Deutsche Bank AG Cuts Position in Liberty Energy Inc. $LBRT

Key Points

• Deutsche Bank AG reduced its stake in Liberty Energy by 35.6% during the first quarter, selling 453,236 shares, and now holds 0.51% of the company valued at approximately $12.98 million.
• Liberty Energy's stock price decreased by 2.4%, trading at $10.97, with a year high of $23.58 and a year low of $9.50.
• The company reported earnings per share of $0.12 for the last quarter, missing estimates by $0.02, with revenue of $1.04 billion down 10.1% year-over-year.

Deutsche Bank AG cut its holdings in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 35.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 819,916 shares of the company's stock after selling 453,236 shares during the period. Deutsche Bank AG owned approximately 0.51% of Liberty Energy worth $12,979,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in shares of Liberty Energy by 3.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,507,658 shares of the company's stock valued at $39,696,000 after acquiring an additional 73,792 shares during the period. Vanguard Group Inc. boosted its holdings 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 buying an additional 1,128,491 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Liberty Energy by 45.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,465 shares of the company's stock worth $71,000 after buying an additional 1,392 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in Liberty Energy in the 1st quarter worth about $432,000. Finally, Natixis Advisors LLC boosted its holdings in Liberty Energy by 51.9% in the 1st quarter. Natixis Advisors LLC now owns 28,260 shares of the company's stock worth $447,000 after buying an additional 9,657 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LBRT has been the topic of several research analyst reports. 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. Wells Fargo & Company lifted their price objective on Liberty Energy from $11.00 to $12.00 and gave the stock an "equal weight" rating in a report on Thursday, June 5th. Cowen reiterated a "hold" rating on shares of Liberty Energy in a report on Monday, April 21st. Piper Sandler lowered their price objective on Liberty Energy from $14.00 to $13.00 and set a "neutral" rating on the stock in a report on Thursday, August 14th. Finally, Wall Street Zen lowered shares of Liberty Energy from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $15.05.

Liberty Energy Trading Up 0.4%

Shares of LBRT stock traded up $0.0450 during trading on Tuesday, hitting $10.9650. 718,176 shares of the stock traded hands, compared to its average volume of 3,425,197. The firm has a market capitalization of $1.78 billion, a P/E ratio of 8.43 and a beta of 0.67. 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's fifty day moving average price is $12.10 and its 200-day moving average price is $13.25. 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 released its quarterly earnings results on Thursday, July 24th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.02). The firm had revenue of $1.04 billion for 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 firm's quarterly revenue was down 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. As a group, research analysts forecast that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given 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 of this dividend is Thursday, September 4th. Liberty Energy's payout ratio is presently 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.