Loomis Sayles & Co. L P Sells 12,742 Shares of Liberty Energy Inc. (NYSE:LBRT)

Loomis Sayles & Co. L P trimmed its stake in shares of Liberty Energy Inc. (NYSE:LBRT) by 3.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 316,140 shares of the company’s stock after selling 12,742 shares during the quarter. Loomis Sayles & Co. L P owned about 0.19% of Liberty Energy worth $6,035,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of LBRT. Pacer Advisors Inc. lifted its position in shares of Liberty Energy by 15.9% during the 3rd quarter. Pacer Advisors Inc. now owns 7,012,382 shares of the company’s stock worth $133,866,000 after buying an additional 963,068 shares during the last quarter. Canoe Financial LP lifted its position in shares of Liberty Energy by 20.4% during the 3rd quarter. Canoe Financial LP now owns 4,124,695 shares of the company’s stock worth $79,408,000 after buying an additional 699,500 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Liberty Energy by 17.6% during the 2nd quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock worth $82,754,000 after buying an additional 594,051 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Liberty Energy by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,634,256 shares of the company’s stock worth $55,030,000 after buying an additional 67,362 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Liberty Energy by 8.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,237,247 shares of the company’s stock worth $42,709,000 after buying an additional 166,443 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $19.91, for a total transaction of $398,200.00. Following the completion of the sale, the chief executive officer now owns 2,678,813 shares of the company’s stock, valued at $53,335,166.83. This trade represents a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Michael Stock sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $21.01, for a total value of $105,050.00. Following the sale, the chief financial officer now directly owns 745,207 shares of the company’s stock, valued at $15,656,799.07. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,037 shares of company stock valued at $1,911,802. Company insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on LBRT. Atb Cap Markets downgraded Liberty Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Wells Fargo & Company dropped their price objective on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Stifel Nicolaus dropped their price objective on Liberty Energy from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Royal Bank of Canada lowered their target price on Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Finally, Citigroup cut Liberty Energy from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $25.00 to $19.00 in a report on Friday, October 18th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.89.

Liberty Energy Trading Up 0.2 %

Shares of LBRT stock opened at $18.45 on Thursday. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 8.78 and a beta of 1.70. The stock has a 50-day moving average of $18.74 and a 200-day moving average of $20.44. The company has a current ratio of 1.23, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. Liberty Energy Inc. has a 1-year low of $16.57 and a 1-year high of $24.75.

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

Liberty Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.08 dividend. This is a boost from Liberty Energy’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.32 annualized dividend and a dividend yield of 1.73%. Liberty Energy’s dividend payout ratio is presently 15.24%.

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.