Atom Investors LP Makes New Investment in Liberty Energy Inc. $LBRT

Atom Investors LP purchased a new position in shares of Liberty Energy Inc. (NYSE:LBRT) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 513,742 shares of the company’s stock, valued at approximately $9,484,000. Liberty Energy accounts for 0.8% of Atom Investors LP’s portfolio, making the stock its 17th biggest position.

A number of other hedge funds also recently modified their holdings of LBRT. Franklin Resources Inc. raised its position in shares of Liberty Energy by 78.5% during the third quarter. Franklin Resources Inc. now owns 8,575,840 shares of the company’s stock worth $105,826,000 after purchasing an additional 3,771,724 shares during the period. Balyasny Asset Management L.P. raised its position in shares of Liberty Energy by 1,529.2% during the third quarter. Balyasny Asset Management L.P. now owns 2,753,357 shares of the company’s stock worth $33,976,000 after purchasing an additional 2,584,359 shares during the period. Sourcerock Group LLC acquired a new stake in shares of Liberty Energy during the second quarter worth about $23,653,000. Eventide Asset Management LLC acquired a new stake in shares of Liberty Energy during the fourth quarter worth about $36,394,000. Finally, Cooper Creek Partners Management LLC acquired a new stake in shares of Liberty Energy during the third quarter worth about $22,336,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

Liberty Energy Stock Down 2.6%

LBRT stock opened at $27.34 on Wednesday. The company has a current ratio of 2.21, a quick ratio of 1.97 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $4.46 billion, a PE ratio of 30.04, a PEG ratio of 2.40 and a beta of 0.51. Liberty Energy Inc. has a 1-year low of $9.90 and a 1-year high of $34.48. The business’s 50 day simple moving average is $30.42 and its 200 day simple moving average is $25.99.

Liberty Energy (NYSE:LBRT) last posted its earnings results on Wednesday, April 22nd. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.19. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $954.71 million. Liberty Energy had a return on equity of 1.41% and a net margin of 3.71%.The firm’s revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.04 EPS. As a group, research analysts anticipate that Liberty Energy Inc. will post 0.25 EPS for the current year.

Liberty Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be paid a $0.09 dividend. The ex-dividend date is Thursday, June 4th. This represents a $0.36 annualized dividend and a yield of 1.3%. Liberty Energy’s payout ratio is 39.56%.

Analyst Ratings Changes

LBRT has been the subject of a number of research reports. UBS Group reiterated a “buy” rating on shares of Liberty Energy in a report on Tuesday, May 26th. Barclays lifted their target price on Liberty Energy from $29.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Piper Sandler lifted their target price on Liberty Energy from $32.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Citigroup lifted their target price on Liberty Energy from $21.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Finally, Morgan Stanley set a $36.00 target price on Liberty Energy in a research report on Monday, April 27th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Liberty Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.18.

Insider Buying and Selling at Liberty Energy

In other 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 transaction of $249,312.00. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Stock sold 3,333 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $31.00, for a total value of $103,323.00. Following the transaction, the chief financial officer directly owned 783,710 shares of the company’s stock, valued at $24,295,010. This trade represents a 0.42% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 44,013 shares of company stock valued at $1,414,929 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

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. 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.