Liberty Energy Inc. (NYSE:LBRT) Holdings Increased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in shares of Liberty Energy Inc. (NYSE:LBRTFree Report) by 4,473.9% during the third quarter, Holdings Channel reports. The institutional investor owned 836,470 shares of the company’s stock after acquiring an additional 818,182 shares during the period. Principal Financial Group Inc.’s holdings in Liberty Energy were worth $15,491,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC raised its position in shares of Liberty Energy by 172.0% during the 2nd quarter. CWM LLC now owns 1,983 shares of the company’s stock worth $27,000 after buying an additional 1,254 shares in the last quarter. Quarry LP raised its position in shares of Liberty Energy by 111.0% during the 2nd quarter. Quarry LP now owns 3,965 shares of the company’s stock worth $53,000 after buying an additional 2,086 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Liberty Energy by 8,240.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,087 shares of the company’s stock worth $55,000 after buying an additional 4,038 shares in the last quarter. Tucker Asset Management LLC bought a new stake in shares of Liberty Energy during the 2nd quarter worth about $98,000. Finally, Rockefeller Capital Management L.P. acquired a new position in shares of Liberty Energy in the 2nd quarter worth approximately $125,000. 91.34% of the stock is currently owned by institutional investors.

Liberty Energy Stock Performance

Shares of LBRT opened at $21.56 on Wednesday. The company’s 50 day moving average price is $18.47 and its 200 day moving average price is $18.01. Liberty Energy Inc. has a 52 week low of $11.18 and a 52 week high of $21.72. The company has a market capitalization of $3.64 billion, a PE ratio of 6.82, a PEG ratio of 0.86 and a beta of 1.89. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.17 and a current ratio of 1.49.

Liberty Energy (NYSE:LBRTGet Free Report) last posted its earnings results on Wednesday, January 24th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.08 billion. Liberty Energy had a net margin of 11.72% and a return on equity of 32.28%. Liberty Energy’s revenue was down 12.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 earnings per share. Research analysts expect that Liberty Energy Inc. will post 2.92 EPS for the current fiscal year.

Liberty Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Tuesday, March 5th. Liberty Energy’s dividend payout ratio (DPR) is presently 8.86%.

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, CEO Christopher A. Wright sold 2,100 shares of Liberty Energy stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $19.04, for a total value of $39,984.00. Following the completion of the sale, the chief executive officer now directly owns 2,839,760 shares in the company, valued at $54,069,030.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Christopher A. Wright sold 2,100 shares of the business’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $19.04, for a total value of $39,984.00. Following the completion of the sale, the chief executive officer now directly owns 2,839,760 shares in the company, valued at $54,069,030.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher A. Wright sold 25,126 shares of the business’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $19.31, for a total transaction of $485,183.06. Following the completion of the sale, the chief executive officer now owns 2,864,271 shares of the company’s stock, valued at $55,309,073.01. The disclosure for this sale can be found here. Insiders sold 64,907 shares of company stock worth $1,283,457 over the last ninety days. 3.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LBRT shares. Royal Bank of Canada lifted their price objective on shares of Liberty Energy from $20.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, October 20th. The Goldman Sachs Group lifted their price objective on shares of Liberty Energy from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, October 23rd. Wells Fargo & Company lowered their price objective on shares of Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, December 21st. Piper Sandler lifted their price objective on shares of Liberty Energy from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Finally, Citigroup dropped their target price on shares of Liberty Energy from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, December 14th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Liberty Energy has a consensus rating of “Moderate Buy” and a consensus price target of $23.75.

Get Our Latest Report on Liberty Energy

About Liberty Energy

(Free Report)

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, data analytics, related goods, and technologies; and other services comprising design and pump diagnostic fracture injection test, DFIT and mini-frac analysis, and laboratory services, such as fluid rheology, surfactant, clay control, scaling and biocide testing.

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Institutional Ownership by Quarter for Liberty Energy (NYSE:LBRT)

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