Harbour Capital Advisors LLC Acquires Shares of 23,835 Liberty Energy Inc. (NYSE:LBRT)

Harbour Capital Advisors LLC acquired a new stake in Liberty Energy Inc. (NYSE:LBRT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 23,835 shares of the company’s stock, valued at approximately $498,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in LBRT. Covestor Ltd boosted its position in Liberty Energy by 96.8% during the third quarter. Covestor Ltd now owns 1,704 shares of the company’s stock worth $33,000 after purchasing an additional 838 shares during the period. Quarry LP boosted its holdings in shares of Liberty Energy by 237.5% during the 3rd quarter. Quarry LP now owns 1,991 shares of the company’s stock worth $38,000 after buying an additional 1,401 shares during the period. GAMMA Investing LLC grew its stake in Liberty Energy by 82.1% in the 3rd quarter. GAMMA Investing LLC now owns 3,174 shares of the company’s stock valued at $61,000 after buying an additional 1,431 shares during the last quarter. US Bancorp DE raised its holdings in Liberty Energy by 93.2% in the 3rd quarter. US Bancorp DE now owns 4,180 shares of the company’s stock valued at $80,000 after acquiring an additional 2,016 shares during the period. Finally, KBC Group NV lifted its position in Liberty Energy by 24.8% during the third quarter. KBC Group NV now owns 4,906 shares of the company’s stock worth $94,000 after acquiring an additional 974 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Michael Stock sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $18.45, for a total value of $92,250.00. Following the completion of the transaction, the chief financial officer now owns 720,207 shares of the company’s stock, valued at $13,287,819.15. This represents a 0.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher A. Wright sold 16,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $18.23, for a total transaction of $291,680.00. Following the sale, the chief executive officer now directly owns 2,562,813 shares in the company, valued at approximately $46,720,080.99. The trade was a 0.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,973 shares of company stock worth $1,471,335. Corporate insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

LBRT has been the topic of several research reports. The Goldman Sachs Group began coverage on Liberty Energy in a research report on Friday, December 13th. They issued a “neutral” rating and a $19.00 target price on the stock. Wells Fargo & Company lowered their price objective on Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Seaport Res Ptn upgraded shares of Liberty Energy from a “hold” rating to a “strong-buy” rating in a research note on Sunday, January 5th. TD Cowen lowered their price target on shares of Liberty Energy from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, Citigroup boosted their price objective on shares of Liberty Energy from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.20.

Liberty Energy Stock Down 1.3 %

NYSE LBRT opened at $21.13 on Tuesday. The business has a fifty day moving average price of $18.74 and a two-hundred day moving average price of $19.67. The stock has a market capitalization of $3.45 billion, a PE ratio of 10.06 and a beta of 1.66. Liberty Energy Inc. has a fifty-two week low of $16.57 and a fifty-two week 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.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data 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). Liberty Energy had a return on equity of 18.50% and a net margin of 8.02%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the company earned $0.85 earnings per share. Liberty Energy’s quarterly revenue was down 6.4% compared to the same quarter last year. Equities analysts expect that Liberty Energy Inc. will post 1.72 earnings per share for the current fiscal year.

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.