Harbor Capital Advisors Inc. Raises Stake in Liberty Energy Inc. (NYSE:LBRT)

Harbor Capital Advisors Inc. increased its stake in Liberty Energy Inc. (NYSE:LBRT) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,515 shares of the company’s stock after buying an additional 2,128 shares during the period. Harbor Capital Advisors Inc.’s holdings in Liberty Energy were worth $1,556,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LBRT. EdgeRock Capital LLC bought a new position in Liberty Energy during the 2nd quarter worth about $32,000. GAMMA Investing LLC boosted its position in Liberty Energy by 69.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock valued at $36,000 after acquiring an additional 713 shares in the last quarter. nVerses Capital LLC increased its holdings in shares of Liberty Energy by 45.0% in the 2nd quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock valued at $61,000 after acquiring an additional 900 shares during the period. US Bancorp DE increased its holdings in shares of Liberty Energy by 93.2% in the 3rd quarter. US Bancorp DE now owns 4,180 shares of the company’s stock valued at $80,000 after acquiring an additional 2,016 shares during the period. Finally, CWM LLC raised its position in shares of Liberty Energy by 43.3% in the 2nd quarter. CWM LLC now owns 6,213 shares of the company’s stock worth $130,000 after acquiring an additional 1,876 shares in the last quarter. Institutional investors own 98.22% of the company’s stock.

Insider Activity

In other Liberty Energy news, CFO Michael Stock sold 5,000 shares of Liberty Energy stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $21.01, for a total value of $105,050.00. Following the completion of the transaction, the chief financial officer now owns 745,207 shares of the company’s stock, valued at approximately $15,656,799.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Liberty Energy news, CFO Michael Stock sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $21.01, for a total value of $105,050.00. Following the sale, the chief financial officer now directly owns 745,207 shares of the company’s stock, valued at approximately $15,656,799.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $19.77, for a total value of $395,400.00. Following the transaction, the chief executive officer now directly owns 2,638,813 shares of the company’s stock, valued at approximately $52,169,333.01. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,000 shares of company stock valued at $1,573,300 in the last three months. 3.70% of the stock is currently owned by corporate insiders.

Liberty Energy Trading Up 2.2 %

Shares of Liberty Energy stock opened at $17.46 on Wednesday. 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 stock has a market cap of $2.85 billion, a PE ratio of 8.31 and a beta of 1.70. The firm has a fifty day moving average price of $19.28 and a 200 day moving average price of $20.89.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the business posted $0.85 EPS. The business’s quarterly revenue was down 6.4% on a year-over-year basis. Equities research analysts predict that Liberty Energy Inc. will post 1.75 earnings per share for the current year.

Liberty Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.08 per share. This is a boost from Liberty Energy’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.83%. Liberty Energy’s dividend payout ratio (DPR) is presently 15.24%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LBRT shares. Atb Cap Markets cut shares of Liberty Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Evercore ISI upgraded shares of Liberty Energy to a “strong-buy” rating in a report on Thursday, October 17th. Citigroup lowered shares of Liberty Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $25.00 to $19.00 in a research report on Friday, October 18th. Stifel Nicolaus dropped their target price on shares of Liberty Energy from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Finally, Wells Fargo & Company decreased their price target on shares of Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.89.

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.