Liberty Energy Inc. (NYSE:LBRT) Stock Holdings Increased by Hennessy Advisors Inc.

Hennessy Advisors Inc. boosted its position in Liberty Energy Inc. (NYSE:LBRT) by 14.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,338,400 shares of the company’s stock after buying an additional 165,400 shares during the quarter. Liberty Energy makes up about 1.2% of Hennessy Advisors Inc.’s investment portfolio, making the stock its 23rd biggest holding. Hennessy Advisors Inc. owned approximately 0.80% of Liberty Energy worth $27,732,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EdgeRock Capital LLC acquired a new position in Liberty Energy in the fourth quarter valued at approximately $27,000. Principal Securities Inc. acquired a new position in Liberty Energy in the fourth quarter valued at approximately $39,000. Quadrant Capital Group LLC boosted its stake in Liberty Energy by 70.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock valued at $53,000 after acquiring an additional 1,206 shares during the period. PNC Financial Services Group Inc. boosted its stake in 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 during the period. Finally, C M Bidwell & Associates Ltd. acquired a new position in Liberty Energy in the fourth quarter valued at approximately $63,000. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Liberty Energy Price Performance

LBRT traded up $0.39 during trading on Friday, reaching $20.69. The stock had a trading volume of 1,912,430 shares, compared to its average volume of 2,711,649. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 7.41, a price-to-earnings-growth ratio of 1.03 and a beta of 1.82. The company has a quick ratio of 1.16, a current ratio of 1.48 and a debt-to-equity ratio of 0.17. Liberty Energy Inc. has a 1-year low of $13.11 and a 1-year high of $24.75. The stock has a 50 day moving average of $22.36 and a two-hundred day moving average of $20.74.

Liberty Energy (NYSE:LBRT) last released its earnings results on Thursday, April 18th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The business’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter last year, the company earned $0.90 earnings per share. As a group, equities analysts anticipate that Liberty Energy Inc. will post 2.52 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were issued a $0.07 dividend. The ex-dividend date was Thursday, June 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.35%. Liberty Energy’s dividend payout ratio is currently 10.22%.

Insider Buying and Selling at Liberty Energy

In other Liberty Energy news, CFO Michael Stock sold 20,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $24.32, for a total value of $486,400.00. Following the transaction, the chief financial officer now owns 805,207 shares of the company’s stock, valued at $19,582,634.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Liberty Energy news, President Ron Gusek sold 50,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $22.99, for a total transaction of $1,149,500.00. Following the sale, the president now directly owns 1,213,259 shares of the company’s stock, valued at approximately $27,892,824.41. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael Stock sold 20,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $24.32, for a total transaction of $486,400.00. Following the sale, the chief financial officer now directly owns 805,207 shares in the company, valued at $19,582,634.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 176,000 shares of company stock valued at $3,980,900. Corporate insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on LBRT. Citigroup upgraded Liberty Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $24.00 to $32.00 in a research note on Wednesday, May 29th. TD Cowen boosted their price objective on Liberty Energy from $19.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Royal Bank of Canada boosted their price objective on Liberty Energy from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Morgan Stanley reiterated an “equal weight” rating and set a $24.00 price objective on shares of Liberty Energy in a research report on Monday, April 22nd. Finally, Bank of America boosted their price objective on Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.50.

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.