Liberty Energy Inc. (NYSE:LBRT) Position Reduced by Hennessy Advisors Inc.

Hennessy Advisors Inc. decreased its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 78.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 482,000 shares of the company’s stock after selling 1,774,400 shares during the period. Hennessy Advisors Inc. owned 0.29% of Liberty Energy worth $9,587,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its position in Liberty Energy by 17.1% in the third quarter. FMR LLC now owns 18,115,282 shares of the company’s stock worth $345,821,000 after buying an additional 2,640,119 shares during the last quarter. Pacer Advisors Inc. grew its position in Liberty Energy by 15.9% in the third quarter. Pacer Advisors Inc. now owns 7,012,382 shares of the company’s stock worth $133,866,000 after buying an additional 963,068 shares during the last quarter. State Street Corp grew its position in Liberty Energy by 2.7% in the third quarter. State Street Corp now owns 6,662,830 shares of the company’s stock worth $127,193,000 after buying an additional 176,887 shares during the last quarter. Canoe Financial LP grew its position in Liberty Energy by 20.4% in the third quarter. Canoe Financial LP now owns 4,124,695 shares of the company’s stock worth $79,408,000 after buying an additional 699,500 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Liberty Energy by 5.8% in the third quarter. Geode Capital Management LLC now owns 3,779,906 shares of the company’s stock worth $72,173,000 after buying an additional 207,527 shares during the last quarter. Institutional investors own 98.22% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on LBRT shares. Stifel Nicolaus decreased their price target on shares of Liberty Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. The Goldman Sachs Group assumed coverage on shares of Liberty Energy in a research report on Friday, December 13th. They issued a “neutral” rating and a $19.00 price target on the stock. Royal Bank of Canada lowered their price objective on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. TD Cowen lowered their price objective on shares of Liberty Energy from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company lowered their price objective on shares of Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.20.

Liberty Energy Trading Up 2.0 %

Liberty Energy stock opened at $23.13 on Friday. The company’s fifty day simple moving average is $19.08 and its 200-day simple moving average is $19.72. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. Liberty Energy Inc. has a 12 month low of $16.57 and a 12 month high of $24.75. The stock has a market cap of $3.78 billion, a P/E ratio of 11.01 and a beta of 1.66.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data 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). Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the firm posted $0.85 EPS. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. As a group, sell-side analysts forecast that Liberty Energy Inc. will post 1.66 EPS for the current fiscal year.

Insider Activity at Liberty Energy

In related news, CEO Christopher A. Wright sold 2,037 shares of Liberty Energy stock in a transaction on 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 owns 2,578,813 shares of the company’s stock, valued at approximately $46,805,455.95. The trade was a 0.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Stock sold 20,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $20.82, for a total transaction of $416,400.00. Following the transaction, the chief financial officer now directly owns 680,207 shares of the company’s stock, valued at approximately $14,161,909.74. This represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,973 shares of company stock valued at $1,586,335. Insiders own 3.60% of the company’s stock.

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.