Angeles Wealth Management LLC Buys New Position in Liberty Energy Inc. $LBRT

Angeles Wealth Management LLC bought a new stake in shares of Liberty Energy Inc. (NYSE:LBRT) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 46,860 shares of the company’s stock, valued at approximately $1,350,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Root Financial Partners LLC lifted its holdings in shares of Liberty Energy by 79.6% during the 1st quarter. Root Financial Partners LLC now owns 914 shares of the company’s stock worth $26,000 after acquiring an additional 405 shares during the last quarter. Maryland State Retirement & Pension System increased its stake in Liberty Energy by 2.0% in the fourth quarter. Maryland State Retirement & Pension System now owns 23,760 shares of the company’s stock valued at $439,000 after acquiring an additional 477 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Liberty Energy by 2.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 22,583 shares of the company’s stock valued at $417,000 after acquiring an additional 500 shares during the last quarter. First Horizon Corp raised its position in Liberty Energy by 58.2% during the fourth quarter. First Horizon Corp now owns 1,620 shares of the company’s stock valued at $30,000 after purchasing an additional 596 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in Liberty Energy by 1.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 37,085 shares of the company’s stock valued at $685,000 after purchasing an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Barclays lifted their price target on Liberty Energy from $29.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. UBS Group restated a “buy” rating on shares of Liberty Energy in a research report on Friday, June 26th. Stifel Nicolaus upped their target price on Liberty Energy from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Zacks Research upgraded shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 22nd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $31.00 price target 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 assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.09.

Insider Activity at Liberty Energy

In related news, CFO Michael Stock sold 9,999 shares of Liberty Energy stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $25.89, for a total value of $258,874.11. Following the transaction, the chief financial officer directly owned 773,711 shares of the company’s stock, valued at $20,031,377.79. The trade was a 1.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman William F. Kimble sold 7,350 shares of Liberty Energy 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 directly owned 89,805 shares in the company, valued at approximately $3,046,185.60. The trade was a 7.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 54,012 shares of company stock valued at $1,673,803 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Liberty Energy Stock Down 6.8%

LBRT opened at $23.42 on Friday. The company has a market cap of $3.82 billion, a P/E ratio of 25.73, a P/E/G ratio of 1.91 and a beta of 0.54. The business’s 50-day moving average price is $28.49 and its 200-day moving average price is $27.04. The company has a current ratio of 2.21, a quick ratio of 1.97 and a debt-to-equity ratio of 0.75. Liberty Energy Inc. has a 12 month low of $9.90 and a 12 month high of $34.48.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Wednesday, April 22nd. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.19. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $954.71 million. Liberty Energy had a return on equity of 1.41% and a net margin of 3.71%.Liberty Energy’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.04 EPS. On average, equities analysts expect that Liberty Energy Inc. will post 0.28 EPS for the current year.

Liberty Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be given a $0.09 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.36 annualized dividend and a yield of 1.5%. Liberty Energy’s 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.