CIBC Asset Management Inc Takes Position in Liberty Energy Inc. (NYSE:LBRT)

CIBC Asset Management Inc purchased a new stake in Liberty Energy Inc. (NYSE:LBRT) in the fourth quarter, Holdings Channel reports. The firm purchased 10,075 shares of the company’s stock, valued at approximately $200,000.

A number of other institutional investors have also made changes to their positions in LBRT. Covestor Ltd increased its holdings in shares of Liberty Energy by 96.8% in the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company’s stock valued at $33,000 after acquiring an additional 838 shares during the last quarter. Quarry LP increased its holdings in shares of Liberty Energy by 237.5% in the 3rd quarter. Quarry LP now owns 1,991 shares of the company’s stock valued at $38,000 after acquiring an additional 1,401 shares during the last quarter. 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 valued at $47,000 after acquiring an additional 2,111 shares during the last quarter. Spire Wealth Management bought a new stake in shares of Liberty Energy in the 4th quarter valued at approximately $60,000. Finally, US Bancorp DE increased its holdings in shares of Liberty Energy by 93.2% in the 3rd quarter. US Bancorp DE now owns 4,180 shares of the company’s stock valued at $80,000 after acquiring an additional 2,016 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada lowered their price target on Liberty Energy from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, January 31st. TD Cowen lowered their price objective on Liberty Energy from $18.00 to $16.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Seaport Res Ptn upgraded Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Sunday, January 5th. Citigroup upped their price objective on Liberty Energy from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company lowered their price objective on Liberty Energy from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.30.

Insider Activity

In other news, CEO Christopher A. Wright sold 2,936 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $19.16, for a total transaction of $56,253.76. Following the sale, the chief executive officer now directly owns 2,543,877 shares of the company’s stock, valued at $48,740,683.32. The trade was a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Stock sold 5,000 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $19.51, for a total value of $97,550.00. Following the sale, the chief financial officer now directly owns 700,207 shares in the company, valued at $13,661,038.57. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,936 shares of company stock worth $1,341,184 over the last 90 days. 3.70% of the stock is currently owned by company insiders.

Liberty Energy Trading Down 1.3 %

Shares of LBRT stock opened at $17.23 on Thursday. 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 Inc. has a 1 year low of $16.57 and a 1 year high of $24.75. The stock has a fifty day moving average of $19.55 and a two-hundred day moving average of $19.24. The firm has a market capitalization of $2.79 billion, a PE ratio of 9.21 and a beta of 1.63.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Wednesday, January 29th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.06). Liberty Energy had a net margin of 7.32% and a return on equity of 14.28%. As a group, research analysts expect that Liberty Energy Inc. will post 0.58 EPS for the current year.

Liberty Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be issued a $0.08 dividend. The ex-dividend date is Thursday, March 6th. This represents a $0.32 annualized dividend and a dividend yield of 1.86%. Liberty Energy’s dividend payout ratio (DPR) is 17.11%.

Liberty Energy 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.