Clifford Capital Partners LLC Grows Stock Holdings in Liberty Energy Inc. (NYSE:LBRT)

Clifford Capital Partners LLC lifted its position in Liberty Energy Inc. (NYSE:LBRT) by 19.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 649,748 shares of the company’s stock after purchasing an additional 103,855 shares during the quarter. Liberty Energy accounts for about 3.0% of Clifford Capital Partners LLC’s holdings, making the stock its 23rd largest holding. Clifford Capital Partners LLC owned approximately 0.39% of Liberty Energy worth $13,573,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Lord Abbett & CO. LLC purchased a new position in shares of Liberty Energy in the first quarter worth $27,809,000. Hennessy Advisors Inc. purchased a new stake in shares of Liberty Energy during the fourth quarter worth about $21,278,000. Norges Bank bought a new stake in shares of Liberty Energy in the fourth quarter worth about $13,877,000. American Century Companies Inc. increased its holdings in Liberty Energy by 17.6% during the 2nd quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock valued at $82,754,000 after purchasing an additional 594,051 shares during the period. Finally, LSV Asset Management raised its position in Liberty Energy by 60.2% during the 1st quarter. LSV Asset Management now owns 1,437,041 shares of the company’s stock valued at $29,775,000 after purchasing an additional 539,861 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Bank of America reduced their target price on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Barclays dropped their target price on shares of Liberty Energy from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. TD Cowen cut their target price on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. Finally, Piper Sandler decreased their price target on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.78.

Insider Activity at Liberty Energy

In other Liberty Energy news, CFO Michael Stock sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $22.92, for a total transaction of $458,400.00. Following the completion of the sale, the chief financial officer now directly owns 765,207 shares in the company, valued at approximately $17,538,544.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 64,374 shares of company stock worth $1,353,698. 3.60% of the stock is owned by insiders.

Liberty Energy Price Performance

NYSE LBRT opened at $19.95 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 7.28, a PEG ratio of 1.24 and a beta of 1.68. The stock has a 50-day moving average of $20.53 and a 200 day moving average of $21.39. Liberty Energy Inc. has a one year low of $16.33 and a one year high of $24.75.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data on Wednesday, July 17th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the company earned $0.87 earnings per share. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. On average, sell-side analysts forecast that Liberty Energy Inc. will post 2.18 EPS for the current year.

Liberty Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, September 6th. Liberty Energy’s payout ratio is currently 10.22%.

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.