Liberty Energy Inc. (NYSE:LBRT) Short Interest Update

Liberty Energy Inc. (NYSE:LBRT) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totalling 17,870,000 shares, a decrease of 9.5% from the September 15th total of 19,740,000 shares. Approximately 11.2% of the shares of the company are short sold. Based on an average trading volume of 2,040,000 shares, the short-interest ratio is presently 8.8 days.

Insider Activity at Liberty Energy

In other news, 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 completion of the transaction, the chief financial officer now directly owns 750,207 shares of the company’s stock, valued at approximately $15,011,642.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Michael Stock sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $20.01, for a total transaction of $300,150.00. Following the completion of the transaction, the chief financial officer now owns 750,207 shares in the company, valued at approximately $15,011,642.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $19.77, for a total transaction of $395,400.00. Following the completion of the sale, the chief executive officer now owns 2,638,813 shares in the company, valued at approximately $52,169,333.01. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,000 shares of company stock valued at $1,945,650. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Liberty Energy

A number of hedge funds have recently modified their holdings of LBRT. American Century Companies Inc. lifted its position in shares of Liberty Energy by 17.6% in the second quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock worth $82,754,000 after purchasing an additional 594,051 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Liberty Energy by 2.6% in the second 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. Hennessy Advisors Inc. lifted its stake in Liberty Energy by 48.0% in the second quarter. Hennessy Advisors Inc. now owns 1,981,100 shares of the company’s stock valued at $41,385,000 after acquiring an additional 642,700 shares during the last quarter. LSV Asset Management increased its stake in shares of Liberty Energy by 19.5% during the 2nd quarter. LSV Asset Management now owns 1,717,591 shares of the company’s stock worth $35,880,000 after purchasing an additional 280,550 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Liberty Energy by 34.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,498,921 shares of the company’s stock valued at $31,312,000 after purchasing an additional 381,841 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Analysts Set New Price Targets

LBRT has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their price target on Liberty Energy from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Citigroup decreased their price target on Liberty Energy from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Barclays dropped their price objective on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Wednesday. Bank of America decreased their target price on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Finally, TD Cowen cut their price target on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a report on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Liberty Energy Trading Up 1.5 %

LBRT stock traded up $0.29 during mid-day trading on Wednesday, reaching $20.09. 4,237,918 shares of the stock traded hands, compared to its average volume of 2,474,034. The stock’s fifty day moving average is $20.13 and its 200-day moving average is $21.37. The company has a market cap of $3.35 billion, a P/E ratio of 7.36, a P/E/G ratio of 1.20 and a beta of 1.68. The company has a current ratio of 1.35, a quick ratio of 1.07 and a debt-to-equity ratio of 0.17. Liberty Energy has a 52-week low of $16.69 and a 52-week high of $24.75.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm earned $0.87 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Liberty Energy will post 2.14 earnings per share for the current 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.