Liberty Energy Inc. $LBRT Shares Sold by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY reduced its stake in Liberty Energy Inc. (NYSE:LBRT) by 23.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,902 shares of the company’s stock after selling 22,332 shares during the quarter. Miller Howard Investments Inc. NY’s holdings in Liberty Energy were worth $2,128,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Franklin Resources Inc. boosted its position in shares of Liberty Energy by 78.5% during the 3rd quarter. Franklin Resources Inc. now owns 8,575,840 shares of the company’s stock valued at $105,826,000 after acquiring an additional 3,771,724 shares during the last quarter. Balyasny Asset Management L.P. increased its position in Liberty Energy by 1,529.2% during the third quarter. Balyasny Asset Management L.P. now owns 2,753,357 shares of the company’s stock worth $33,976,000 after purchasing an additional 2,584,359 shares during the last quarter. Millennium Management LLC raised its stake in Liberty Energy by 184.7% during the fourth quarter. Millennium Management LLC now owns 3,287,466 shares of the company’s stock worth $60,687,000 after purchasing an additional 2,132,685 shares during the period. Sourcerock Group LLC purchased a new position in Liberty Energy during the second quarter worth about $23,653,000. Finally, Eventide Asset Management LLC acquired a new position in Liberty Energy in the 4th quarter valued at about $36,394,000. 98.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LBRT has been the subject of several analyst reports. Piper Sandler increased their price target on shares of Liberty Energy from $32.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Energy in a research report on Friday, May 1st. The Goldman Sachs Group reissued a “neutral” rating and set a $31.00 target price on shares of Liberty Energy in a research note on Wednesday, June 3rd. Stifel Nicolaus lifted their target price on Liberty Energy from $28.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Finally, Morgan Stanley set a $36.00 price target on Liberty Energy in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Liberty Energy currently has a consensus rating of “Moderate Buy” and an average target price of $32.18.

Liberty Energy Stock Performance

Shares of LBRT stock opened at $26.21 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.97 and a current ratio of 2.21. The firm has a market cap of $4.28 billion, a P/E ratio of 28.81, a P/E/G ratio of 2.31 and a beta of 0.51. The firm’s 50 day moving average price is $30.34 and its 200-day moving average price is $26.36. Liberty Energy Inc. has a one year low of $9.90 and a one year high of $34.48.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.19. Liberty Energy had a return on equity of 1.41% and a net margin of 3.71%.The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $954.71 million. During the same period in the prior year, the firm earned $0.04 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts predict that Liberty Energy Inc. will post 0.25 EPS for the current year.

Liberty Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, June 4th. Liberty Energy’s dividend payout ratio is currently 39.56%.

Insider Activity

In related news, Chairman William F. Kimble sold 7,350 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $33.92, for a total transaction of $249,312.00. Following the sale, the chairman directly owned 89,805 shares of the company’s stock, valued at $3,046,185.60. This represents a 7.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Stock sold 3,333 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $31.00, for a total transaction of $103,323.00. Following the sale, the chief financial officer owned 783,710 shares in the company, valued at approximately $24,295,010. This trade represents a 0.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 44,013 shares of company stock worth $1,414,929 in the last three months. Corporate insiders own 2.00% of the company’s stock.

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. As of as of December 31, 2023, the company owned and operated a fleet of approximately 40 active hydraulic fracturing; and two sand mines in the Permian Basin.