Harbour Capital Advisors LLC Takes Position in Liberty Energy Inc. (NYSE:LBRT)

Harbour Capital Advisors LLC acquired a new position in Liberty Energy Inc. (NYSE:LBRT) during the 4th quarter, HoldingsChannel reports. The fund acquired 23,835 shares of the company’s stock, valued at approximately $498,000.

A number of other institutional investors and hedge funds have also bought and sold shares of LBRT. Choreo LLC bought a new stake in shares of Liberty Energy in the 2nd quarter valued at about $481,000. Texas Permanent School Fund Corp boosted its holdings in Liberty Energy by 10.2% in the second quarter. Texas Permanent School Fund Corp now owns 146,261 shares of the company’s stock valued at $3,055,000 after acquiring an additional 13,512 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Liberty Energy by 9.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 493,417 shares of the company’s stock valued at $10,307,000 after purchasing an additional 41,154 shares during the period. Mutual of America Capital Management LLC raised its holdings in Liberty Energy by 184.7% during the 2nd quarter. Mutual of America Capital Management LLC now owns 366,689 shares of the company’s stock worth $7,660,000 after purchasing an additional 237,873 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of Liberty Energy by 13.3% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 29,002 shares of the company’s stock worth $606,000 after purchasing an additional 3,408 shares during the period. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Liberty Energy

In other news, CEO Christopher A. Wright sold 2,037 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $18.15, for a total value of $36,971.55. Following the completion of the sale, the chief executive officer now owns 2,578,813 shares in the company, valued at $46,805,455.95. This represents a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael Stock sold 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $17.21, for a total transaction of $86,050.00. Following the transaction, the chief financial officer now owns 725,207 shares in the company, valued at approximately $12,480,812.47. This trade represents a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 77,973 shares of company stock valued at $1,471,335 over the last 90 days. Insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

LBRT has been the subject of several recent analyst reports. Citigroup increased their price objective on shares of Liberty Energy from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. TD Cowen lowered their price objective on Liberty Energy from $18.00 to $16.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Stifel Nicolaus cut their target price on Liberty Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company decreased their target price on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Finally, Seaport Res Ptn raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Sunday, January 5th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.20.

Liberty Energy Stock Performance

LBRT opened at $21.13 on Tuesday. Liberty Energy Inc. has a 1-year low of $16.57 and a 1-year high of $24.75. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 10.06 and a beta of 1.66. The company’s fifty day moving average price is $18.74 and its two-hundred day moving average price is $19.67. The company has a current ratio of 1.23, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.10). The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. Liberty Energy’s revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS. On average, analysts expect that Liberty Energy Inc. will post 1.72 EPS for the current fiscal year.

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.