Thrivent Financial for Lutherans Has $2.48 Million Holdings in Liberty Energy Inc. (NYSE:LBRT)

Thrivent Financial for Lutherans boosted its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 3.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 129,833 shares of the company’s stock after purchasing an additional 3,939 shares during the period. Thrivent Financial for Lutherans owned about 0.08% of Liberty Energy worth $2,479,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. EdgeRock Capital LLC acquired a new stake in shares of Liberty Energy during the 2nd quarter valued at $32,000. Covestor Ltd boosted its holdings in Liberty Energy by 96.8% in the third quarter. Covestor Ltd now owns 1,704 shares of the company’s stock valued at $33,000 after acquiring an additional 838 shares during the last quarter. GAMMA Investing LLC increased 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 purchasing an additional 713 shares during the period. nVerses Capital LLC raised its holdings in Liberty Energy by 45.0% during the 2nd quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock worth $61,000 after purchasing an additional 900 shares during the last quarter. Finally, US Bancorp DE boosted its stake 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 purchasing an additional 2,016 shares during the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LBRT. Citigroup cut shares of Liberty Energy from a “buy” rating to a “neutral” rating and cut their price target for the company from $25.00 to $19.00 in a research report on Friday, October 18th. Stifel Nicolaus decreased their target price on Liberty Energy from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Evercore ISI raised Liberty Energy to a “strong-buy” rating in a research note on Thursday, October 17th. Atb Cap Markets downgraded shares of Liberty Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada lowered their price objective on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.89.

Liberty Energy Stock Performance

LBRT opened at $18.38 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 market cap of $3.00 billion, a price-to-earnings ratio of 8.82 and a beta of 1.70. The company’s fifty day moving average price is $18.79 and its two-hundred day moving average price is $20.46. The company has a current ratio of 1.23, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.10). The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. Liberty Energy’s revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS. On average, analysts expect that Liberty Energy Inc. will post 1.75 EPS for the current fiscal year.

Liberty Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given 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 annualized dividend and a dividend yield of 1.74%. Liberty Energy’s payout ratio is presently 13.33%.

Insider Buying and Selling

In related news, CFO Michael Stock sold 15,000 shares of Liberty Energy stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $20.01, for a total transaction of $300,150.00. Following the sale, the chief financial officer now directly owns 750,207 shares in the company, valued at approximately $15,011,642.07. This trade represents a 1.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $19.91, for a total value of $398,200.00. Following the completion of the transaction, the chief executive officer now owns 2,678,813 shares of the company’s stock, valued at $53,335,166.83. This trade represents a 0.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,037 shares of company stock worth $1,911,802. 3.70% of the stock is owned by corporate insiders.

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.