Teacher Retirement System of Texas Acquires New Stake in Liberty Energy Inc. (NYSE:LBRT)

Teacher Retirement System of Texas purchased a new stake in Liberty Energy Inc. (NYSE:LBRT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 22,713 shares of the company's stock, valued at approximately $360,000.

Several other hedge funds also recently made changes to their positions in LBRT. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Liberty Energy by 52.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 47,850 shares of the company's stock worth $757,000 after purchasing an additional 16,551 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Liberty Energy by 6.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,054,615 shares of the company's stock valued at $32,566,000 after acquiring an additional 118,878 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of Liberty Energy by 15.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 98,131 shares of the company's stock valued at $1,553,000 after purchasing an additional 13,185 shares during the period. Bessemer Group Inc. increased its position in Liberty Energy by 4.8% during the first quarter. Bessemer Group Inc. now owns 607,431 shares of the company's stock worth $9,615,000 after buying an additional 27,649 shares during the last quarter. Finally, Manning & Napier Advisors LLC bought a new stake in Liberty Energy in the first quarter valued at approximately $1,110,000. 98.22% of the stock is owned by institutional investors.

Liberty Energy Trading Down 2.1%

Liberty Energy stock traded down $0.24 during trading hours on Monday, reaching $11.12. 668,372 shares of the company's stock were exchanged, compared to its average volume of 2,859,810. The firm's 50 day simple moving average is $12.20 and its 200 day simple moving average is $14.66. Liberty Energy Inc. has a twelve month low of $9.50 and a twelve month high of $24.43. The firm has a market capitalization of $1.80 billion, a PE ratio of 7.38 and a beta of 0.66. The company has a quick ratio of 0.91, a current ratio of 1.20 and a debt-to-equity ratio of 0.21.

Liberty Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.88%. The ex-dividend date is Thursday, September 4th. Liberty Energy's payout ratio is currently 21.19%.

Analyst Upgrades and Downgrades

LBRT has been the subject of several research analyst reports. Citigroup reduced their target price on shares of Liberty Energy from $16.00 to $13.50 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Stifel Nicolaus reduced their price objective 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. Cowen reissued a "hold" rating on shares of Liberty Energy in a research note on Monday, April 21st. Piper Sandler initiated coverage on Liberty Energy in a report on Tuesday, July 15th. They set a "neutral" rating and a $14.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their target price on Liberty Energy from $16.00 to $13.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Eight research analysts have rated the stock with a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Liberty Energy has a consensus rating of "Moderate Buy" and an average price target of $15.65.

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.