Corebridge Financial Inc. Sells 8,354 Shares of Liberty Energy Inc. (NYSE:LBRT)

Corebridge Financial Inc. trimmed its holdings in Liberty Energy Inc. (NYSE:LBRT) by 9.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,476 shares of the company’s stock after selling 8,354 shares during the period. Corebridge Financial Inc.’s holdings in Liberty Energy were worth $1,680,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. State Street Corp lifted its stake in shares of Liberty Energy by 2.7% in the 3rd quarter. State Street Corp now owns 6,662,830 shares of the company’s stock valued at $127,193,000 after purchasing an additional 176,887 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Liberty Energy by 10.8% in the fourth quarter. American Century Companies Inc. now owns 5,178,089 shares of the company’s stock worth $102,992,000 after buying an additional 505,634 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Liberty Energy by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,779,906 shares of the company’s stock worth $72,173,000 after acquiring an additional 207,527 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Liberty Energy by 61.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,146,179 shares of the company’s stock valued at $60,061,000 after acquiring an additional 1,193,918 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Liberty Energy by 2.4% during the 3rd quarter. Franklin Resources Inc. now owns 2,631,360 shares of the company’s stock valued at $53,706,000 after acquiring an additional 61,909 shares during the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LBRT shares. Seaport Res Ptn raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a research report on Sunday, January 5th. Royal Bank of Canada lowered shares of Liberty Energy from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $24.00 to $19.00 in a research note on Monday, March 24th. TD Cowen decreased their price target on shares of Liberty Energy from $18.00 to $16.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. The Goldman Sachs Group assumed coverage on Liberty Energy in a research note on Friday, December 13th. They issued a “neutral” rating and a $19.00 price objective on the stock. Finally, Wells Fargo & Company lowered their target price on Liberty Energy from $24.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Liberty Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.90.

Insiders Place Their Bets

In related news, CFO Michael Stock sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $23.00, for a total transaction of $115,000.00. Following the completion of the transaction, the chief financial officer now owns 675,207 shares in the company, valued at $15,529,761. This trade represents a 0.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Liberty Energy Price Performance

Shares of NYSE:LBRT opened at $16.09 on Thursday. The firm has a market capitalization of $2.61 billion, a PE ratio of 8.60 and a beta of 1.58. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 0.20. Liberty Energy Inc. has a 1-year low of $13.86 and a 1-year high of $24.75. The business’s 50 day moving average is $16.88 and its 200-day moving average is $18.42.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.10 earnings per share 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%. Sell-side analysts predict that Liberty Energy Inc. will post 0.58 earnings per share for the current year.

Liberty Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, March 6th. Liberty Energy’s dividend payout ratio (DPR) is presently 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.