Canoe Financial LP Trims Stock Position in Liberty Energy Inc. (NYSE:LBRT)

Canoe Financial LP reduced its stake in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 84.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 381,139 shares of the company's stock after selling 2,067,429 shares during the quarter. Canoe Financial LP owned approximately 0.24% of Liberty Energy worth $6,033,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LBRT. Blue Trust Inc. grew its position in shares of Liberty Energy by 604.9% in the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the company's stock worth $47,000 after buying an additional 2,111 shares during the period. CIBC Private Wealth Group LLC grew its position 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 worth $47,000 after buying an additional 1,583 shares during the period. Smartleaf Asset Management LLC grew its position in shares of 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 buying an additional 2,184 shares during the period. Lee Danner & Bass Inc. purchased a new stake in shares of Liberty Energy in the 4th quarter worth about $99,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Liberty Energy in the 4th quarter worth about $120,000. 98.22% of the stock is owned by hedge funds and other institutional investors.

Liberty Energy Trading Down 1.0%

NYSE:LBRT opened at $13.01 on Friday. Liberty Energy Inc. has a one year low of $9.50 and a one year high of $24.43. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.20. The firm has a market cap of $2.11 billion, a P/E ratio of 8.61 and a beta of 0.68. The firm has a 50-day simple moving average of $12.16 and a 200-day simple moving average of $15.66.

Liberty Energy (NYSE:LBRT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. Liberty Energy had a net margin of 6.03% and a return on equity of 10.30%. The business had revenue of $977.46 million during the quarter, compared to analyst estimates of $960.64 million. During the same quarter in the previous year, the business posted $0.48 EPS. Equities 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. Stockholders of record on Friday, June 6th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.32 annualized dividend and a dividend yield of 2.46%. Liberty Energy's dividend payout ratio is currently 21.19%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LBRT. JPMorgan Chase & Co. reduced their target price on shares of Liberty Energy from $16.00 to $13.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Stifel Nicolaus lowered their target price on shares of Liberty Energy from $23.00 to $22.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Barclays lowered their price objective on shares of Liberty Energy from $17.00 to $16.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Royal Bank Of Canada cut shares of Liberty Energy from an "outperform" rating to a "sector perform" rating and decreased their target price for the stock from $24.00 to $19.00 in a research note on Monday, March 24th. Finally, Wells Fargo & Company raised their target price on shares of Liberty Energy from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 5th. Eight analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Liberty Energy has a consensus rating of "Moderate Buy" and a consensus price target of $17.23.

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.

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