Envestnet Portfolio Solutions Inc. Boosts Stake in Liberty Energy Inc. (NYSE:LBRT)

Envestnet Portfolio Solutions Inc. boosted its stake in shares of Liberty Energy Inc. (NYSE:LBRT) by 28.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 13,719 shares of the company’s stock after acquiring an additional 3,059 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Liberty Energy were worth $249,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Sequoia Financial Advisors LLC lifted its holdings in Liberty Energy by 3.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 17,902 shares of the company’s stock worth $325,000 after buying an additional 621 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Liberty Energy by 2.0% during the third quarter. Los Angeles Capital Management LLC now owns 42,192 shares of the company’s stock worth $781,000 after buying an additional 836 shares during the period. CWM LLC lifted its holdings in Liberty Energy by 30.8% during the fourth quarter. CWM LLC now owns 4,141 shares of the company’s stock worth $75,000 after buying an additional 975 shares during the period. Strs Ohio lifted its holdings in Liberty Energy by 2.2% during the fourth quarter. Strs Ohio now owns 60,200 shares of the company’s stock worth $1,092,000 after buying an additional 1,300 shares during the period. Finally, Equitable Trust Co. lifted its holdings in Liberty Energy by 8.8% during the third quarter. Equitable Trust Co. now owns 16,346 shares of the company’s stock worth $303,000 after buying an additional 1,328 shares during the period. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Analysts Set New Price Targets

LBRT has been the subject of several analyst reports. Barclays increased their price objective on Liberty Energy from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Royal Bank of Canada increased their price objective on Liberty Energy from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Morgan Stanley reiterated an “equal weight” rating and set a $24.00 price objective on shares of Liberty Energy in a report on Monday, April 22nd. TD Cowen increased their price objective on Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a report on Friday, April 19th. Finally, Bank of America increased their price objective on Liberty Energy from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $24.30.

Insiders Place Their Bets

In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $20.27, for a total transaction of $405,400.00. Following the sale, the chief executive officer now directly owns 2,830,402 shares of the company’s stock, valued at approximately $57,372,248.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Ryan T. Gosney sold 2,000 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $23.50, for a total transaction of $47,000.00. Following the sale, the chief accounting officer now directly owns 170,882 shares in the company, valued at approximately $4,015,727. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $20.27, for a total value of $405,400.00. Following the sale, the chief executive officer now owns 2,830,402 shares in the company, valued at $57,372,248.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 188,459 shares of company stock valued at $4,168,391. Company insiders own 3.60% of the company’s stock.

Liberty Energy Price Performance

NYSE LBRT opened at $23.59 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.48 and a quick ratio of 1.16. The stock’s fifty day moving average price is $22.11 and its 200 day moving average price is $20.29. Liberty Energy Inc. has a 1 year low of $11.62 and a 1 year high of $24.36. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 8.61, a PEG ratio of 1.17 and a beta of 1.83.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings results on Thursday, April 18th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.06). The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. Liberty Energy’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. As a group, equities research analysts forecast that Liberty Energy Inc. will post 2.52 earnings per share for the current year.

Liberty Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, June 6th. Liberty Energy’s dividend payout ratio is currently 10.22%.

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.