Dynamic Technology Lab Private Ltd Sells 769 Shares of Liberty Energy Inc. (NYSE:LBRT)

Dynamic Technology Lab Private Ltd lowered its stake in shares of Liberty Energy Inc. (NYSE:LBRT) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,338 shares of the company’s stock after selling 769 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Liberty Energy were worth $1,228,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of LBRT. Citigroup Inc. increased its stake in Liberty Energy by 95.5% in the 3rd quarter. Citigroup Inc. now owns 224,165 shares of the company’s stock valued at $4,279,000 after buying an additional 109,489 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Liberty Energy by 8.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,237,247 shares of the company’s stock valued at $42,709,000 after acquiring an additional 166,443 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Liberty Energy by 15.9% during the third quarter. Pacer Advisors Inc. now owns 7,012,382 shares of the company’s stock valued at $133,866,000 after acquiring an additional 963,068 shares during the last quarter. Intech Investment Management LLC bought a new stake in Liberty Energy during the third quarter worth $904,000. Finally, Segall Bryant & Hamill LLC purchased a new position in Liberty Energy in the third quarter worth $1,214,000. 98.22% of the stock is owned by hedge funds and other institutional investors.

Liberty Energy Price Performance

Liberty Energy stock opened at $18.38 on Wednesday. The firm has a market capitalization of $3.00 billion, a P/E ratio of 8.75 and a beta of 1.70. Liberty Energy Inc. has a one year low of $16.57 and a one year high of $24.75. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.97. The business has a fifty day moving average price of $18.79 and a 200-day moving average price of $20.46.

Liberty Energy (NYSE:LBRT) last issued its earnings results on Wednesday, October 16th. The company reported $0.45 EPS 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 the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 EPS. As a group, equities research analysts forecast that Liberty Energy Inc. will post 1.75 EPS for the current year.

Liberty Energy Increases Dividend

The company also recently disclosed 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 of this dividend is Friday, December 6th. This represents a $0.32 annualized dividend and a yield of 1.74%. This is a boost from Liberty Energy’s previous quarterly dividend of $0.07. Liberty Energy’s payout ratio is currently 13.33%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LBRT. Royal Bank of Canada decreased their target price on Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Atb Cap Markets downgraded shares of Liberty Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Stifel Nicolaus dropped their target price on shares of Liberty Energy from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Barclays decreased their price target on shares of Liberty Energy from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Evercore ISI upgraded Liberty Energy to a “strong-buy” rating in a research note on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.89.

Insiders Place Their Bets

In other Liberty Energy news, CEO Christopher A. Wright sold 2,037 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $18.15, for a total value of $36,971.55. Following the transaction, the chief executive officer now directly owns 2,578,813 shares in the company, valued at $46,805,455.95. This represents a 0.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $300,150.00. Following the sale, the chief financial officer now owns 750,207 shares of the company’s stock, valued at approximately $15,011,642.07. This trade represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 99,037 shares of company stock worth $1,911,802 in the last three months. 3.70% of the stock is currently owned by corporate insiders.

Liberty Energy 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.