Liberty Energy Inc. $LBRT Position Lessened by Hawk Ridge Capital Management LP

Hawk Ridge Capital Management LP lowered its stake in shares of Liberty Energy Inc. (NYSE:LBRT) by 14.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 767,182 shares of the company’s stock after selling 126,600 shares during the quarter. Hawk Ridge Capital Management LP owned approximately 0.47% of Liberty Energy worth $22,095,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Liberty Energy by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,205 shares of the company’s stock valued at $1,491,000 after buying an additional 4,095 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Liberty Energy by 1,992.2% during the first quarter. NewEdge Advisors LLC now owns 12,030 shares of the company’s stock worth $190,000 after acquiring an additional 11,455 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Liberty Energy by 0.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 868,978 shares of the company’s stock worth $13,756,000 after acquiring an additional 4,955 shares during the period. Intech Investment Management LLC increased its holdings in shares of Liberty Energy by 22.0% in the 1st quarter. Intech Investment Management LLC now owns 81,446 shares of the company’s stock worth $1,289,000 after acquiring an additional 14,663 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Liberty Energy in the 2nd quarter valued at about $119,000. 98.22% of the stock is currently owned by institutional investors.

Liberty Energy Stock Performance

Shares of NYSE LBRT opened at $16.85 on Tuesday. The stock has a fifty day moving average price of $26.88 and a two-hundred day moving average price of $27.19. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.75 and a current ratio of 1.99. The firm has a market cap of $2.75 billion, a P/E ratio of 22.78, a PEG ratio of 1.42 and a beta of 0.54. Liberty Energy Inc. has a 1 year low of $9.90 and a 1 year high of $34.48.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. Liberty Energy had a return on equity of 1.14% and a net margin of 2.92%.The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the firm earned $0.12 EPS. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. Research analysts forecast that Liberty Energy Inc. will post 0.28 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, September 4th. Liberty Energy’s payout ratio is presently 48.65%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Piper Sandler reduced their target price on shares of Liberty Energy from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Friday. Stifel Nicolaus dropped their price target on shares of Liberty Energy from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday. UBS Group reaffirmed a “buy” rating on shares of Liberty Energy in a report on Friday, June 26th. Barclays boosted their price objective on Liberty Energy from $29.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $31.00 price objective on shares of Liberty Energy in a report on Wednesday, June 3rd. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.09.

Insider Transactions at Liberty Energy

In other Liberty Energy news, CFO Michael Stock sold 19,998 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $33.48, for a total value of $669,533.04. Following the sale, the chief financial officer directly owned 800,375 shares in the company, valued at approximately $26,796,555. The trade was a 2.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman William F. Kimble sold 7,350 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $33.92, for a total transaction of $249,312.00. Following the completion of the sale, the chairman directly owned 89,805 shares of the company’s stock, valued at $3,046,185.60. The trade was a 7.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 54,012 shares of company stock worth $1,673,803. 2.00% 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. 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.