Bridgeway Capital Management LLC Grows Position in Liberty Energy Inc. $LBRT

Bridgeway Capital Management LLC increased its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 6.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,238,961 shares of the company’s stock after buying an additional 69,780 shares during the period. Bridgeway Capital Management LLC’s holdings in Liberty Energy were worth $22,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new position in shares of Liberty Energy during the 4th quarter valued at approximately $29,000. First Horizon Corp lifted its position in shares of Liberty Energy by 58.2% during the 4th quarter. First Horizon Corp now owns 1,620 shares of the company’s stock valued at $30,000 after buying an additional 596 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Liberty Energy during the 4th quarter valued at approximately $32,000. Quadrant Capital Group LLC lifted its position in shares of Liberty Energy by 39.9% during the 4th quarter. Quadrant Capital Group LLC now owns 2,140 shares of the company’s stock valued at $40,000 after buying an additional 610 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Liberty Energy by 120.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the company’s stock valued at $41,000 after buying an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Insider Buying and Selling at Liberty Energy

In related news, CFO Michael Stock sold 19,998 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $33.48, for a total value of $669,533.04. Following the completion of the transaction, the chief financial officer directly owned 800,375 shares of the company’s stock, valued at approximately $26,796,555. This represents a 2.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman William F. Kimble sold 7,350 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $33.92, for a total value of $249,312.00. Following the completion of the transaction, the chairman directly owned 89,805 shares of the company’s stock, valued at approximately $3,046,185.60. This represents a 7.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 44,013 shares of company stock valued at $1,414,929. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

LBRT has been the topic of a number of recent analyst reports. Morgan Stanley set a $36.00 target price on Liberty Energy in a research report on Monday, April 27th. Stifel Nicolaus increased their target price on Liberty Energy from $28.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Barclays increased their target price on Liberty Energy from $29.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. UBS Group reiterated a “buy” rating on shares of Liberty Energy in a research report on Tuesday, May 26th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $32.00 target price on shares of Liberty Energy in a research report on Friday, April 24th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Liberty Energy currently has a consensus rating of “Moderate Buy” and an average price target of $32.18.

Liberty Energy Stock Down 0.6%

NYSE LBRT opened at $27.19 on Thursday. The business has a fifty day moving average price of $30.41 and a 200 day moving average price of $26.06. Liberty Energy Inc. has a one year low of $9.90 and a one year high of $34.48. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.97 and a current ratio of 2.21. The company has a market cap of $4.44 billion, a P/E ratio of 29.88, a P/E/G ratio of 2.34 and a beta of 0.51.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.19. Liberty Energy had a return on equity of 1.41% and a net margin of 3.71%.The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $954.71 million. During the same period in the prior year, the company earned $0.04 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. Research analysts anticipate that Liberty Energy Inc. will post 0.25 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, June 4th. Liberty Energy’s dividend payout ratio is currently 39.56%.

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. As of as of December 31, 2023, the company owned and operated a fleet of approximately 40 active hydraulic fracturing; and two sand mines in the Permian Basin.