Balyasny Asset Management L.P. Acquires New Stake in Liberty Energy Inc. (NYSE:LBRT)

Balyasny Asset Management L.P. acquired a new stake in Liberty Energy Inc. (NYSE:LBRT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,022,493 shares of the company's stock, valued at approximately $20,337,000. Balyasny Asset Management L.P. owned approximately 0.63% of Liberty Energy as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of LBRT. Harbor Capital Advisors Inc. increased its holdings in shares of Liberty Energy by 0.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 82,223 shares of the company's stock worth $1,635,000 after buying an additional 708 shares in the last quarter. Xponance Inc. boosted its stake in shares of Liberty Energy by 7.0% during the fourth quarter. Xponance Inc. now owns 11,263 shares of the company's stock valued at $224,000 after purchasing an additional 733 shares in the last quarter. Empirical Finance LLC boosted its stake in shares of Liberty Energy by 2.2% during the fourth quarter. Empirical Finance LLC now owns 54,149 shares of the company's stock valued at $1,077,000 after purchasing an additional 1,185 shares in the last quarter. Park Avenue Securities LLC increased its stake in shares of Liberty Energy by 5.0% in the fourth quarter. Park Avenue Securities LLC now owns 29,700 shares of the company's stock valued at $591,000 after buying an additional 1,423 shares during the period. Finally, CIBC Private Wealth Group LLC raised its stake in shares of Liberty Energy by 257.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,197 shares of the company's stock valued at $47,000 after acquiring an additional 1,583 shares during the last quarter. Institutional investors and hedge funds own 98.22% of the company's stock.

Liberty Energy Stock Up 1.4 %

Shares of NYSE:LBRT traded up $0.17 during midday trading on Friday, hitting $12.08. 1,673,492 shares of the company's stock were exchanged, compared to its average volume of 2,769,106. Liberty Energy Inc. has a 12 month low of $9.50 and a 12 month high of $24.75. The company has a market cap of $1.96 billion, a PE ratio of 6.46 and a beta of 0.71. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.27 and a quick ratio of 0.97. The stock has a 50 day moving average price of $13.05 and a 200-day moving average price of $16.78.

Liberty Energy (NYSE:LBRT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. 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 company posted $0.48 earnings per share. On average, sell-side analysts anticipate that Liberty Energy Inc. will post 0.58 EPS for the current fiscal year.

Liberty Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Friday, June 6th. Liberty Energy's dividend payout ratio is presently 21.19%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LBRT. Wells Fargo & Company restated an "equal weight" rating and set a $11.00 price objective (down from $20.00) on shares of Liberty Energy in a research report on Tuesday, April 8th. Royal Bank of Canada lowered shares of Liberty Energy from an "outperform" rating to a "sector perform" rating and reduced their price objective for the company from $24.00 to $19.00 in a research note on Monday, March 24th. Barclays dropped their target price on shares of Liberty Energy from $17.00 to $16.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. TD Cowen raised their target price on Liberty Energy from $10.00 to $13.00 and gave the stock a "hold" rating in a research note on Monday, April 21st. Finally, Morgan Stanley upgraded Liberty Energy from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $20.00 to $25.00 in a report on Thursday, March 27th. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Liberty Energy presently has an average rating of "Moderate Buy" and a consensus price target of $18.05.

About Liberty Energy

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.