Readystate Asset Management LP Makes New $5.66 Million Investment in Liberty Energy Inc. $LBRT

Readystate Asset Management LP acquired a new position in Liberty Energy Inc. (NYSE:LBRT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 216,096 shares of the company’s stock, valued at approximately $5,660,000.

A number of other large investors have also recently made changes to their positions in LBRT. AlphaGrep UK Ltd bought a new stake in Liberty Energy during the 2nd quarter worth approximately $310,000. Nykredit A S bought a new position in shares of Liberty Energy in the second quarter worth approximately $171,000. Proficio Capital Partners LLC bought a new position in shares of Liberty Energy in the second quarter worth approximately $240,000. Bank of New York Mellon Corp purchased a new stake in shares of Liberty Energy in the second quarter worth $61,185,000. Finally, California State Teachers Retirement System increased its stake in shares of Liberty Energy by 5.7% in the first quarter. California State Teachers Retirement System now owns 187,592 shares of the company’s stock worth $5,403,000 after purchasing an additional 10,194 shares in the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Michael Stock sold 9,999 shares of Liberty Energy stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $25.89, for a total value of $258,874.11. Following the sale, the chief financial officer directly owned 773,711 shares of the company’s stock, valued at approximately $20,031,377.79. The trade was a 1.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Arjun N. Murti bought 14,053 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was purchased at an average price of $17.79 per share, for a total transaction of $250,002.87. Following the completion of the transaction, the director directly owned 41,621 shares of the company’s stock, valued at $740,437.59. This represents a 50.98% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 19,998 shares of company stock valued at $450,955 in the last three months. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LBRT. Weiss Ratings restated a “hold (c)” rating on shares of Liberty Energy in a research report on Wednesday, July 29th. Zacks Research lowered Liberty Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Morgan Stanley set a $32.00 price target on Liberty Energy in a report on Friday, July 24th. Royal Bank Of Canada decreased their price target on Liberty Energy from $34.00 to $29.00 and set a “sector perform” rating on the stock in a report on Friday, July 24th. Finally, Stifel Nicolaus dropped their price objective on Liberty Energy from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $30.00.

Liberty Energy Trading Down 0.1%

Liberty Energy stock opened at $20.56 on Monday. Liberty Energy Inc. has a 1 year low of $9.90 and a 1 year high of $34.48. The firm’s 50 day moving average price is $21.38 and its 200-day moving average price is $26.64. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.99 and a quick ratio of 1.75. The stock has a market cap of $3.36 billion, a P/E ratio of 27.78, a PEG ratio of 3.01 and a beta of 0.61.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Wednesday, July 22nd. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.09 billion. Liberty Energy had a net margin of 2.92% and a return on equity of 1.14%. Liberty Energy’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 earnings per share. On average, equities analysts predict that Liberty Energy Inc. will post 0.33 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be paid a $0.09 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.36 annualized dividend and a yield of 1.8%. Liberty Energy’s payout ratio is presently 48.65%.

Liberty Energy 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.