Illinois Municipal Retirement Fund Invests $1.85 Million in Liberty Energy Inc. (NYSE:LBRT)

Illinois Municipal Retirement Fund purchased a new position in Liberty Energy Inc. (NYSE:LBRT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 101,900 shares of the company’s stock, valued at approximately $1,848,000. Illinois Municipal Retirement Fund owned about 0.06% of Liberty Energy at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. CWM LLC increased its position in Liberty Energy by 59.7% during the third quarter. CWM LLC now owns 3,166 shares of the company’s stock worth $59,000 after buying an additional 1,183 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Liberty Energy during the third quarter worth $97,000. Spirit of America Management Corp NY acquired a new position in Liberty Energy during the fourth quarter worth $127,000. Xponance Inc. acquired a new position in Liberty Energy during the fourth quarter worth $182,000. Finally, Jupiter Asset Management Ltd. acquired a new position in Liberty Energy during the third quarter worth $190,000. 98.22% of the stock is owned by institutional investors and hedge funds.

Liberty Energy Stock Up 1.1 %

Shares of LBRT opened at $23.01 on Friday. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 8.40, a P/E/G ratio of 1.14 and a beta of 1.85. The company has a quick ratio of 1.16, a current ratio of 1.48 and a debt-to-equity ratio of 0.17. Liberty Energy Inc. has a 12 month low of $11.62 and a 12 month high of $23.31. The company has a 50-day moving average price of $21.38 and a two-hundred day moving average price of $19.81.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings results on Thursday, April 18th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 EPS. Equities analysts predict that Liberty Energy Inc. will post 2.54 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Wednesday, June 5th. Liberty Energy’s payout ratio is 10.22%.

Analysts Set New Price Targets

Several equities analysts have commented on LBRT shares. Bank of America increased their target price on shares of Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. TD Cowen upped their price target on shares of Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a report on Friday, April 19th. Royal Bank of Canada upped their price target on shares of Liberty Energy from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Barclays upped their price target on shares of Liberty Energy from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Piper Sandler upped their price target on shares of Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Liberty Energy has an average rating of “Moderate Buy” and an average target price of $24.30.

Insider Transactions at Liberty Energy

In other news, insider R Sean Elliott sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total transaction of $410,000.00. Following the completion of the sale, the insider now owns 218,530 shares of the company’s stock, valued at $4,479,865. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider R Sean Elliott sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total transaction of $410,000.00. Following the completion of the sale, the insider now owns 218,530 shares of the company’s stock, valued at $4,479,865. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Ryan T. Gosney sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total transaction of $123,000.00. Following the sale, the chief accounting officer now directly owns 140,706 shares of the company’s stock, valued at approximately $2,884,473. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,459 shares of company stock valued at $2,077,491. Corporate insiders own 3.60% of the company’s stock.

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.