Deutsche Bank AG trimmed its stake in Liberty Energy Inc. (NYSE:LBRT - Free Report) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,273,152 shares of the company's stock after selling 141,236 shares during the quarter. Deutsche Bank AG owned approximately 0.78% of Liberty Energy worth $25,323,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in LBRT. Principal Financial Group Inc. boosted its holdings in shares of Liberty Energy by 2.8% during 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 period. Raymond James Financial Inc. bought a new position in shares of Liberty Energy during the fourth quarter worth approximately $6,792,000. Barclays PLC lifted its holdings in Liberty Energy by 197.9% during the 3rd quarter. Barclays PLC now owns 286,661 shares of the company's stock worth $5,471,000 after purchasing an additional 190,445 shares during the last quarter. Miller Howard Investments Inc. NY lifted its holdings in shares of Liberty Energy by 315.8% during the fourth quarter. Miller Howard Investments Inc. NY now owns 133,169 shares of the company's stock worth $2,649,000 after buying an additional 101,144 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in Liberty Energy in the 4th quarter valued at about $311,000. Institutional investors and hedge funds own 98.22% of the company's stock.
Liberty Energy Trading Down 0.7%
Shares of LBRT stock traded down $0.08 on Tuesday, hitting $11.89. The company had a trading volume of 170,520 shares, compared to its average volume of 2,770,394. Liberty Energy Inc. has a twelve month low of $9.50 and a twelve month high of $24.75. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.97 and a current ratio of 1.27. The firm has a market cap of $1.93 billion, a P/E ratio of 6.36 and a beta of 0.71. The stock's 50-day moving average is $12.75 and its two-hundred day moving average is $16.57.
Liberty Energy (NYSE:LBRT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The company reported $0.04 earnings per share for the quarter, topping 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 company had revenue of $977.46 million during the quarter, compared to analysts' expectations of $960.64 million. During the same period in the prior year, the company posted $0.48 earnings per share. On average, equities research analysts anticipate that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.
Liberty Energy Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.08 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.32 annualized dividend and a yield of 2.69%. Liberty Energy's payout ratio is currently 21.19%.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on LBRT. Morgan Stanley reduced their target price on Liberty Energy from $25.00 to $20.00 and set an "overweight" rating on the stock in a report on Friday. Wells Fargo & Company restated an "equal weight" rating and issued a $11.00 target price (down previously from $20.00) on shares of Liberty Energy in a research report on Tuesday, April 8th. Stifel Nicolaus decreased their target price on shares of Liberty Energy from $23.00 to $22.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. The Goldman Sachs Group dropped their price target on Liberty Energy from $19.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Finally, Citigroup reduced their price objective on Liberty Energy from $16.00 to $13.50 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $17.55.
View Our Latest Report on LBRT
About Liberty Energy
(
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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