Liberty Energy Inc. (NYSE:LBRT) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lowered its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 13.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 87,917 shares of the company’s stock after selling 13,983 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Liberty Energy were worth $1,822,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. EdgeRock Capital LLC acquired a new stake in Liberty Energy during the fourth quarter worth approximately $27,000. Principal Securities Inc. purchased a new position in Liberty Energy during the fourth quarter worth approximately $39,000. Quadrant Capital Group LLC raised 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. raised its stake in 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 during the period. Finally, C M Bidwell & Associates Ltd. purchased a new position in Liberty Energy during the fourth quarter worth approximately $63,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Ryan T. Gosney sold 2,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 170,882 shares of the company’s stock, valued at $4,015,727. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Ryan T. Gosney sold 2,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 170,882 shares in the company, valued at $4,015,727. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Stock sold 4,374 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $21.01, for a total transaction of $91,897.74. Following the sale, the chief financial officer now owns 785,207 shares in the company, valued at approximately $16,497,199.07. The disclosure for this sale can be found here. In the last three months, insiders have sold 176,000 shares of company stock worth $3,932,731. 3.60% of the stock is owned by corporate insiders.

Liberty Energy Stock Performance

Shares of NYSE LBRT traded up $0.19 during midday trading on Friday, hitting $21.15. The company’s stock had a trading volume of 1,732,936 shares, compared to its average volume of 2,379,619. The firm has a market cap of $3.52 billion, a P/E ratio of 7.72, a P/E/G ratio of 1.13 and a beta of 1.74. The firm’s fifty day moving average price is $21.98 and its 200-day moving average price is $20.93. Liberty Energy Inc. has a 1-year low of $14.75 and a 1-year high of $24.75. 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 (NYSE:LBRT) last issued its quarterly earnings data on Thursday, April 18th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.06). The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. Liberty Energy had a net margin of 10.43% and a return on equity of 26.46%. The company’s revenue for the quarter 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, sell-side analysts forecast that Liberty Energy Inc. will post 2.39 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The business 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. The ex-dividend date was Thursday, June 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.32%. Liberty Energy’s dividend payout ratio (DPR) is 10.22%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LBRT shares. Citigroup raised shares of Liberty Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $24.00 to $32.00 in a research note on Wednesday, May 29th. Morgan Stanley reissued an “equal weight” rating and issued a $24.00 target price on shares of Liberty Energy in a research note on Monday, April 22nd. TD Cowen raised their target price on shares of Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Barclays raised their target price on shares of Liberty Energy from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, Wells Fargo & Company raised their target price on shares of Liberty Energy from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Liberty Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.44.

About Liberty Energy

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.