BlackRock Fund Advisors has recently announced that it has increased stake in Liberty Energy Inc (NYSE:LBRT) by 103.95%. After grabbing 23.52 million shares, the institutional investor is now in possession of 11.99 million shares of the Energy Company. The new investment brought the stake of investor firm to 13.95% having worth around $463.26 million. Moreover, The Vanguard Group, Inc. increased its share by 0.93 million to have a control over 20.22 million shares. And Dimensional Fund Advisors LP raised its holdings to 0.4 million shares by acquiring 9.04 million shares or 5.36% of the stake.
Liberty Energy Inc (LBRT) concluded trading on 12/06/23 at a closing price of $17.75, with 4.1 million shares of worth about $72.78 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 29.56% during that period and on Wednesday the price saw a loss of about -6.38%. Currently the company’s common shares owned by public are about 178.75M shares, out of which, 162.72M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 14 analysts are covering the LBRT stock and their offered price forecasts bring an average price target of $24.39. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $27.00 and could fall to a lowest price of $21.00. The stock’s current price level is 27.22% above of average price target set by the analysts, while a rise to estimated low would result in gain of 15.48% for the stock. However, touching the estimated high of $27.00 would mean a gain of 34.26% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 55 times over the past 12 months. They bought 798,079 shares in 16 of the transactions. In 39 selling transactions, insiders dumped 1,072,845 shares.
iShares Core S&P Small Cap ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Liberty Energy Inc iShares Core S&P Small Cap ETF is currently holding 10.43 million shares of worth totaling $205.51 million. The company recently came selling 32309.0 shares which brought its stake up to 6.19% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 57954.0 shares, after which its hold over company’s outstanding shares expand to 2.83%, leaving 4.77 million shares with the mutual fund that have a worth of about $93.89 million. Vanguard Small Cap Index Fund, after buying 3.96 million shares, have now control over 2.35% of the stake in the company. It holds 10328.0 shares of worth $77.97 million.
Liberty Energy Inc (NYSE: LBRT) started trading at $18.86, below -$0.1 from concluding price of the previous day. However, the stock later moved at a day high price of 19.02, or with a loss of -6.38%. Stock saw a price change of -9.30% in past 5 days and over the past one month there was a price change of -11.95%. Year-to-date (YTD), LBRT shares are showing a performance of 10.87% which increased to 17.24% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $11.18 but also hit the highest price of $21.25 during that period. The average intraday trading volume for Liberty Energy Inc shares is 3.49 million. The stock is currently trading -8.83% below its 20-day simple moving average (SMA20), while that difference is down -7.61% for SMA50 and it goes to 13.16% higher than SMA200.
BlackRock Fund Advisors acquired 23.52 million shares of Liberty Energy Inc having value of about $463.26 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 11.99 million shares in the company valued at close to $212748447.0, or have control over 103.95% stake in the company. Liberty Energy Inc (NYSE: LBRT) currently have 178.75M outstanding shares and institutions hold larger chunk of about 98.68% of that. Holding of mutual funds in the company is about 53.55% while other institutional holders and individual stake holders have control over 68.83% and 30.34% of the stake respectively.
The stock has a current market capitalization of $2.99B and its 3Y-monthly beta is at 1.93. PE ratio of stock for trailing 12 months is 5.16, while it has posted earnings per share of $3.44 in the same period. Its PEG reads 0.41 and has Quick Ratio of 1.08 while making debt-to-equity ratio of 0.25. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for LBRT, volatility over the week remained 4.82% while standing at 3.29% over the month.
Analysts are in expectations that Liberty Energy Inc (LBRT) stock would likely to be making an EPS of $0.58 in the current quarter, while forecast for next quarter EPS is $0.72 and it is $3.2 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.51 which is $0.66 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.05 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 47.00% while it is estimated to increase by 0.19% in next year. EPS is likely to grow at an annualized rate of 12.50% for next 5-years, compared to annual growth of -2.57% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Morgan Stanley on April 18, 2023 offering an Equal-weight rating for the stock and assigned a target price range of between $20 and $17 to it.
