Liberty Energy Inc. $LBRT Shares Bought by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. lifted its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 982.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 189,395 shares of the company’s stock after buying an additional 171,895 shares during the period. Pekin Hardy Strauss Inc. owned about 0.12% of Liberty Energy worth $3,451,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of LBRT. Arlington Capital Management INC raised its stake in Liberty Energy by 1.8% in the 3rd quarter. Arlington Capital Management INC now owns 148,500 shares of the company’s stock valued at $2,706,000 after purchasing an additional 2,592 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Liberty Energy by 43.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 50,769 shares of the company’s stock worth $925,000 after buying an additional 15,258 shares in the last quarter. State of Wyoming raised its position in shares of Liberty Energy by 368.2% in the third quarter. State of Wyoming now owns 20,363 shares of the company’s stock valued at $371,000 after buying an additional 16,014 shares during the last quarter. Choreo LLC raised its position in shares of Liberty Energy by 25.4% in the third quarter. Choreo LLC now owns 29,159 shares of the company’s stock valued at $531,000 after buying an additional 5,908 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. raised its position in shares of Liberty Energy by 36.8% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 2,862 shares of the company’s stock valued at $52,000 after buying an additional 770 shares during the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Liberty Energy news, CFO Michael Stock sold 3,333 shares of Liberty Energy stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $16.74, for a total transaction of $55,794.42. Following the sale, the chief financial officer owned 750,380 shares of the company’s stock, valued at $12,561,361.20. The trade was a 0.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ron Gusek acquired 25,000 shares of Liberty Energy stock in a transaction that occurred on Tuesday, November 3rd. The stock was bought at an average cost of $15.09 per share, with a total value of $377,250.00. Following the acquisition, the chief executive officer directly owned 1,068,702 shares of the company’s stock, valued at approximately $16,126,713.18. This trade represents a 2.40% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 42,500 shares of company stock worth $645,550 and have sold 16,665 shares worth $315,268. 2.00% of the stock is owned by company insiders.

Liberty Energy Stock Performance

Shares of LBRT stock opened at $11.29 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.30 and a quick ratio of 1.09. The company’s fifty day moving average price is $18.27 and its two-hundred day moving average price is $24.47. The firm has a market capitalization of $1.84 billion, a P/E ratio of 50.58, a P/E/G ratio of 3.06 and a beta of 0.72. Liberty Energy Inc. has a 12 month low of $11.24 and a 12 month high of $34.48.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings data on Wednesday, October 21st. The company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. Liberty Energy had a net margin of 0.91% and a return on equity of 2.13%. The firm’s revenue was up 26.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.06) EPS. On average, research analysts anticipate that Liberty Energy Inc. will post 0.21 earnings per share for the current fiscal year.

Liberty Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a $0.10 dividend. The ex-dividend date is Friday, December 4th. This is an increase from Liberty Energy’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 3.5%. Liberty Energy’s dividend payout ratio (DPR) is 150.00%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LBRT. Scotiabank started coverage on Liberty Energy in a research report on Tuesday, September 29th. They set a “sector perform” rating and a $19.00 target price on the stock. Stifel Nicolaus lowered their price target on Liberty Energy from $37.00 to $36.00 and set a “buy” rating for the company in a report on Friday, July 24th. Royal Bank Of Canada decreased their target price on shares of Liberty Energy from $34.00 to $29.00 and set a “sector perform” rating on the stock in a research report on Friday, July 24th. Zacks Research cut shares of Liberty Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Finally, UBS Group lowered their target price on shares of Liberty Energy from $31.00 to $27.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.42.

Liberty Energy Profile

Liberty Energy Inc is an oilfield services company that provides completion and production services to exploration and production companies. Its primary business is hydraulic fracturing, a well-stimulation technique used to improve the flow of oil and natural gas from unconventional reservoirs.

The company also offers wireline services, well diagnostics, frac data analysis, engineering support, and related technologies designed to help customers plan, execute, and evaluate well-completion operations.