Penn Capital Management Company LLC Purchases New Holdings in Liberty Energy Inc. (NYSE:LBRT)

Penn Capital Management Company LLC bought a new position in Liberty Energy Inc. (NYSE:LBRT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 269,809 shares of the company's stock, valued at approximately $5,367,000. Penn Capital Management Company LLC owned approximately 0.17% of Liberty Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in Liberty Energy by 61.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,146,179 shares of the company's stock valued at $60,061,000 after purchasing an additional 1,193,918 shares during the last quarter. Harbour Capital Advisors LLC bought a new stake in Liberty Energy in the 4th quarter worth about $498,000. Principal Financial Group Inc. raised its position in Liberty Energy by 2.8% in the 4th quarter. Principal Financial Group Inc. now owns 897,040 shares of the company's stock worth $17,842,000 after buying an additional 24,825 shares during the last quarter. Raymond James Financial Inc. bought a new position in Liberty Energy during the 4th quarter valued at about $6,792,000. Finally, Franklin Resources Inc. boosted its holdings in shares of Liberty Energy by 2.4% during the 3rd quarter. Franklin Resources Inc. now owns 2,631,360 shares of the company's stock valued at $53,706,000 after acquiring an additional 61,909 shares during the last quarter. Hedge funds and other institutional investors own 98.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LBRT shares. Cowen reiterated a "hold" rating on shares of Liberty Energy in a research note on Monday, April 21st. Morgan Stanley raised Liberty Energy from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $20.00 to $25.00 in a report on Thursday, March 27th. TD Cowen upped their price target on shares of Liberty Energy from $10.00 to $13.00 and gave the company a "hold" rating in a research report on Monday, April 21st. The Goldman Sachs Group dropped their price objective on shares of Liberty Energy from $19.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Finally, Stifel Nicolaus reduced their target price on shares of Liberty Energy from $23.00 to $22.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Liberty Energy presently has an average rating of "Moderate Buy" and a consensus target price of $18.05.

Insider Activity

In related news, CFO Michael Stock sold 10,000 shares of Liberty Energy stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $17.94, for a total value of $179,400.00. Following the completion of the transaction, the chief financial officer now owns 717,292 shares in the company, valued at approximately $12,868,218.48. This trade represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company's stock.

Liberty Energy Price Performance

Shares of NYSE:LBRT traded up $0.03 during midday trading on Tuesday, reaching $12.30. 505,812 shares of the company were exchanged, compared to its average volume of 2,734,354. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 0.20. The stock has a market cap of $1.99 billion, a PE ratio of 6.56 and a beta of 1.18. The business's fifty day moving average is $14.02 and its two-hundred day moving average is $17.20. Liberty Energy Inc. has a one year low of $9.50 and a one year high of $24.75.

Liberty Energy (NYSE:LBRT - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. Liberty Energy had a net margin of 7.32% and a return on equity of 14.28%. The business had revenue of $977.46 million during the quarter, compared to the consensus estimate of $960.64 million. During the same quarter in the prior year, the firm earned $0.48 EPS. As a group, analysts predict that Liberty Energy Inc. will post 0.58 earnings per share for the current year.

Liberty Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.32 annualized dividend and a dividend yield of 2.60%. Liberty Energy's dividend payout ratio (DPR) is 21.19%.

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.