Canoe Financial LP Sells 1,676,127 Shares of Liberty Energy Inc. (NYSE:LBRT)

Canoe Financial LP reduced its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 40.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,448,568 shares of the company’s stock after selling 1,676,127 shares during the quarter. Canoe Financial LP owned 1.50% of Liberty Energy worth $48,702,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in LBRT. Covestor Ltd increased its stake in shares of Liberty Energy by 96.8% during the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company’s stock worth $33,000 after purchasing an additional 838 shares during the last quarter. Quarry LP grew its holdings in Liberty Energy by 237.5% during the third quarter. Quarry LP now owns 1,991 shares of the company’s stock worth $38,000 after purchasing an additional 1,401 shares during the period. GAMMA Investing LLC increased its position in Liberty Energy by 82.1% during the third quarter. GAMMA Investing LLC now owns 3,174 shares of the company’s stock worth $61,000 after buying an additional 1,431 shares during the last quarter. US Bancorp DE raised its stake in Liberty Energy by 93.2% in the third quarter. US Bancorp DE now owns 4,180 shares of the company’s stock valued at $80,000 after buying an additional 2,016 shares during the period. Finally, KBC Group NV lifted its position in shares of Liberty Energy by 24.8% in the third quarter. KBC Group NV now owns 4,906 shares of the company’s stock valued at $94,000 after buying an additional 974 shares during the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

Liberty Energy Stock Down 2.0 %

Shares of LBRT opened at $22.67 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $3.70 billion, a PE ratio of 10.79 and a beta of 1.66. The firm’s 50 day moving average is $19.18 and its 200-day moving average is $19.74. Liberty Energy Inc. has a 12 month low of $16.57 and a 12 month high of $24.75.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data 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 company had revenue of $1.14 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 earnings per share. Equities research analysts forecast that Liberty Energy Inc. will post 1.66 EPS for the current year.

Insider Buying and Selling

In other Liberty Energy news, CEO Christopher A. Wright sold 2,936 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $19.16, for a total transaction of $56,253.76. Following the completion of the transaction, the chief executive officer now directly owns 2,543,877 shares in the company, valued at $48,740,683.32. The trade was a 0.12 % 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, CFO Michael Stock sold 5,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $17.21, for a total value of $86,050.00. Following the completion of the sale, the chief financial officer now directly owns 725,207 shares in the company, valued at approximately $12,480,812.47. This represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,973 shares of company stock worth $1,586,335. Company insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

LBRT has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their target price on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Royal Bank of Canada decreased their price objective on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Atb Cap Markets upgraded shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Evercore ISI upgraded shares of Liberty Energy to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Stifel Nicolaus cut their price objective on shares of Liberty Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Liberty Energy currently has an average rating of “Moderate Buy” and an average price target of $22.20.

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.