Citigroup Inc. lifted its stake in shares of Liberty Energy Inc. (NYSE:LBRT – Free Report) by 38.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,885 shares of the company’s stock after purchasing an additional 23,863 shares during the quarter. Citigroup Inc. owned 0.05% of Liberty Energy worth $1,591,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Liberty Energy in the third quarter valued at about $1,920,000. Texas Permanent School Fund Corp bought a new position in Liberty Energy in the 3rd quarter valued at approximately $2,439,000. Mutual of America Capital Management LLC acquired a new stake in Liberty Energy during the 3rd quarter worth approximately $503,000. Jupiter Asset Management Ltd. bought a new stake in Liberty Energy during the 3rd quarter worth approximately $190,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Liberty Energy in the 3rd quarter valued at approximately $211,000. 91.34% of the stock is currently owned by institutional investors and hedge funds.
Liberty Energy Stock Performance
Shares of Liberty Energy stock opened at $20.88 on Monday. The company has a market cap of $3.48 billion, a P/E ratio of 6.61, a PEG ratio of 0.96 and a beta of 1.88. The company has a current ratio of 1.49, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $18.93 and a two-hundred day moving average price of $18.53. Liberty Energy Inc. has a 1-year low of $11.18 and a 1-year high of $21.72.
Liberty Energy (NYSE:LBRT – Get Free Report) last released its earnings results on Wednesday, January 24th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.03). Liberty Energy had a return on equity of 32.28% and a net margin of 11.72%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the business earned $0.82 EPS. The company’s revenue for the quarter was down 12.3% on a year-over-year basis. As a group, analysts anticipate that Liberty Energy Inc. will post 2.78 EPS for the current year.
Liberty Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th will be paid a $0.07 dividend. The ex-dividend date is Tuesday, March 5th. This represents a $0.28 annualized dividend and a dividend yield of 1.34%. Liberty Energy’s dividend payout ratio is currently 8.86%.
Insider Buying and Selling
In other Liberty Energy news, CEO Christopher A. Wright sold 2,100 shares of Liberty Energy stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $19.04, for a total value of $39,984.00. Following the completion of the sale, the chief executive officer now directly owns 2,839,760 shares of the company’s stock, valued at $54,069,030.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Christopher A. Wright sold 25,126 shares of Liberty Energy stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $19.31, for a total value of $485,183.06. Following the completion of the sale, the chief executive officer now owns 2,864,271 shares of the company’s stock, valued at approximately $55,309,073.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher A. Wright sold 2,100 shares of the company’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $19.04, for a total transaction of $39,984.00. Following the transaction, the chief executive officer now owns 2,839,760 shares in the company, valued at approximately $54,069,030.40. The disclosure for this sale can be found here. Insiders have sold a total of 54,611 shares of company stock valued at $1,082,751 over the last ninety days. 3.60% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Liberty Energy from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Piper Sandler lifted their target price on Liberty Energy from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Citigroup decreased their price target on Liberty Energy from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, December 14th. Finally, Wells Fargo & Company cut their price objective on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, December 21st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.75.
Read Our Latest Analysis on Liberty Energy
About Liberty Energy
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.
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Source: americanbankingnews.com
