Manning & Napier Advisors LLC Has $8.04 Million Holdings in Liberty Energy Inc. $LBRT

Manning & Napier Advisors LLC lessened its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 27.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 435,456 shares of the company’s stock after selling 164,444 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Liberty Energy were worth $8,039,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Kelleher Financial Advisors acquired a new stake in shares of Liberty Energy during the 3rd quarter valued at about $29,000. First Horizon Corp boosted its position in shares of Liberty Energy by 58.2% during the 4th quarter. First Horizon Corp now owns 1,620 shares of the company’s stock valued at $30,000 after acquiring an additional 596 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Liberty Energy during the 4th quarter valued at about $32,000. Advisory Services Network LLC acquired a new stake in shares of Liberty Energy during the 3rd quarter valued at about $35,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Liberty Energy by 213.7% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,607 shares of the company’s stock valued at $42,000 after acquiring an additional 2,457 shares in the last quarter. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Liberty Energy Price Performance

NYSE:LBRT opened at $33.08 on Friday. The firm has a market cap of $5.40 billion, a PE ratio of 36.35 and a beta of 0.56. Liberty Energy Inc. has a 12 month low of $9.90 and a 12 month high of $34.42. The company has a quick ratio of 1.97, a current ratio of 2.21 and a debt-to-equity ratio of 0.75. The company’s 50-day moving average price is $29.40 and its two-hundred day moving average price is $23.24.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.19. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $954.71 million. Liberty Energy had a net margin of 3.71% and a return on equity of 1.41%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.04 earnings per share. On average, equities analysts anticipate that Liberty Energy Inc. will post -0.19 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.36 dividend on an annualized basis and a yield of 1.1%. Liberty Energy’s payout ratio is currently 39.56%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and set a $32.00 target price on shares of Liberty Energy in a research report on Friday, April 24th. The Goldman Sachs Group boosted their price target on Liberty Energy from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, March 4th. Morgan Stanley set a $36.00 price target on Liberty Energy in a research note on Monday, April 27th. Citigroup boosted their price target on Liberty Energy from $21.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Finally, Piper Sandler boosted their price target on Liberty Energy from $32.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Liberty Energy presently has an average rating of “Moderate Buy” and a consensus target price of $30.42.

Insiders Place Their Bets

In other Liberty Energy news, Chairman William F. Kimble sold 7,350 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $33.92, for a total value of $249,312.00. Following the transaction, the chairman owned 89,805 shares of the company’s stock, valued at approximately $3,046,185.60. The trade was a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arjun N. Murti acquired 9,696 shares of Liberty Energy stock in a transaction on Tuesday, February 17th. The stock was acquired at an average cost of $25.79 per share, for a total transaction of $250,059.84. Following the purchase, the director owned 27,568 shares of the company’s stock, valued at approximately $710,978.72. This represents a 54.25% increase in their position. The SEC filing for this purchase provides additional information. 2.00% of the stock is currently owned by 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. As of as of December 31, 2023, the company owned and operated a fleet of approximately 40 active hydraulic fracturing; and two sand mines in the Permian Basin.