CenterBook Partners LP Takes $1.32 Million Position in Liberty Energy Inc. (NYSE:LBRT)

Key Points

• CenterBook Partners LP acquired a new stake in Liberty Energy, purchasing 83,156 shares valued at approximately $1.32 million, which constitutes 0.05% of the company.
• Several institutional investors, including Principal Financial Group and GAMMA Investing LLC, also modified their positions in Liberty Energy during the first quarter, indicating increased interest in the company.
• Analyst ratings for Liberty Energy have shifted, with Barclays and Citigroup lowering their price targets, while the stock currently holds a consensus rating of "Moderate Buy" with an average price target of $15.15.

CenterBook Partners LP purchased a new stake in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 83,156 shares of the company's stock, valued at approximately $1,316,000. CenterBook Partners LP owned 0.05% of Liberty Energy as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. increased its position in shares of Liberty Energy by 1.7% during the 1st quarter. Principal Financial Group Inc. now owns 912,636 shares of the company's stock valued at $14,447,000 after purchasing an additional 15,596 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Liberty Energy during the 1st quarter valued at $761,000. Manning & Napier Advisors LLC acquired a new position in shares of Liberty Energy during the 1st quarter valued at $1,110,000. Allspring Global Investments Holdings LLC increased its position in shares of Liberty Energy by 6.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,054,615 shares of the company's stock valued at $32,566,000 after purchasing an additional 118,878 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Liberty Energy by 1,279.1% during the 1st quarter. GAMMA Investing LLC now owns 17,983 shares of the company's stock valued at $285,000 after purchasing an additional 16,679 shares during the period. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on LBRT shares. Barclays decreased their target price on Liberty Energy from $16.00 to $14.00 and set an "overweight" rating on the stock in a report on Tuesday, July 29th. Citigroup decreased their price target on Liberty Energy from $16.00 to $13.50 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley decreased their price target on Liberty Energy from $25.00 to $20.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Cowen reiterated a "hold" rating on shares of Liberty Energy in a research report on Monday, April 21st. Finally, Wall Street Zen lowered Liberty Energy from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $15.15.

Liberty Energy Price Performance

NYSE LBRT opened at $11.00 on Friday. The company has a 50 day simple moving average of $12.24 and a 200-day simple moving average of $13.83. 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 firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 8.46 and a beta of 0.67. Liberty Energy Inc. has a 52-week low of $9.50 and a 52-week high of $23.58.

Liberty Energy (NYSE:LBRT - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.02). The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. Liberty Energy had a net margin of 5.29% and a return on equity of 6.01%. The business's revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 EPS. Equities research analysts predict that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Thursday, September 4th. Liberty Energy's dividend payout ratio is 24.62%.

Liberty Energy Company 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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