New York State Common Retirement Fund Has $4.67 Million Position in Liberty Energy Inc. (NYSE:LBRT)

New York State Common Retirement Fund boosted its holdings in Liberty Energy Inc. (NYSE:LBRT) by 369.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 234,904 shares of the company’s stock after acquiring an additional 184,918 shares during the period. New York State Common Retirement Fund owned 0.14% of Liberty Energy worth $4,672,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Covestor Ltd raised its position in shares of Liberty Energy by 96.8% in the third quarter. Covestor Ltd now owns 1,704 shares of the company’s stock valued at $33,000 after purchasing an additional 838 shares during the period. Quarry LP raised its holdings in 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 period. Blue Trust Inc. lifted its position in Liberty Energy by 604.9% during the fourth 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 last quarter. Spire Wealth Management bought a new stake in shares of Liberty Energy during the fourth quarter worth approximately $60,000. Finally, US Bancorp DE boosted its holdings in shares of Liberty Energy by 93.2% during the third quarter. US Bancorp DE now owns 4,180 shares of the company’s stock worth $80,000 after acquiring an additional 2,016 shares during the period. Institutional investors and hedge funds own 98.22% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on LBRT shares. TD Cowen dropped their price target on Liberty Energy from $18.00 to $16.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada dropped their target price on Liberty Energy from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, January 31st. The Goldman Sachs Group started coverage on shares of Liberty Energy in a research note on Friday, December 13th. They issued a “neutral” rating and a $19.00 price target on the stock. Wells Fargo & Company dropped their price objective on shares of Liberty Energy from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Atb Cap Markets upgraded shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.30.

Liberty Energy Price Performance

LBRT opened at $17.37 on Friday. Liberty Energy Inc. has a 1 year low of $16.57 and a 1 year high of $24.75. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.27 and a quick ratio of 0.97. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 9.29 and a beta of 1.63. The firm’s fifty day moving average price is $19.55 and its two-hundred day moving average price is $19.24.

Liberty Energy (NYSE:LBRT) last released its earnings results on Wednesday, January 29th. The company reported $0.10 earnings per share (EPS) 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, analysts anticipate that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, March 6th. This represents a $0.32 dividend on an annualized basis and a yield of 1.84%. Liberty Energy’s dividend payout ratio (DPR) is 17.11%.

Insider Buying and Selling

In other news, CFO Michael Stock sold 10,000 shares of Liberty Energy stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $17.94, for a total transaction of $179,400.00. Following the completion of the sale, the chief financial officer now owns 717,292 shares in the company, valued at approximately $12,868,218.48. This trade represents a 1.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher A. Wright sold 2,936 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 2,543,877 shares in the company, valued at approximately $48,740,683.32. This trade represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,936 shares of company stock valued at $1,341,184. Corporate insiders own 3.70% of the company’s stock.

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.