Liberty Energy Inc. (NYSE:LBRT) Short Interest Update

16 Oct 2024, 16:58 by Scott Moore · The Cerbat Gem

Liberty Energy Inc. (NYSE:LBRT – Get Free Report) was the target of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 17,870,000 shares, a decline of 9.5% from the September 15th total of 19,740,000 shares. Approximately 11.2% of the shares of the company are short sold. Based on an average trading volume of 2,040,000 shares, the days-to-cover ratio is presently 8.8 days.

Analyst Upgrades and Downgrades

LBRT has been the subject of several recent research reports. TD Cowen dropped their price target on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating for the company in a research report on Friday, July 19th. Bank of America dropped their target price on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Barclays decreased their price target on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Wednesday. Piper Sandler dropped their price objective on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, Stifel Nicolaus reduced their target price on shares of Liberty Energy from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. 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, Liberty Energy currently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Check Out Our Latest Stock Report on LBRT

Insider Buying and Selling

In other news, CFO Michael Stock sold 15,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $19.23, for a total transaction of $288,450.00. Following the completion of the transaction, the chief financial officer now owns 730,207 shares of the company’s stock, valued at approximately $14,041,880.61. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Michael Stock sold 15,000 shares of Liberty Energy stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $19.23, for a total transaction of $288,450.00. Following the sale, the chief financial officer now owns 730,207 shares of the company’s stock, valued at approximately $14,041,880.61. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $19.77, for a total value of $395,400.00. Following the completion of the transaction, the chief executive officer now owns 2,638,813 shares of the company’s stock, valued at $52,169,333.01. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,000 shares of company stock valued at $1,945,650. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Liberty Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the company. American Century Companies Inc. boosted its holdings in Liberty Energy by 17.6% in the second quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock valued at $82,754,000 after acquiring an additional 594,051 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Liberty Energy by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,634,256 shares of the company’s stock valued at $55,030,000 after purchasing an additional 67,362 shares during the last quarter. Hennessy Advisors Inc. grew its position in shares of Liberty Energy by 48.0% during the 2nd quarter. Hennessy Advisors Inc. now owns 1,981,100 shares of the company’s stock worth $41,385,000 after buying an additional 642,700 shares during the period. LSV Asset Management grew its position in shares of Liberty Energy by 19.5% during the 2nd quarter. LSV Asset Management now owns 1,717,591 shares of the company’s stock worth $35,880,000 after buying an additional 280,550 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Liberty Energy by 34.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,498,921 shares of the company’s stock valued at $31,312,000 after buying an additional 381,841 shares during the period. Institutional investors own 98.22% of the company’s stock.

Liberty Energy Price Performance

Shares of NYSE LBRT traded up $0.29 during trading on Wednesday, reaching $20.09. The company had a trading volume of 4,237,918 shares, compared to its average volume of 2,474,034. Liberty Energy has a 52 week low of $16.69 and a 52 week high of $24.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35. The business’s 50 day moving average price is $20.13 and its 200-day moving average price is $21.37. The stock has a market cap of $3.35 billion, a PE ratio of 7.36, a PEG ratio of 1.20 and a beta of 1.68.

Liberty Energy (NYSE:LBRT – Get Free Report) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.87 EPS. Analysts expect that Liberty Energy will post 2.14 earnings per share for the current year.

Liberty Energy Company Profile

(Get Free Report)