Wesbanco Bank Inc. Takes $1.07 Million Position in Liberty Energy Inc. (NYSE:LBRT)

Wesbanco Bank Inc. bought a new position in Liberty Energy Inc. (NYSE:LBRT) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 56,100 shares of the company’s stock, valued at approximately $1,071,000.

Other institutional investors have also recently bought and sold shares of the company. EdgeRock Capital LLC bought a new stake in shares of Liberty Energy in the 2nd quarter valued at approximately $32,000. GAMMA Investing LLC lifted its position in shares of Liberty Energy by 69.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock worth $36,000 after buying an additional 713 shares during the period. PNC Financial Services Group Inc. boosted its stake in Liberty Energy by 27.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after buying an additional 709 shares in the last quarter. nVerses Capital LLC grew its position in Liberty Energy by 45.0% in the second quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock valued at $61,000 after acquiring an additional 900 shares during the period. Finally, CWM LLC raised its stake in Liberty Energy by 43.3% during the second quarter. CWM LLC now owns 6,213 shares of the company’s stock worth $130,000 after acquiring an additional 1,876 shares in the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

Analyst Ratings Changes

LBRT has been the subject of several analyst reports. Barclays cut their price target on shares of Liberty Energy from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. Stifel Nicolaus cut their target price on shares of Liberty Energy from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, October 11th. TD Cowen decreased their price target on Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday, July 19th. Citigroup cut their price objective on Liberty Energy from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Finally, Piper Sandler decreased their target price on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.20.

Liberty Energy Stock Down 3.0 %

NYSE LBRT opened at $19.80 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35. Liberty Energy Inc. has a 52 week low of $16.69 and a 52 week high of $24.75. The stock has a market capitalization of $3.30 billion, a P/E ratio of 7.23, a price-to-earnings-growth ratio of 1.20 and a beta of 1.68. The stock has a fifty day moving average of $20.13 and a 200-day moving average of $21.38.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company earned $0.87 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. On average, equities research analysts forecast that Liberty Energy Inc. will post 2.14 EPS for the current year.

Insider Activity

In other news, CFO Michael Stock sold 15,000 shares of Liberty Energy stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $19.23, for a total transaction of $288,450.00. Following the completion of the sale, the chief financial officer now owns 730,207 shares in the company, valued at $14,041,880.61. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Michael Stock sold 15,000 shares of Liberty Energy stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $19.23, for a total transaction of $288,450.00. Following the completion of the sale, the chief financial officer now directly owns 730,207 shares of the company’s stock, valued at $14,041,880.61. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $19.77, for a total value of $395,400.00. Following the completion of the sale, the chief executive officer now owns 2,638,813 shares of the company’s stock, valued at $52,169,333.01. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,000 shares of company stock valued at $1,945,650. 3.60% of the stock is currently owned by insiders.

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.