Clifford Capital Partners LLC Decreases Stake in Liberty Energy Inc. (NYSE:LBRT)

Clifford Capital Partners LLC decreased its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 625,608 shares of the company’s stock after selling 24,140 shares during the quarter. Liberty Energy comprises about 2.4% of Clifford Capital Partners LLC’s portfolio, making the stock its 28th biggest holding. Clifford Capital Partners LLC owned approximately 0.38% of Liberty Energy worth $11,943,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of LBRT. FMR LLC lifted its position in Liberty Energy by 17.1% during the third quarter. FMR LLC now owns 18,115,282 shares of the company’s stock worth $345,821,000 after buying an additional 2,640,119 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Liberty Energy by 15.9% in the third quarter. Pacer Advisors Inc. now owns 7,012,382 shares of the company’s stock valued at $133,866,000 after purchasing an additional 963,068 shares during the period. Canoe Financial LP increased its position in Liberty Energy by 20.4% during the third quarter. Canoe Financial LP now owns 4,124,695 shares of the company’s stock worth $79,408,000 after purchasing an additional 699,500 shares during the last quarter. Hennessy Advisors Inc. raised its stake in Liberty Energy by 48.0% during the second quarter. Hennessy Advisors Inc. now owns 1,981,100 shares of the company’s stock worth $41,385,000 after purchasing an additional 642,700 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Liberty Energy by 17.6% in the 2nd quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock valued at $82,754,000 after purchasing an additional 594,051 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Liberty Energy Trading Down 1.8 %

NYSE:LBRT opened at $18.38 on Wednesday. Liberty Energy Inc. has a 12-month low of $16.57 and a 12-month high of $24.75. The firm has a market cap of $3.00 billion, a PE ratio of 8.75 and a beta of 1.70. 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 fifty day moving average price of $18.74 and a 200 day moving average price of $20.44.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.10). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. The company’s revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 EPS. Sell-side analysts anticipate that Liberty Energy Inc. will post 1.75 earnings per share for the current fiscal year.

Liberty Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.08 per share. This is a boost from Liberty Energy’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, December 6th. This represents a $0.32 annualized dividend and a yield of 1.74%. Liberty Energy’s payout ratio is presently 13.33%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Citigroup cut Liberty Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $25.00 to $19.00 in a report on Friday, October 18th. Evercore ISI raised Liberty Energy to a “strong-buy” rating in a research note on Thursday, October 17th. Royal Bank of Canada cut their price objective on Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Wells Fargo & Company decreased their target price on shares of Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Finally, Stifel Nicolaus decreased their price objective on shares of Liberty Energy from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.89.

Insider Activity at Liberty Energy

In other news, CFO Michael Stock sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $20.01, for a total value of $300,150.00. Following the completion of the sale, the chief financial officer now directly owns 750,207 shares of the company’s stock, valued at approximately $15,011,642.07. The trade was a 1.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher A. Wright sold 2,037 shares of Liberty Energy stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $18.15, for a total value of $36,971.55. Following the transaction, the chief executive officer now directly owns 2,578,813 shares in the company, valued at approximately $46,805,455.95. This trade represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 99,037 shares of company stock valued at $1,911,802 over the last three months. 3.70% of the stock is owned by corporate 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.