489,104 Shares in Liberty Energy Inc. $LBRT Bought by Nuveen LLC

Key Points

• Nuveen LLC recently acquired a new position in Liberty Energy Inc., purchasing 489,104 shares valued at approximately $7.74 million, bringing its ownership to 0.30% of the company.
• Several institutional investors, including LPL Financial LLC and Renaissance Technologies LLC, have also increased their holdings in Liberty Energy, reflecting growing institutional interest in the stock.
• Liberty Energy announced a quarterly dividend of $0.08 per share, representing a 2.8% dividend yield, with the payout scheduled for September 18th.

Nuveen LLC bought a new position in Liberty Energy Inc. (NYSE:LBRT - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 489,104 shares of the company's stock, valued at approximately $7,743,000. Nuveen LLC owned approximately 0.30% of Liberty Energy as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Liberty Energy by 6.5% in the first quarter. Vanguard Group Inc. now owns 18,443,909 shares of the company's stock worth $291,967,000 after purchasing an additional 1,128,491 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Liberty Energy by 3.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,507,658 shares of the company's stock worth $39,696,000 after purchasing an additional 73,792 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Liberty Energy by 28.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 2,147,698 shares of the company's stock worth $42,718,000 after purchasing an additional 480,957 shares in the last quarter. Northern Trust Corp increased its stake in shares of Liberty Energy by 7.9% in the fourth quarter. Northern Trust Corp now owns 2,067,391 shares of the company's stock worth $41,120,000 after purchasing an additional 151,019 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of 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 worth $32,566,000 after purchasing an additional 118,878 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on LBRT. Barclays reduced their price objective on shares of Liberty Energy from $16.00 to $14.00 and set an "overweight" rating for the company in a research note on Tuesday, July 29th. Piper Sandler reduced their price objective on shares of Liberty Energy from $14.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, August 14th. Stifel Nicolaus reduced their price objective on shares of Liberty Energy from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Monday, July 28th. Wall Street Zen cut shares of Liberty Energy from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Liberty Energy from $16.00 to $13.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Three analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $15.05.

Liberty Energy Price Performance

Liberty Energy stock traded down $0.09 during mid-day trading on Friday, hitting $11.24. 2,647,715 shares of the company traded hands, compared to its average volume of 2,691,702. Liberty Energy Inc. has a one year low of $9.50 and a one year high of $23.58. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 8.64 and a beta of 0.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.91 and a current ratio of 1.16. The stock has a fifty day moving average price of $11.71 and a 200-day moving average price of $12.87.

Liberty Energy (NYSE:LBRT - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.02). The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Liberty Energy had a net margin of 5.29% and a return on equity of 6.01%. The company's revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 earnings per share. On average, equities analysts predict that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Thursday, September 4th. Liberty Energy's payout ratio is presently 24.62%.

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.