Teacher Retirement System of Texas Grows Stock Position in Liberty Energy Inc. (NYSE:LBRT) (2024)

Teacher Retirement System of Texas increased its position in shares of Liberty Energy Inc. (NYSE:LBRT – Free Report) by 36.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 133,198 shares of the company’s stock after purchasing an additional 35,622 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.08% of Liberty Energy worth $2,416,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates grew its holdings in shares of Liberty Energy by 3.1% during the third quarter. Raymond James & Associates now owns 65,178 shares of the company’s stock worth $1,207,000 after buying an additional 1,943 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Liberty Energy by 53.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,244,480 shares of the company’s stock valued at $41,568,000 after acquiring an additional 778,111 shares in the last quarter. New York State Teachers Retirement System raised its holdings in Liberty Energy by 604.9% in the 3rd quarter. New York State Teachers Retirement System now owns 84,381 shares of the company’s stock valued at $1,563,000 after acquiring an additional 72,410 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Liberty Energy by 17.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,129 shares of the company’s stock worth $577,000 after purchasing an additional 4,557 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Liberty Energy by 48.7% in the 3rd quarter. Mackenzie Financial Corp now owns 25,871 shares of the company’s stock worth $456,000 after purchasing an additional 8,471 shares in the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. TD Cowen increased their price target on Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a report on Friday, April 19th. Barclays raised their target price on Liberty Energy from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Bank of America boosted their price target on shares of Liberty Energy from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. Morgan Stanley restated an “equal weight” rating and set a $24.00 price objective on shares of Liberty Energy in a research report on Monday, April 22nd. Finally, Piper Sandler lifted their target price on shares of Liberty Energy from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.30.

View Our Latest Report on LBRT

Insider Activity at Liberty Energy

In related news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $20.27, for a total value of $405,400.00. Following the completion of the transaction, the chief executive officer now owns 2,830,402 shares in the company, valued at $57,372,248.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Liberty Energy news, President Ron Gusek sold 50,000 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $22.99, for a total transaction of $1,149,500.00. Following the sale, the president now owns 1,213,259 shares in the company, valued at approximately $27,892,824.41. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $20.27, for a total value of $405,400.00. Following the completion of the transaction, the chief executive officer now owns 2,830,402 shares of the company’s stock, valued at approximately $57,372,248.54. The disclosure for this sale can be found here. Insiders sold 182,459 shares of company stock worth $4,025,391 in the last three months. 3.70% of the stock is owned by company insiders.

Liberty Energy Price Performance

Liberty Energy stock opened at $23.09 on Thursday. The company’s 50 day simple moving average is $21.75 and its 200-day simple moving average is $20.11. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.48. Liberty Energy Inc. has a 1 year low of $11.62 and a 1 year high of $23.46. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 8.43, a price-to-earnings-growth ratio of 1.15 and a beta of 1.83.

Liberty Energy (NYSE:LBRT – Get Free Report) 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). Liberty Energy had a net margin of 10.43% and a return on equity of 26.46%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the firm earned $0.90 EPS. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. As a group, equities research analysts expect that Liberty Energy Inc. will post 2.51 earnings per share for the current year.

Liberty Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, June 6th. Liberty Energy’s payout ratio is 10.22%.

Liberty Energy Profile

(Free Report)

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.

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