Gallacher Capital Management LLC Purchases Shares of 9,935 Liberty Energy Inc. (NYSE:LBRT)

Gallacher Capital Management LLC acquired a new position in shares of Liberty Energy Inc. (NYSE:LBRT) during the 1st quarter, Holdings Channel.com reports. The fund acquired 9,935 shares of the company’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds have also modified their holdings of the company. EdgeRock Capital LLC acquired a new stake in Liberty Energy during the fourth quarter worth $27,000. Principal Securities Inc. bought a new position in shares of Liberty Energy during the 4th quarter worth about $39,000. Quadrant Capital Group LLC boosted its position in shares of Liberty Energy by 70.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock valued at $53,000 after acquiring an additional 1,206 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Liberty Energy by 27.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after acquiring an additional 709 shares during the period. Finally, C M Bidwell & Associates Ltd. acquired a new position in Liberty Energy in the fourth quarter worth about $63,000. 98.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on LBRT shares. TD Cowen lifted 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. Citigroup upgraded Liberty Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $24.00 to $32.00 in a research report on Wednesday, May 29th. Bank of America lifted 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. Barclays upped their target price on shares of Liberty Energy from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, Royal Bank of Canada increased their target price on shares of Liberty Energy from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.50.

Insider Transactions at Liberty Energy

In related news, CFO Michael Stock sold 4,374 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $21.01, for a total value of $91,897.74. Following the transaction, the chief financial officer now owns 785,207 shares in the company, valued at $16,497,199.07. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, President Ron Gusek sold 50,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $22.99, for a total value of $1,149,500.00. Following the transaction, the president now directly owns 1,213,259 shares in the company, valued at approximately $27,892,824.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Stock sold 4,374 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $21.01, for a total value of $91,897.74. Following the completion of the sale, the chief financial officer now owns 785,207 shares of the company’s stock, valued at approximately $16,497,199.07. The disclosure for this sale can be found here. Insiders sold a total of 176,000 shares of company stock worth $3,932,731 over the last 90 days. 3.60% of the stock is owned by insiders.

Liberty Energy Price Performance

NYSE LBRT traded up $0.14 on Friday, hitting $21.10. 358,227 shares of the company were exchanged, compared to its average volume of 2,670,842. The company has a current ratio of 1.48, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17. The company has a market cap of $3.52 billion, a P/E ratio of 7.65, a P/E/G ratio of 1.08 and a beta of 1.74. Liberty Energy Inc. has a 1-year low of $14.75 and a 1-year high of $24.75. The firm has a 50 day moving average of $21.98 and a two-hundred day moving average of $20.90.

Liberty Energy (NYSE:LBRT) last announced its earnings results on Thursday, April 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the company posted $0.90 earnings per share. On average, equities analysts predict that Liberty Energy Inc. will post 2.39 EPS for the current year.

Liberty Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were paid a $0.07 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.33%. Liberty Energy’s dividend payout ratio (DPR) 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.