Bokf Na Makes New $1.49 Million Investment in Liberty Energy Inc. (NYSE:LBRT)

Bokf Na bought a new position in shares of Liberty Energy Inc. (NYSE:LBRT) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 71,043 shares of the company’s stock, valued at approximately $1,490,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EdgeRock Capital LLC acquired a new position in shares of Liberty Energy in the 4th quarter valued at $27,000. Principal Securities Inc. acquired a new position in shares of Liberty Energy in the 4th quarter valued at $39,000. Quadrant Capital Group LLC grew its holdings in shares of Liberty Energy by 70.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock valued at $53,000 after buying an additional 1,206 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Liberty Energy by 27.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after buying an additional 709 shares during the period. Finally, Lindbrook Capital LLC boosted its stake in Liberty Energy by 54.6% in the 1st quarter. Lindbrook Capital LLC now owns 3,393 shares of the company’s stock worth $70,000 after purchasing an additional 1,199 shares during the period. Institutional investors and hedge funds own 98.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Piper Sandler reduced their target price on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Bank of America reduced their target price on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. TD Cowen reduced their target price on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Friday, July 19th. Citigroup raised shares of Liberty Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $24.00 to $32.00 in a research note on Wednesday, May 29th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $24.00 target price on shares of Liberty Energy in a research note on Monday, April 22nd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Liberty Energy has a consensus rating of “Moderate Buy” and a consensus price target of $24.78.

Liberty Energy Stock Up 3.1 %

NYSE:LBRT traded up $0.69 on Friday, hitting $22.97. 2,547,759 shares of the company’s stock were exchanged, compared to its average volume of 2,536,400. The firm has a 50-day moving average price of $21.83 and a 200-day moving average price of $21.16. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 1.07. Liberty Energy Inc. has a 52 week low of $15.57 and a 52 week high of $24.75. The company has a market cap of $3.80 billion, a P/E ratio of 8.38, a price-to-earnings-growth ratio of 1.34 and a beta of 1.74.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. Liberty Energy’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 EPS. As a group, analysts expect that Liberty Energy Inc. will post 2.19 EPS for the current fiscal year.

Liberty Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.22%. Liberty Energy’s payout ratio is 10.22%.

Insider Activity

In other news, insider R Sean Elliott sold 20,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $23.10, for a total value of $462,000.00. Following the sale, the insider now directly owns 259,108 shares of the company’s stock, valued at approximately $5,985,394.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Liberty Energy news, CAO Ryan T. Gosney sold 2,000 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $23.50, for a total value of $47,000.00. Following the transaction, the chief accounting officer now directly owns 170,882 shares of the company’s stock, valued at approximately $4,015,727. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider R Sean Elliott sold 20,000 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $23.10, for a total transaction of $462,000.00. Following the completion of the transaction, the insider now directly owns 259,108 shares in the company, valued at $5,985,394.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 176,000 shares of company stock valued at $3,932,731. 3.60% of the stock is 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.