Miller Howard Investments Inc. NY Grows Position in Liberty Energy Inc. (NYSE:LBRT)

Miller Howard Investments Inc. NY raised its stake in shares of Liberty Energy Inc. (NYSE:LBRT) by 315.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 133,169 shares of the company’s stock after acquiring an additional 101,144 shares during the period. Miller Howard Investments Inc. NY owned approximately 0.08% of Liberty Energy worth $2,649,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LBRT. Creative Planning boosted its stake in shares of Liberty Energy by 28.6% in the 2nd quarter. Creative Planning now owns 18,753 shares of the company’s stock worth $392,000 after buying an additional 4,169 shares during the last quarter. Truist Financial Corp boosted its position in Liberty Energy by 13.4% in the second quarter. Truist Financial Corp now owns 90,862 shares of the company’s stock worth $1,898,000 after purchasing an additional 10,766 shares during the last quarter. Cetera Investment Advisers boosted its position in Liberty Energy by 6.3% in the second quarter. Cetera Investment Advisers now owns 52,948 shares of the company’s stock worth $1,106,000 after purchasing an additional 3,132 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Liberty Energy during the 2nd quarter valued at about $642,000. Finally, Park Avenue Securities LLC increased its position in shares of Liberty Energy by 10.8% during the 3rd quarter. Park Avenue Securities LLC now owns 28,277 shares of the company’s stock valued at $540,000 after purchasing an additional 2,756 shares during the last quarter. Institutional investors own 98.22% of the company’s stock.

Insider Activity at Liberty Energy

In other Liberty Energy news, CFO Michael Stock sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $18.49, for a total transaction of $184,900.00. Following the sale, the chief financial officer now directly owns 705,207 shares in the company, valued at $13,039,277.43. This represents a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Christopher A. Wright sold 2,936 shares of Liberty Energy stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $19.16, for a total value of $56,253.76. Following the completion of the transaction, the chief executive officer now owns 2,543,877 shares of the company’s stock, valued at approximately $48,740,683.32. This trade represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,936 shares of company stock valued at $1,341,184 over the last 90 days. 3.60% of the stock is owned by corporate insiders.

Liberty Energy Stock Performance

LBRT opened at $17.09 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.27. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 9.14 and a beta of 1.63. The company has a fifty day moving average of $19.76 and a 200 day moving average of $19.62. Liberty Energy Inc. has a fifty-two week low of $16.57 and a fifty-two week high of $24.75.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Liberty Energy had a net margin of 7.32% and a return on equity of 14.28%. As a group, sell-side analysts forecast that Liberty Energy Inc. will post 0.62 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.87%. The ex-dividend date is Thursday, March 6th. Liberty Energy’s dividend payout ratio is presently 17.11%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LBRT. Barclays cut their target price on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Stifel Nicolaus boosted their price objective on shares of Liberty Energy from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, January 31st. TD Cowen decreased their target price on Liberty Energy from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada cut their price target on Liberty Energy from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Finally, Wells Fargo & Company decreased their price objective on Liberty Energy from $24.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.30.

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.