Mendota Financial Group LLC Cuts Stock Position in Liberty Energy Inc. (NYSE:LBRT)

Mendota Financial Group LLC trimmed its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 29.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,982 shares of the company’s stock after selling 2,068 shares during the quarter. Mendota Financial Group LLC’s holdings in Liberty Energy were worth $99,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC increased its stake in Liberty Energy by 45.1% during the 3rd quarter. Empowered Funds LLC now owns 495,578 shares of the company’s stock worth $9,461,000 after buying an additional 154,070 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Liberty Energy by 61.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,146,179 shares of the company’s stock valued at $60,061,000 after purchasing an additional 1,193,918 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Liberty Energy by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 872,215 shares of the company’s stock worth $16,651,000 after purchasing an additional 37,927 shares during the last quarter. Quest Partners LLC grew its holdings in shares of Liberty Energy by 168.2% during the third quarter. Quest Partners LLC now owns 62,979 shares of the company’s stock worth $1,202,000 after buying an additional 39,497 shares in the last quarter. Finally, Impala Asset Management LLC grew its holdings in shares of Liberty Energy by 89.2% during the third quarter. Impala Asset Management LLC now owns 350,000 shares of the company’s stock worth $6,682,000 after buying an additional 165,000 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on LBRT. Wells Fargo & Company lowered their price target on shares of Liberty Energy from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. TD Cowen lowered their target price on Liberty Energy from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Seaport Res Ptn raised Liberty Energy from a “hold” rating to a “strong-buy” rating in a report on Sunday, January 5th. Royal Bank of Canada dropped their target price on Liberty Energy from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Finally, Atb Cap Markets upgraded Liberty Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.20.

Insider Buying and Selling

In other Liberty Energy news, CEO Christopher A. Wright sold 12,000 shares of Liberty Energy stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.44, for a total transaction of $209,280.00. Following the completion of the sale, the chief executive officer now directly owns 2,606,813 shares of the company’s stock, valued at $45,462,818.72. The trade was a 0.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Stock sold 20,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $20.82, for a total value of $416,400.00. Following the completion of the transaction, the chief financial officer now owns 680,207 shares in the company, valued at approximately $14,161,909.74. The trade was a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,973 shares of company stock valued at $1,471,335 in the last three months. 3.60% of the stock is owned by corporate insiders.

Liberty Energy Price Performance

LBRT stock opened at $21.13 on Tuesday. The business’s fifty day moving average price is $18.82 and its 200 day moving average price is $19.68. Liberty Energy Inc. has a 12-month low of $16.57 and a 12-month high of $24.75. The company has a current ratio of 1.23, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $3.45 billion, a PE ratio of 10.06 and a beta of 1.66.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. Liberty Energy had a net margin of 8.02% and a return on equity of 18.50%. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 EPS. On average, sell-side analysts anticipate that Liberty Energy Inc. will post 1.72 EPS for the current year.

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.