Corigliano Investment Advisers LLC Purchases New Holdings in Liberty Energy Inc. $LBRT

Corigliano Investment Advisers LLC purchased a new stake in Liberty Energy Inc. (NYSE:LBRT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 207,600 shares of the company’s stock, valued at approximately $3,832,000. Liberty Energy makes up 1.4% of Corigliano Investment Advisers LLC’s investment portfolio, making the stock its 22nd largest holding. Corigliano Investment Advisers LLC owned 0.13% of Liberty Energy at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Los Angeles Capital Management LLC acquired a new stake in shares of Liberty Energy in the fourth quarter valued at approximately $29,000. First Horizon Corp increased its holdings in shares of Liberty Energy by 58.2% in the fourth quarter. First Horizon Corp now owns 1,620 shares of the company’s stock valued at $30,000 after purchasing an additional 596 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Liberty Energy in the fourth quarter valued at approximately $32,000. Quadrant Capital Group LLC increased its holdings in shares of Liberty Energy by 39.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,140 shares of the company’s stock valued at $40,000 after purchasing an additional 610 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of Liberty Energy by 120.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the company’s stock valued at $41,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LBRT. Stifel Nicolaus raised their price target on shares of Liberty Energy from $28.00 to $37.00 and gave the company a “buy” rating in a report on Friday, April 24th. UBS Group reissued a “buy” rating on shares of Liberty Energy in a report on Tuesday, May 26th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $32.00 price target on shares of Liberty Energy in a report on Friday, April 24th. Morgan Stanley set a $36.00 target price on shares of Liberty Energy in a report on Monday, April 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Energy in a report on Friday, May 1st. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Liberty Energy presently has an average rating of “Moderate Buy” and an average price target of $32.18.

Insiders Place Their Bets

In other news, CFO Michael Stock sold 19,998 shares of Liberty Energy stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $33.48, for a total transaction of $669,533.04. Following the transaction, the chief financial officer directly owned 800,375 shares of the company’s stock, valued at $26,796,555. This trade represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman William F. Kimble sold 7,350 shares of Liberty Energy stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $33.92, for a total transaction of $249,312.00. Following the transaction, the chairman directly owned 89,805 shares in the company, valued at approximately $3,046,185.60. This represents a 7.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 44,013 shares of company stock worth $1,414,929. Insiders own 2.00% of the company’s stock.

Liberty Energy Price Performance

LBRT opened at $27.19 on Thursday. The company has a fifty day moving average price of $30.41 and a two-hundred day moving average price of $26.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.97 and a current ratio of 2.21. Liberty Energy Inc. has a 52 week low of $9.90 and a 52 week high of $34.48. The firm has a market capitalization of $4.44 billion, a PE ratio of 29.88, a P/E/G ratio of 2.34 and a beta of 0.51.

Liberty Energy (NYSE:LBRT) last released its earnings results on Wednesday, April 22nd. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.19. Liberty Energy had a net margin of 3.71% and a return on equity of 1.41%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $954.71 million. During the same quarter in the previous year, the business earned $0.04 EPS. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, analysts anticipate that Liberty Energy Inc. will post 0.25 earnings per share for the current year.

Liberty Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, June 4th. Liberty Energy’s dividend payout ratio (DPR) is currently 39.56%.

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. As of as of December 31, 2023, the company owned and operated a fleet of approximately 40 active hydraulic fracturing; and two sand mines in the Permian Basin.