Liberty Energy Inc. $LBRT Shares Sold by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY reduced its holdings in Liberty Energy Inc. (NYSE:LBRT) by 23.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,902 shares of the company’s stock after selling 22,332 shares during the period. Miller Howard Investments Inc. NY’s holdings in Liberty Energy were worth $2,128,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Liberty Energy by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 18,096,443 shares of the company’s stock worth $334,060,000 after acquiring an additional 97,998 shares during the period. Round Rock Advisors LLC boosted its position in Liberty Energy by 65.3% in the 4th quarter. Round Rock Advisors LLC now owns 104,213 shares of the company’s stock worth $1,956,000 after purchasing an additional 41,163 shares in the last quarter. Aventail Capital Group LP boosted its position in Liberty Energy by 94.6% in the 3rd quarter. Aventail Capital Group LP now owns 334,637 shares of the company’s stock worth $4,129,000 after purchasing an additional 162,668 shares in the last quarter. Citigroup Inc. grew its stake in shares of Liberty Energy by 23.1% during the 3rd quarter. Citigroup Inc. now owns 273,258 shares of the company’s stock worth $3,372,000 after purchasing an additional 51,266 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Liberty Energy by 23.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,876,443 shares of the company’s stock worth $23,155,000 after purchasing an additional 355,576 shares during the period. Institutional investors and hedge funds own 98.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LBRT. Stifel Nicolaus boosted their target price on shares of Liberty Energy from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Piper Sandler raised their price target on shares of Liberty Energy from $32.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $32.00 price objective on shares of Liberty Energy in a report on Friday, April 24th. UBS Group reiterated a “buy” rating on shares of Liberty Energy in a research report on Tuesday, May 26th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $31.00 target price on shares of Liberty Energy in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.18.

Insiders Place Their Bets

In other news, Chairman William F. Kimble sold 7,350 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $33.92, for a total value of $249,312.00. Following the transaction, the chairman directly owned 89,805 shares of the company’s stock, valued at approximately $3,046,185.60. This trade represents a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Michael Stock sold 3,333 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $31.00, for a total transaction of $103,323.00. Following the transaction, the chief financial officer owned 783,710 shares in the company, valued at $24,295,010. The trade was a 0.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 44,013 shares of company stock valued at $1,414,929 in the last ninety days. Insiders own 2.00% of the company’s stock.

Liberty Energy Stock Performance

NYSE LBRT opened at $26.21 on Thursday. The company has a market cap of $4.28 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 2.31 and a beta of 0.51. The stock’s 50 day simple moving average is $30.34 and its 200-day simple moving average is $26.36. Liberty Energy Inc. has a 1-year low of $9.90 and a 1-year high of $34.48. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.21 and a quick ratio of 1.97.

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

Liberty Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.4%. Liberty Energy’s dividend payout ratio is presently 39.56%.

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.