Envestnet Asset Management Inc. grew its stake in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 16.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 742,938 shares of the company's stock after acquiring an additional 104,943 shares during the period. Envestnet Asset Management Inc. owned about 0.46% of Liberty Energy worth $11,761,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of LBRT. Xponance Inc. increased its stake in shares of Liberty Energy by 7.0% in the fourth quarter. Xponance Inc. now owns 11,263 shares of the company's stock worth $224,000 after acquiring an additional 733 shares during the last quarter. Yousif Capital Management LLC increased its stake in shares of Liberty Energy by 1.5% in the first quarter. Yousif Capital Management LLC now owns 62,536 shares of the company's stock worth $990,000 after acquiring an additional 914 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake 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 purchasing an additional 1,583 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Liberty Energy by 1.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 90,110 shares of the company's stock valued at $1,792,000 after purchasing an additional 1,703 shares during the last quarter. Finally, Benjamin Edwards Inc. lifted its stake in shares of Liberty Energy by 4.9% in the 4th quarter. Benjamin Edwards Inc. now owns 42,471 shares of the company's stock valued at $845,000 after purchasing an additional 1,966 shares during the last quarter. Institutional investors and hedge funds own 98.22% of the company's stock.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. Morgan Stanley decreased their target price on Liberty Energy from $25.00 to $20.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Barclays decreased their target price on Liberty Energy from $17.00 to $16.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Piper Sandler assumed coverage on Liberty Energy in a research report on Tuesday, July 15th. They set a "neutral" rating and a $14.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on Liberty Energy from $16.00 to $13.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Finally, TD Cowen lifted their target price on Liberty Energy from $10.00 to $13.00 and gave the stock a "hold" rating in a research report on Monday, April 21st. Eight research analysts have rated the stock with a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Liberty Energy presently has a consensus rating of "Moderate Buy" and an average price target of $15.65.
Read Our Latest Analysis on LBRT
Liberty Energy Trading Up 17.7%
Shares of LBRT traded up $1.99 during trading hours on Wednesday, reaching $13.24. The stock had a trading volume of 17,611,125 shares, compared to its average volume of 2,926,133. The company has a quick ratio of 0.91, a current ratio of 1.20 and a debt-to-equity ratio of 0.21. Liberty Energy Inc. has a 52 week low of $9.50 and a 52 week high of $24.43. The firm has a 50-day moving average of $12.15 and a 200 day moving average of $14.57. The company has a market cap of $2.14 billion, a P/E ratio of 8.77 and a beta of 0.66.
Liberty Energy Dividend Announcement
The business also recently disclosed 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 2.42%. The ex-dividend date is Thursday, September 4th. Liberty Energy's dividend payout ratio is 21.19%.
About Liberty Energy
(
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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