Allspring Global Investments Holdings LLC Buys 118,878 Shares of Liberty Energy Inc. (NYSE:LBRT)

Allspring Global Investments Holdings LLC increased its position in Liberty Energy Inc. (NYSE:LBRT - Free Report) by 6.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,054,615 shares of the company's stock after buying an additional 118,878 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.27% of Liberty Energy worth $32,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Proficio Capital Partners LLC bought a new stake in shares of Liberty Energy in the 4th quarter valued at about $203,000. Smartleaf Asset Management LLC increased its stake in Liberty Energy by 176.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,423 shares of the company's stock worth $67,000 after purchasing an additional 2,184 shares during the period. Bailard Inc. lifted its position in Liberty Energy by 12.9% in the fourth quarter. Bailard Inc. now owns 35,836 shares of the company's stock valued at $713,000 after purchasing an additional 4,100 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Liberty Energy by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,433,866 shares of the company's stock valued at $48,410,000 after purchasing an additional 196,619 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Liberty Energy in the fourth quarter worth approximately $6,792,000. Hedge funds and other institutional investors own 98.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on LBRT shares. Stifel Nicolaus lowered their price target on shares of Liberty Energy from $23.00 to $22.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. The Goldman Sachs Group lowered their price objective on shares of Liberty Energy from $19.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Morgan Stanley dropped their target price on shares of Liberty Energy from $25.00 to $20.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Citigroup cut their target price on Liberty Energy from $16.00 to $13.50 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lowered their price target on Liberty Energy from $16.00 to $13.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. 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 company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.23.

Liberty Energy Stock Down 0.1%

Shares of NYSE:LBRT traded down $0.02 during trading on Friday, hitting $12.24. The stock had a trading volume of 1,031,954 shares, compared to its average volume of 2,842,041. The company has a market capitalization of $1.98 billion, a PE ratio of 8.10 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. The firm's fifty day moving average is $12.17 and its 200 day moving average is $15.21. Liberty Energy Inc. has a 12 month low of $9.50 and a 12 month high of $24.43.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.01. Liberty Energy had a return on equity of 10.30% and a net margin of 6.03%. 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 earned $0.48 earnings per share. Analysts anticipate that Liberty Energy Inc. will post 0.58 EPS for the current fiscal year.

Liberty Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a dividend of $0.08 per share. The ex-dividend date was Friday, June 6th. This represents a $0.32 dividend on an annualized basis and a yield of 2.62%. Liberty Energy's dividend payout ratio (DPR) is currently 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.