Charles Schwab Investment Management Inc. Grows Position in Liberty Energy Inc. $LBRT

Charles Schwab Investment Management Inc. boosted its holdings in Liberty Energy Inc. (NYSE:LBRT - Free Report) by 3.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,507,658 shares of the company's stock after acquiring an additional 73,792 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.55% of Liberty Energy worth $39,696,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Liberty Energy by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 18,443,909 shares of the company's stock worth $291,967,000 after acquiring an additional 1,128,491 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Liberty Energy by 28.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,147,698 shares of the company's stock worth $42,718,000 after acquiring an additional 480,957 shares during the last quarter. Northern Trust Corp increased its stake in Liberty Energy by 7.9% in the 4th quarter. Northern Trust Corp now owns 2,067,391 shares of the company's stock worth $41,120,000 after acquiring an additional 151,019 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Liberty Energy by 6.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,054,615 shares of the company's stock worth $32,566,000 after acquiring an additional 118,878 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Liberty Energy by 1.6% in the 4th quarter. Bank of America Corp DE now owns 1,147,464 shares of the company's stock worth $22,823,000 after acquiring an additional 17,676 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LBRT. Stifel Nicolaus decreased their target price on Liberty Energy from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Monday, July 28th. JPMorgan Chase & Co. cut their price objective on Liberty Energy from $16.00 to $13.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Morgan Stanley cut their price objective on Liberty Energy from $25.00 to $20.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Piper Sandler cut their price objective on Liberty Energy from $14.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, August 14th. Finally, Barclays cut their price objective on Liberty Energy from $16.00 to $14.00 and set an "overweight" rating for the company in a report on Tuesday, July 29th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Liberty Energy presently has an average rating of "Moderate Buy" and an average target price of $15.05.

Liberty Energy Trading Up 5.4%

LBRT stock traded up $0.5730 during trading on Friday, hitting $11.1930. 803,020 shares of the company traded hands, compared to its average volume of 3,406,258. The company has a 50-day moving average of $11.96 and a 200-day moving average of $13.16. The firm has a market capitalization of $1.81 billion, a PE ratio of 8.58 and a beta of 0.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.91 and a current ratio of 1.16. Liberty Energy Inc. has a 1 year low of $9.50 and a 1 year high of $23.58.

Liberty Energy (NYSE:LBRT - Get Free Report) last released its quarterly 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 business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Liberty Energy had a net margin of 5.29% and a return on equity of 6.01%. The company's revenue for the quarter was down 10.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 EPS. Analysts predict that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

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

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.