BlackRock Fund Advisors recently announced the acquisition of new stake in Liberty Energy Inc (NYSE:LBRT). The institutional investor has increased its shareholding in the Energy company by 103.95% to 23.52 million shares with purchase of 11.99 million shares. This fresh investment now brings its stake to 13.95% valued currently at $426.57 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.93 million to 20.22 million shares. And Dimensional Fund Advisors LP has lifted its position by 4.63% or 0.4 million shares – to 9.04 million shares.
Currently, there are 178.75M common shares owned by the public and among those 162.65M shares have been available to trade.
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Insiders at the company have transacted a total of 48 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 9 of these insider trades were purchases, accounting for 726,266 shares. Insider sales of the common stock occurred on 39 occasions, with total insider shares sold totaling 1,072,845 shares.
The top 3 mutual fund holders in Liberty Energy Inc are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market ETF, and Pacer Fds. Tr. – US Small Cap Cas. iShares Core S&P Small Cap ETF owns 10.27 million shares of the company’s stock, all valued at over $186.27 million. The company sold 38676.0 shares recently to bring their total holdings to about 6.09% of the shares outstanding. Vanguard Total Stock Market ETF bought 4119.0 shares to see its total holdings expand to 4.78 million shares valued at over $86.65 million and representing 2.83% of the shares outstanding. Pacer Fds. Tr. – US Small Cap Cas bought 19752.0 shares to bring its total holdings to over 4.69 million shares at a value of $85.06 million. Pacer Fds. Tr. – US Small Cap Cas now owns shares totaling to 2.78% of the shares outstanding.
However, the script later moved the day high at 17.69, up 1.67%. The company’s stock has a 5-day price change of 3.16% and -15.05% over the past three months. LBRT shares are trading -2.92% year to date (YTD), with the 12-month market performance up to 19.63% higher. It has a 12-month low price of $11.18 and touched a high of $21.25 over the same period. LBRT has an average intraday trading volume of 2.58 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.36%, -5.00%, and 8.10% respectively.
Institutional ownership of Liberty Energy Inc (NYSE: LBRT) shares accounts for 100.12% of the company’s 178.75M shares outstanding. Mutual fund holders own 53.52%, while other institutional holders and individual stakeholders account for 70.15% and 30.46% respectively.
It has a market capitalization of $2.97B and a beta (3y monthly) value of 1.88. The stock’s trailing 12-month PE ratio is 5.12, while the earnings-per-share (ttm) stands at $3.44. The company has a PEG of 0.41 and a Quick Ratio of 1.08 with the debt-to-equity ratio at 0.25. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.46% over the week and 2.77% over the month.
Analysts forecast that Liberty Energy Inc (LBRT) will achieve an EPS of $0.57 for the current quarter, $0.68 for the next quarter and $3.09 for 2024. The lowest estimate earnings-per-share for the quarter is $0.51 while analysts give the company a high EPS estimate of $0.66. Comparatively, EPS for the current quarter was $1.05 a year ago. Earnings per share for the fiscal year are expected to increase by 45.78%, and -5.99% over the next financial year. EPS should grow at an annualized rate of 12.50% over the next five years, compared to -2.57% over the past 5-year period.
Looking at the support for the LBRT, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on April 18, 2023, with the firm’s price target at $20-$17.
