Liberty Energy Inc. (NYSE:LBRT) Holdings Lifted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its position in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 6.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,054,615 shares of the company's stock after purchasing an additional 118,878 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.27% of Liberty Energy worth $32,566,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Illinois Municipal Retirement Fund grew its stake in Liberty Energy by 15.5% during 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 in the last quarter. Bessemer Group Inc. increased its stake in shares of Liberty Energy by 4.8% in 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. Manning & Napier Advisors LLC acquired a new stake in Liberty Energy in the first quarter valued at $1,110,000. Well Done LLC boosted its stake in Liberty Energy by 35.5% during the 1st quarter. Well Done LLC now owns 21,725 shares of the company's stock valued at $344,000 after acquiring an additional 5,697 shares during the last quarter. Finally, CWA Asset Management Group LLC boosted its stake in Liberty Energy by 38.3% during the 1st quarter. CWA Asset Management Group LLC now owns 32,196 shares of the company's stock valued at $510,000 after acquiring an additional 8,909 shares during the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LBRT has been the topic of a number of recent research reports. Barclays reduced their price target on shares of Liberty Energy from $17.00 to $16.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company raised their target price on Liberty Energy from $11.00 to $12.00 and gave the company an "equal weight" rating in a research note on Thursday, June 5th. Royal Bank Of Canada downgraded shares of Liberty Energy from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from $24.00 to $19.00 in a report on Monday, March 24th. JPMorgan Chase & Co. dropped their price objective on shares of Liberty Energy from $16.00 to $13.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Finally, TD Cowen boosted their target price on shares of Liberty Energy from $10.00 to $13.00 and gave the company a "hold" rating in a research note on Monday, April 21st. Eight equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $17.23.

Liberty Energy Price Performance

Shares of NYSE LBRT traded up $0.17 during midday trading on Wednesday, reaching $12.10. The company's stock had a trading volume of 469,245 shares, compared to its average volume of 2,835,100. Liberty Energy Inc. has a one year low of $9.50 and a one year high of $24.43. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 8.00 and a beta of 0.66. The company has a 50 day moving average price of $12.17 and a 200 day moving average price of $15.32. The company has a current ratio of 1.20, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.

Liberty Energy (NYSE:LBRT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The company had revenue of $977.46 million for the quarter, compared to analysts' expectations of $960.64 million. Liberty Energy had a return on equity of 10.30% and a net margin of 6.03%. During the same quarter in the prior year, the company earned $0.48 earnings per share. On average, equities research analysts expect that Liberty Energy Inc. will post 0.58 EPS for the current year.

Liberty Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.65%. 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.