State Board of Administration of Florida Retirement System Invests $135,000 in Liberty Energy Inc. (NYSE:LBRT)

State Board of Administration of Florida Retirement System bought a new position in shares of Liberty Energy Inc. (NYSE:LBRTGet Rating) during the second quarter, HoldingsChannel reports. The institutional investor bought 10,585 shares of the company’s stock, valued at approximately $135,000.

Other institutional investors have also modified their holdings of the company. Cornerstone Investment Partners LLC purchased a new position in Liberty Energy during the second quarter valued at approximately $140,000. Seven Eight Capital LP purchased a new position in Liberty Energy during the first quarter valued at approximately $193,000. GSA Capital Partners LLP purchased a new position in Liberty Energy during the first quarter valued at approximately $196,000. Advisor Group Holdings Inc. increased its holdings in Liberty Energy by 24.7% during the first quarter. Advisor Group Holdings Inc. now owns 13,300 shares of the company’s stock valued at $194,000 after buying an additional 2,637 shares during the period. Finally, Well Done LLC increased its holdings in Liberty Energy by 25.0% during the second quarter. Well Done LLC now owns 13,500 shares of the company’s stock valued at $172,000 after buying an additional 2,701 shares during the period. 94.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LBRT has been the topic of several research reports. Piper Sandler lifted their price objective on shares of Liberty Energy from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, November 18th. Royal Bank of Canada raised shares of Liberty Energy from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $21.00 to $25.00 in a report on Wednesday, July 27th. ATB Capital lifted their price target on shares of Liberty Energy to $23.50 in a report on Thursday, October 27th. Morgan Stanley lifted their price target on shares of Liberty Energy from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Monday, October 24th. Finally, Citigroup lifted their price target on shares of Liberty Energy from $23.50 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, October 19th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.23.

Insider Transactions at Liberty Energy

In other news, major shareholder Limited/Nv Schlumberger sold 12,367,500 shares of Liberty Energy stock in a transaction on Monday, October 24th. The shares were sold at an average price of $15.33, for a total transaction of $189,593,775.00. Following the completion of the sale, the insider now directly owns 10,701,961 shares in the company, valued at $164,061,062.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Limited/Nv Schlumberger sold 12,367,500 shares of the business’s stock in a transaction on Monday, October 24th. The shares were sold at an average price of $15.33, for a total transaction of $189,593,775.00. Following the completion of the transaction, the insider now directly owns 10,701,961 shares in the company, valued at $164,061,062.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher A. Wright sold 17,029 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $16.04, for a total transaction of $273,145.16. Following the transaction, the chief executive officer now owns 3,371,086 shares of the company’s stock, valued at $54,072,219.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,486,299 shares of company stock worth $191,518,710. Company insiders own 3.40% of the company’s stock.

Liberty Energy Trading Up 2.7 %

NYSE:LBRT opened at $16.91 on Wednesday. Liberty Energy Inc. has a 12 month low of $8.50 and a 12 month high of $20.05. The firm has a fifty day simple moving average of $15.28 and a 200-day simple moving average of $14.64. The company has a current ratio of 1.41, a quick ratio of 1.15 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $3.09 billion, a P/E ratio of 17.08 and a beta of 2.29.

Liberty Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 20th. Stockholders of record on Tuesday, December 6th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, December 5th. This represents a $0.20 annualized dividend and a dividend yield of 1.18%.

Liberty Energy Company Profile

(Get Rating)

Liberty Energy Inc provides hydraulic fracturing and wireline services, and related goods to onshore oil and natural gas exploration and production companies in North America. It also offers hydraulic fracturing pressure pumping services, including pressure pumping and pumpdown perforating services, as well wireline services, proppant delivery solutions, data analytics, related goods and technologies.

Further Reading

Want to see what other hedge funds are holding LBRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Liberty Energy Inc. (NYSE:LBRTGet Rating).

Institutional Ownership by Quarter for Liberty Energy (NYSE:LBRT)

Receive News & Ratings for Liberty Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Liberty Energy and related companies with MarketBeat.com's FREE daily email newsletter.