Hennessy Advisors Inc. Has $9.59 Million Stake in Liberty Energy Inc. (NYSE:LBRT)

Hennessy Advisors Inc. decreased its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 78.6% in the fourth quarter, Holdings Channel reports. The fund owned 482,000 shares of the company’s stock after selling 1,774,400 shares during the period. Hennessy Advisors Inc.’s holdings in Liberty Energy were worth $9,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of LBRT. Covestor Ltd increased its holdings in shares of Liberty Energy by 96.8% during the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company’s stock worth $33,000 after purchasing an additional 838 shares during the period. Quarry LP increased its holdings in shares of Liberty Energy by 237.5% during the 3rd quarter. Quarry LP now owns 1,991 shares of the company’s stock worth $38,000 after purchasing an additional 1,401 shares during the period. GAMMA Investing LLC increased its holdings in shares of Liberty Energy by 82.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,174 shares of the company’s stock worth $61,000 after purchasing an additional 1,431 shares during the period. US Bancorp DE increased its holdings in shares of Liberty Energy by 93.2% during the 3rd quarter. US Bancorp DE now owns 4,180 shares of the company’s stock worth $80,000 after purchasing an additional 2,016 shares during the period. Finally, KBC Group NV increased its holdings in shares of Liberty Energy by 24.8% during the 3rd quarter. KBC Group NV now owns 4,906 shares of the company’s stock worth $94,000 after purchasing an additional 974 shares during the period. Institutional investors and hedge funds own 98.22% of the company’s stock.

Insider Transactions at Liberty Energy

In other news, CFO Michael Stock sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $17.21, for a total transaction of $86,050.00. Following the transaction, the chief financial officer now directly owns 725,207 shares in the company, valued at approximately $12,480,812.47. This represents a 0.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher A. Wright sold 2,037 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $18.15, for a total transaction of $36,971.55. Following the transaction, the chief executive officer now owns 2,578,813 shares in the company, valued at $46,805,455.95. The trade was a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,973 shares of company stock worth $1,586,335. Corporate insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Evercore ISI raised shares of Liberty Energy to a “strong-buy” rating in a research note on Thursday, October 17th. Wells Fargo & Company lowered their target price on shares of Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Seaport Res Ptn raised shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Sunday, January 5th. Finally, Atb Cap Markets raised shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Five research 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.20.

Liberty Energy Price Performance

Shares of Liberty Energy stock opened at $23.13 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 11.01 and a beta of 1.66. Liberty Energy Inc. has a 1-year low of $16.57 and a 1-year high of $24.75. The firm’s 50-day moving average price is $19.08 and its two-hundred day moving average price is $19.72.

Liberty Energy (NYSE:LBRT) last announced its earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. Liberty Energy’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, equities analysts predict that Liberty Energy Inc. will post 1.66 earnings per share for the current fiscal year.

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.