Entropy Technologies LP Decreases Stock Holdings in Liberty Energy Inc. (NYSE:LBRT)

Entropy Technologies LP lowered its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 51.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,531 shares of the company’s stock after selling 40,269 shares during the quarter. Entropy Technologies LP’s holdings in Liberty Energy were worth $746,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC lifted its holdings in shares of Liberty Energy by 45.1% in the 3rd quarter. Empowered Funds LLC now owns 495,578 shares of the company’s stock valued at $9,461,000 after acquiring an additional 154,070 shares during the last quarter. JPMorgan Chase & Co. raised its position in Liberty Energy by 61.2% during the third quarter. JPMorgan Chase & Co. now owns 3,146,179 shares of the company’s stock valued at $60,061,000 after purchasing an additional 1,193,918 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Liberty Energy by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 872,215 shares of the company’s stock valued at $16,651,000 after purchasing an additional 37,927 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Liberty Energy by 168.2% in the 3rd quarter. Quest Partners LLC now owns 62,979 shares of the company’s stock worth $1,202,000 after purchasing an additional 39,497 shares during the period. Finally, Impala Asset Management LLC increased its position in shares of Liberty Energy by 89.2% during the 3rd quarter. Impala Asset Management LLC now owns 350,000 shares of the company’s stock valued at $6,682,000 after purchasing an additional 165,000 shares during the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.

Liberty Energy Stock Up 2.6 %

Shares of NYSE:LBRT opened at $17.75 on Wednesday. The business’s 50 day moving average is $19.71 and its 200 day moving average is $19.53. The stock has a market cap of $2.90 billion, a P/E ratio of 9.49 and a beta of 1.63. Liberty Energy Inc. has a 52-week low of $16.57 and a 52-week high of $24.75. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 0.10.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.10 earnings per share (EPS) 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 0.62 EPS for the current year.

Liberty Energy Announces Dividend

The firm also recently declared 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 of this dividend is Thursday, March 6th. This represents a $0.32 annualized dividend and a dividend yield of 1.80%. Liberty Energy’s dividend payout ratio is currently 17.11%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Seaport Res Ptn upgraded Liberty Energy from a “hold” rating to a “strong-buy” rating in a research report on Sunday, January 5th. TD Cowen lowered their target price 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. Royal Bank of Canada cut their price target on shares of Liberty Energy from $26.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. The Goldman Sachs Group initiated coverage on shares of Liberty Energy in a research report on Friday, December 13th. They issued a “neutral” rating and a $19.00 price objective on the stock. Finally, Citigroup boosted their target price on Liberty Energy from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $22.30.

Insider Transactions at Liberty Energy

In other Liberty Energy news, CFO Michael Stock sold 5,000 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $19.51, for a total value of $97,550.00. Following the completion of the transaction, the chief financial officer now directly owns 700,207 shares in the company, valued at approximately $13,661,038.57. The trade was a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher A. Wright sold 16,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $18.23, for a total transaction of $291,680.00. Following the sale, the chief executive officer now directly owns 2,562,813 shares of the company’s stock, valued at approximately $46,720,080.99. The trade was a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,936 shares of company stock valued at $1,341,184. Company insiders own 3.60% of the company’s stock.

Liberty Energy Company 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.