Meeder Asset Management Inc. Makes New Investment in Liberty Energy Inc. (NYSE:LBRT)

Meeder Asset Management Inc. purchased a new stake in Liberty Energy Inc. (NYSE:LBRT) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 6,046 shares of the company’s stock, valued at approximately $120,000.

A number of other institutional investors have also modified their holdings of the business. Quarry LP increased its position in Liberty Energy by 237.5% in the third quarter. Quarry LP now owns 1,991 shares of the company’s stock worth $38,000 after buying an additional 1,401 shares during the period. Blue Trust Inc. increased its holdings in shares of Liberty Energy by 604.9% in the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the company’s stock worth $47,000 after acquiring an additional 2,111 shares during the period. CIBC Private Wealth Group LLC lifted its position in Liberty Energy by 257.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,197 shares of the company’s stock valued at $47,000 after purchasing an additional 1,583 shares during the last quarter. Spire Wealth Management acquired a new position in Liberty Energy during the 4th quarter valued at about $60,000. Finally, Smartleaf Asset Management LLC grew its position in Liberty Energy by 176.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,423 shares of the company’s stock worth $67,000 after purchasing an additional 2,184 shares during the last quarter. Institutional investors own 98.22% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Michael Stock sold 10,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $17.94, for a total value of $179,400.00. Following the completion of the sale, the chief financial officer now owns 717,292 shares of the company’s stock, valued at $12,868,218.48. This trade represents a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 35,000 shares of company stock worth $710,800 over the last ninety days. 1.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

LBRT has been the subject of several analyst reports. The Goldman Sachs Group began coverage on Liberty Energy in a research report on Friday, December 13th. They set a “neutral” rating and a $19.00 price objective for the company. Citigroup increased their price target on Liberty Energy from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Seaport Res Ptn upgraded shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Sunday, January 5th. Morgan Stanley upgraded shares of Liberty Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $20.00 to $25.00 in a research report on Thursday, March 27th. Finally, TD Cowen lowered their target price on shares of Liberty Energy from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.90.

Liberty Energy Trading Down 0.0 %

Shares of NYSE:LBRT opened at $15.82 on Wednesday. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 8.46 and a beta of 1.58. Liberty Energy Inc. has a 1-year low of $13.86 and a 1-year high of $24.75. The company has a 50 day moving average price of $17.14 and a 200 day moving average price of $18.46. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.97 and a current ratio of 1.27.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Wednesday, January 29th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. On average, research analysts anticipate that Liberty Energy Inc. will post 0.58 EPS for the current fiscal year.

Liberty Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Thursday, March 6th. Liberty Energy’s dividend payout ratio is presently 17.11%.

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.