Glenmede Trust Co. NA Sells 10,948 Shares of Liberty Energy Inc. (NYSE:LBRT)

Glenmede Trust Co. NA lowered its stake in shares of Liberty Energy Inc. (NYSE:LBRT) by 1.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 868,169 shares of the company’s stock after selling 10,948 shares during the quarter. Glenmede Trust Co. NA owned about 0.53% of Liberty Energy worth $16,573,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in LBRT. Andina Capital Management LLC grew its holdings in shares of Liberty Energy by 3.9% during the 2nd quarter. Andina Capital Management LLC now owns 18,599 shares of the company’s stock worth $389,000 after purchasing an additional 691 shares in the last quarter. Creative Planning grew its stake in Liberty Energy by 3.7% during the third quarter. Creative Planning now owns 19,456 shares of the company’s stock worth $371,000 after buying an additional 703 shares in the last quarter. GAMMA Investing LLC increased its holdings in Liberty Energy by 69.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,743 shares of the company’s stock valued at $36,000 after buying an additional 713 shares during the period. Covestor Ltd raised its position in shares of Liberty Energy by 96.8% in the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company’s stock valued at $33,000 after buying an additional 838 shares in the last quarter. Finally, nVerses Capital LLC lifted its holdings in shares of Liberty Energy by 45.0% during the 2nd quarter. nVerses Capital LLC now owns 2,900 shares of the company’s stock worth $61,000 after acquiring an additional 900 shares during the period. Institutional investors own 98.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LBRT. Barclays lowered their price target on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Stifel Nicolaus lowered their target price on Liberty Energy from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Citigroup downgraded shares of Liberty Energy from a “buy” rating to a “neutral” rating and reduced their price target for the company from $25.00 to $19.00 in a research note on Friday, October 18th. Royal Bank of Canada dropped their price objective on shares of Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Finally, 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 note on Friday, October 18th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.89.

Liberty Energy Stock Performance

NYSE LBRT opened at $18.44 on Friday. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 8.78 and a beta of 1.70. Liberty Energy Inc. has a twelve month low of $16.57 and a twelve month high of $24.75. The stock has a fifty day simple moving average of $18.70 and a 200 day simple moving average of $20.42. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.17.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). The firm had revenue of $1.14 billion during 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 firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 EPS. Sell-side analysts expect that Liberty Energy Inc. will post 1.75 EPS for the current year.

Liberty Energy Increases Dividend

The business 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. The ex-dividend date is Friday, December 6th. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 1.74%. Liberty Energy’s dividend payout ratio is currently 15.24%.

Insiders Place Their Bets

In other news, CFO Michael Stock sold 15,000 shares of Liberty Energy stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $20.01, for a total transaction of $300,150.00. Following the completion of the transaction, the chief financial officer now directly owns 750,207 shares in the company, valued at $15,011,642.07. This trade represents a 1.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $19.91, for a total transaction of $398,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,678,813 shares in the company, valued at approximately $53,335,166.83. The trade was a 0.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,037 shares of company stock worth $1,911,802. 3.60% of the stock is currently owned by company 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.