Alpha Wealth Funds LLC Acquires Shares of 17,369 Liberty Energy Inc. $LBRT

Key Points

• Alpha Wealth Funds LLC acquired 17,369 shares of Liberty Energy Inc., valued at approximately $202,000, signaling institutional investment interest in the company.
• Liberty Energy has announced a quarterly dividend of $0.09, increasing from its previous dividend of $0.08, with a yield of 2.3%.
• The company's latest earnings report showed a loss of ($0.06) per share, missing expectations, with a revenue decline of 16.8% compared to the same quarter last year.

Alpha Wealth Funds LLC acquired a new stake in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,369 shares of the company's stock, valued at approximately $202,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Apollon Wealth Management LLC raised its stake in Liberty Energy by 0.7% during the second quarter. Apollon Wealth Management LLC now owns 126,088 shares of the company's stock valued at $1,447,000 after buying an additional 829 shares in the last quarter. Cooper Financial Group raised its stake in Liberty Energy by 10.9% during the first quarter. Cooper Financial Group now owns 11,641 shares of the company's stock valued at $184,000 after buying an additional 1,145 shares in the last quarter. Yousif Capital Management LLC raised its stake in Liberty Energy by 1.9% during the second quarter. Yousif Capital Management LLC now owns 63,748 shares of the company's stock valued at $732,000 after buying an additional 1,212 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Liberty Energy by 45.3% during the first quarter. PNC Financial Services Group Inc. now owns 4,465 shares of the company's stock valued at $71,000 after buying an additional 1,392 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its stake in Liberty Energy by 16.3% during the second quarter. Stratos Wealth Partners LTD. now owns 14,887 shares of the company's stock valued at $171,000 after buying an additional 2,087 shares in the last quarter. Institutional investors and hedge funds own 98.22% of the company's stock.

Liberty Energy Stock Up 28.7%

LBRT opened at $15.36 on Friday. Liberty Energy Inc. has a 12 month low of $9.50 and a 12 month high of $23.58. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.16 and a quick ratio of 0.91. The stock has a market cap of $2.49 billion, a P/E ratio of 13.72 and a beta of 0.74. The stock's 50 day moving average price is $11.61 and its 200 day moving average price is $11.86.

Liberty Energy (NYSE:LBRT - Get Free Report) last posted its earnings results on Thursday, October 16th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.05). Liberty Energy had a net margin of 4.76% and a return on equity of 1.71%. The business had revenue of $947.40 million during the quarter, compared to analyst estimates of $967.05 million. During the same quarter in the prior year, the business earned $0.45 earnings per share. The firm's revenue was down 16.8% compared to the same quarter last year. As a group, research analysts predict that Liberty Energy Inc. will post 0.58 earnings per share for the current year.

Liberty Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a $0.09 dividend. The ex-dividend date is Thursday, December 4th. This represents a $0.36 annualized dividend and a yield of 2.3%. This is an increase from Liberty Energy's previous quarterly dividend of $0.08. Liberty Energy's payout ratio is 24.62%.

Analysts Set New Price Targets

Several brokerages have issued reports on LBRT. Piper Sandler cut their price objective on Liberty Energy from $14.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Wall Street Zen cut Liberty Energy from a "hold" rating to a "sell" rating in a research report on Sunday. Stifel Nicolaus dropped their price target on Liberty Energy from $20.00 to $19.00 and set a "buy" rating on the stock in a research report on Monday, July 28th. Barclays reiterated an "equal weight" rating and set a $12.00 price target (down from $14.00) on shares of Liberty Energy in a research report on Monday, October 13th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Liberty Energy in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $14.85.

About Liberty Energy

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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