Engineers Gate Manager LP Takes $3.10 Million Position in Liberty Energy Inc. $LBRT

Engineers Gate Manager LP purchased a new stake in shares of Liberty Energy Inc. (NYSE:LBRT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 118,319 shares of the company’s stock, valued at approximately $3,099,000.

Several other institutional investors have also modified their holdings of LBRT. Dimensional Fund Advisors LP lifted its holdings in Liberty Energy by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,233,668 shares of the company’s stock valued at $265,931,000 after acquiring an additional 431,269 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Liberty Energy by 78.5% in the 3rd 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 last quarter. California State Teachers Retirement System grew its stake in shares of Liberty Energy by 2,521.1% in the 2nd quarter. California State Teachers Retirement System now owns 4,916,989 shares of the company’s stock worth $128,776,000 after purchasing an additional 4,729,397 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Liberty Energy by 901.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,431,125 shares of the company’s stock worth $127,616,000 after purchasing an additional 3,988,535 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Liberty Energy by 184.7% during the fourth quarter. Millennium Management LLC now owns 3,287,466 shares of the company’s stock valued at $60,687,000 after purchasing an additional 2,132,685 shares during the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

Liberty Energy Trading Up 0.1%

Shares of NYSE:LBRT opened at $20.98 on Monday. The firm has a fifty day moving average of $21.01 and a two-hundred day moving average of $26.44. The company has a quick ratio of 1.75, a current ratio of 1.99 and a debt-to-equity ratio of 0.74. Liberty Energy Inc. has a 12-month low of $10.68 and a 12-month high of $34.48. The firm has a market capitalization of $3.42 billion, a P/E ratio of 28.36, a price-to-earnings-growth ratio of 3.06 and a beta of 0.61.

Liberty Energy (NYSE:LBRT) last posted its quarterly 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 company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.09 billion. Liberty Energy had a return on equity of 1.14% and a net margin of 2.92%.The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period last year, the business earned $0.12 EPS. On average, equities analysts expect that Liberty Energy Inc. will post 0.33 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.36 dividend on an annualized basis and a yield of 1.7%. Liberty Energy’s payout ratio is 48.65%.

Analysts Set New Price Targets

LBRT has been the subject of several research reports. Stifel Nicolaus reduced 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. The Goldman Sachs Group set a $23.00 target price on Liberty Energy in a research report on Friday, August 7th. Wall Street Zen downgraded Liberty Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Energy in a research report on Wednesday, July 29th. Finally, Zacks Research cut Liberty Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Insiders Place Their Bets

In other Liberty Energy news, CFO Michael Stock sold 6,666 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $19.84, for a total value of $132,253.44. Following the sale, the chief financial officer owned 760,379 shares of the company’s stock, valued at $15,085,919.36. The trade was a 0.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Arjun N. Murti bought 14,053 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was bought at an average cost of $17.79 per share, with a total value of $250,002.87. Following the completion of the acquisition, the director owned 41,621 shares in the company, valued at $740,437.59. This represents a 50.98% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders sold 19,998 shares of company stock valued at $450,955. Insiders own 2.00% of the company’s stock.

About Liberty Energy

Liberty Energy Inc is an energy services company that provides specialized equipment, technology and services used in the development of onshore oil and natural gas resources. The company primarily supports exploration and production companies during the well-completion process, with an emphasis on hydraulic fracturing and related operations.

Its services and products include hydraulic fracturing, wireline services, proppant logistics, frac-related equipment, field engineering and operational support.