Gallacher Capital Management LLC Takes Position in Liberty Energy Inc. (NYSE:LBRT)

Gallacher Capital Management LLC acquired a new position in shares of Liberty Energy Inc. (NYSE:LBRT) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 9,935 shares of the company’s stock, valued at approximately $206,000.

Other institutional investors have also recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new stake in shares of Liberty Energy in the fourth quarter valued at $27,000. Principal Securities Inc. acquired a new position in Liberty Energy in the 4th quarter valued at about $39,000. Quadrant Capital Group LLC increased its stake in Liberty Energy by 70.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock worth $53,000 after purchasing an additional 1,206 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Liberty Energy by 27.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock worth $59,000 after purchasing an additional 709 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of Liberty Energy in the fourth quarter valued at approximately $63,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LBRT shares. Wells Fargo & Company increased their target price on shares of Liberty Energy from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Morgan Stanley reiterated an “equal weight” rating and issued a $24.00 target price on shares of Liberty Energy in a report on Monday, April 22nd. Bank of America upped their price target on Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Barclays lifted their price objective on Liberty Energy from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, Citigroup upgraded shares of Liberty Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $24.00 to $32.00 in a research note on Wednesday, May 29th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $25.50.

Liberty Energy Stock Up 0.7 %

LBRT stock traded up $0.14 during midday trading on Friday, reaching $21.10. 358,227 shares of the company were exchanged, compared to its average volume of 2,670,842. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 7.65, a price-to-earnings-growth ratio of 1.08 and a beta of 1.74. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.48. Liberty Energy Inc. has a 1-year low of $14.75 and a 1-year high of $24.75. The stock’s 50-day simple moving average is $21.98 and its 200 day simple moving average is $20.90.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings results on Thursday, April 18th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.06). The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. Liberty Energy’s revenue was down 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 earnings per share. On average, equities analysts forecast that Liberty Energy Inc. will post 2.39 earnings per share for the current year.

Liberty Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.33%. The ex-dividend date was Thursday, June 6th. Liberty Energy’s dividend payout ratio (DPR) is 10.22%.

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, CAO Ryan T. Gosney sold 2,000 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $23.50, for a total transaction of $47,000.00. Following the transaction, the chief accounting officer now directly owns 170,882 shares of the company’s stock, valued at approximately $4,015,727. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Liberty Energy news, CAO Ryan T. Gosney sold 2,000 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $23.50, for a total transaction of $47,000.00. Following the completion of the sale, the chief accounting officer now directly owns 170,882 shares of the company’s stock, valued at approximately $4,015,727. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Ron Gusek sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $22.99, for a total value of $1,149,500.00. Following the completion of the transaction, the president now directly owns 1,213,259 shares in the company, valued at approximately $27,892,824.41. The disclosure for this sale can be found here. Over the last quarter, insiders sold 176,000 shares of company stock worth $3,932,731. 3.60% of the stock is owned by 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.