.41. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 182,459 shares of company stock worth $4,025,391. Company insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LBRT shares. TD Cowen lifted their price objective on Liberty Energy from $19.00 to $21.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Royal Bank of Canada raised their price objective on shares of Liberty Energy from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. Barclays upped their target price on shares of Liberty Energy from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Piper Sandler lifted their price objective on Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Finally, Wells Fargo & Company increased their target price on Liberty Energy from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Liberty Energy has an average rating of “Moderate Buy” and a consensus price target of $24.30.

Liberty Energy Stock Performance

Shares of NYSE LBRT traded up $0.31 during midday trading on Friday, hitting $21.64. 2,733,234 shares of the company’s stock were exchanged, compared to its average volume of 2,619,029. Liberty Energy Inc. has a 12 month low of $11.62 and a 12 month high of $23.31. The company’s 50 day moving average price is $21.55 and its 200 day moving average price is $19.98. The company has a quick ratio of 1.16, a current ratio of 1.48 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $3.61 billion, a PE ratio of 7.90, a price-to-earnings-growth ratio of 1.08 and a beta of 1.83.

Liberty Energy (NYSE:LBRT) last posted its earnings results on Thursday, April 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the business posted $0.90 EPS. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. As a group, analysts predict that Liberty Energy Inc. will post 2.52 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Wednesday, June 5th. Liberty Energy’s payout ratio is 10.22%.

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.