Bank of New York Mellon Corp trimmed its stake in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 17.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,796,052 shares of the company's stock after selling 386,235 shares during the quarter. Bank of New York Mellon Corp owned about 1.11% of Liberty Energy worth $28,431,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC lifted its holdings in shares of Liberty Energy by 257.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,197 shares of the company's stock valued at $47,000 after buying an additional 1,583 shares during the period. Lee Danner & Bass Inc. acquired a new stake in shares of Liberty Energy in the 4th quarter valued at approximately $99,000. Meeder Asset Management Inc. acquired a new stake in shares of Liberty Energy in the 4th quarter valued at approximately $120,000. Sowell Financial Services LLC acquired a new stake in shares of Liberty Energy in the 1st quarter valued at approximately $162,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Liberty Energy in the 4th quarter valued at approximately $195,000. 98.22% of the stock is owned by institutional investors and hedge funds.
Liberty Energy Stock Down 2.2%
Shares of LBRT traded down $0.26 during midday trading on Friday, reaching $11.34. 2,253,388 shares of the company were exchanged, compared to its average volume of 2,868,445. The stock has a 50-day moving average price of $12.20 and a 200-day moving average price of $14.70. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 7.51 and a beta of 0.66. Liberty Energy Inc. has a 1-year low of $9.50 and a 1-year high of $24.43. 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 issued its quarterly earnings data on Wednesday, April 16th. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates 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 previous year, the firm posted $0.48 earnings per share. Research analysts expect that Liberty Energy Inc. will post 0.58 earnings per share for the current year.
Liberty Energy Announces Dividend
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 paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Thursday, September 4th. Liberty Energy's dividend payout ratio (DPR) is 21.19%.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on LBRT shares. TD Cowen lifted their price objective on Liberty Energy from $10.00 to $13.00 and gave the stock a "hold" rating in a report on Monday, April 21st. Piper Sandler started coverage on Liberty Energy in a report on Tuesday, July 15th. They set a "neutral" rating and a $14.00 price objective for the company. Royal Bank Of Canada cut Liberty Energy from an "outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $24.00 to $19.00 in a report on Monday, March 24th. JPMorgan Chase & Co. dropped 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. Finally, Cowen reissued a "hold" rating on shares of Liberty Energy in a report on Monday, April 21st. Eight investment analysts have rated the stock with a hold rating, three have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Liberty Energy presently has a consensus rating of "Moderate Buy" and an average target price of $15.65.
Get Our Latest Research Report on LBRT
Liberty Energy Profile
(
Free Report)
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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