Peregrine Capital Management LLC Has $4.98 Million Holdings in Liberty Energy Inc. (NYSE:LBRT)

Peregrine Capital Management LLC cut its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 250,451 shares of the company’s stock after selling 9,108 shares during the period. Peregrine Capital Management LLC owned 0.15% of Liberty Energy worth $4,981,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Covestor Ltd lifted its position in Liberty Energy by 96.8% during the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company’s stock valued at $33,000 after purchasing an additional 838 shares during the period. Quarry LP raised its position in shares of Liberty Energy by 237.5% in the 3rd quarter. Quarry LP now owns 1,991 shares of the company’s stock valued at $38,000 after acquiring an additional 1,401 shares during the period. Blue Trust Inc. raised its position in shares of Liberty Energy by 604.9% in the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the company’s stock valued at $47,000 after acquiring an additional 2,111 shares during the period. Spire Wealth Management acquired a new stake in shares of Liberty Energy in the 4th quarter valued at approximately $60,000. Finally, US Bancorp DE raised its position in shares of 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. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Citigroup increased their price target on shares of Liberty Energy from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Stifel Nicolaus increased their price target on shares of Liberty Energy from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, January 31st. TD Cowen cut 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. The Goldman Sachs Group assumed coverage on shares of Liberty Energy in a research report on Friday, December 13th. They issued a “neutral” rating and a $19.00 price target on the stock. Finally, Wells Fargo & Company lowered their target price on Liberty Energy from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.30.

Liberty Energy Price Performance

NYSE LBRT opened at $17.78 on Thursday. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 9.51 and a beta of 1.63. Liberty Energy Inc. has a 52-week low of $16.57 and a 52-week high of $24.75. The business has a 50 day simple moving average of $19.66 and a 200 day simple moving average of $19.33. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.97 and a current ratio of 1.27.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Wednesday, January 29th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.06). Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. Analysts anticipate that Liberty Energy Inc. will post 0.62 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, March 6th. This represents a $0.32 annualized dividend and a dividend yield of 1.80%. Liberty Energy’s dividend payout ratio is currently 17.11%.

Insider Transactions at Liberty Energy

In other news, CEO Christopher A. Wright sold 2,936 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $19.16, for a total value of $56,253.76. Following the completion of the sale, the chief executive officer now owns 2,543,877 shares of the company’s stock, valued at approximately $48,740,683.32. This represents a 0.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Stock sold 10,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $18.49, for a total value of $184,900.00. Following the completion of the sale, the chief financial officer now directly owns 705,207 shares of the company’s stock, valued at approximately $13,039,277.43. The trade was a 1.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,936 shares of company stock valued at $1,341,184 in the last ninety days. 3.70% of the stock is currently owned by corporate insiders.

Liberty Energy Company 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.