Liberty Energy Inc. (NYSE:LBRT) Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC lowered its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 0.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 343,924 shares of the company’s stock after selling 1,186 shares during the quarter. Peregrine Capital Management LLC’s holdings in Liberty Energy were worth $7,185,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Diversified Trust Co boosted its holdings in shares of Liberty Energy by 2.5% in the first quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock valued at $427,000 after acquiring an additional 507 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Liberty Energy by 4.0% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 14,262 shares of the company’s stock valued at $296,000 after acquiring an additional 543 shares in the last quarter. Perigon Wealth Management LLC boosted its holdings in shares of Liberty Energy by 2.4% in the first quarter. Perigon Wealth Management LLC now owns 24,815 shares of the company’s stock valued at $514,000 after acquiring an additional 571 shares in the last quarter. Andina Capital Management LLC boosted its holdings in shares of Liberty Energy by 3.9% in the second quarter. Andina Capital Management LLC now owns 18,599 shares of the company’s stock valued at $389,000 after acquiring an additional 691 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Liberty Energy by 27.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after acquiring an additional 709 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Liberty Energy Price Performance

LBRT traded down $0.14 during midday trading on Friday, reaching $20.59. 1,139,279 shares of the company’s stock were exchanged, compared to its average volume of 2,553,788. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 1.07. The stock has a market capitalization of $3.43 billion, a PE ratio of 7.51, a P/E/G ratio of 1.33 and a beta of 1.74. The business’s 50-day moving average price is $20.99 and its 200 day moving average price is $21.56. Liberty Energy Inc. has a 1-year low of $15.64 and a 1-year high of $24.75.

Liberty Energy (NYSE:LBRT) last announced its earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.87 earnings per share. As a group, equities analysts anticipate that Liberty Energy Inc. will post 2.19 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Friday, September 6th. Liberty Energy’s payout ratio is currently 10.22%.

Insiders Place Their Bets

In other news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $20.26, for a total transaction of $405,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,758,813 shares in the company, valued at $55,893,551.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $20.26, for a total value of $405,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,758,813 shares in the company, valued at $55,893,551.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Michael Stock sold 4,374 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $21.01, for a total transaction of $91,897.74. Following the sale, the chief financial officer now owns 785,207 shares of the company’s stock, valued at $16,497,199.07. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,000 shares of company stock worth $1,767,231. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on LBRT shares. Barclays lowered their target price on shares of Liberty Energy from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Bank of America reduced their price objective on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. TD Cowen reduced their price objective on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Friday, July 19th. Piper Sandler reduced their price objective on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, Citigroup upgraded shares of Liberty Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $24.00 to $32.00 in a research note on Wednesday, May 29th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $24.78.

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.