Harbor Capital Advisors Inc. Lowers Stock Position in Liberty Energy Inc. (NYSE:LBRT)

Harbor Capital Advisors Inc. reduced its position in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 48.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,106 shares of the company's stock after selling 40,117 shares during the period. Harbor Capital Advisors Inc.'s holdings in Liberty Energy were worth $667,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of LBRT. Franklin Resources Inc. raised its stake in Liberty Energy by 83.5% in the fourth quarter. Franklin Resources Inc. now owns 4,828,712 shares of the company's stock valued at $96,043,000 after buying an additional 2,197,352 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Liberty Energy in the 4th quarter valued at about $20,337,000. American Century Companies Inc. raised its position in shares of Liberty Energy by 10.8% during the 4th quarter. American Century Companies Inc. now owns 5,178,089 shares of the company's stock worth $102,992,000 after acquiring an additional 505,634 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Liberty Energy by 28.9% during 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 in the last quarter. Finally, Norges Bank purchased a new stake in Liberty Energy during the fourth quarter worth approximately $8,140,000. Institutional investors and hedge funds own 98.22% of the company's stock.

Analyst Ratings Changes

LBRT has been the topic of several recent analyst reports. The Goldman Sachs Group dropped their price target on shares of Liberty Energy from $19.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Cowen restated a "hold" rating on shares of Liberty Energy in a report on Monday, April 21st. JPMorgan Chase & Co. cut their price target on shares of Liberty Energy from $16.00 to $13.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Royal Bank Of Canada cut shares of Liberty Energy from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from $24.00 to $19.00 in a research report on Monday, March 24th. Finally, Citigroup decreased their price objective on shares of Liberty Energy from $16.00 to $13.50 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Eight research analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $17.23.

Liberty Energy Stock Performance

Liberty Energy stock traded up $0.17 during mid-day trading on Tuesday, reaching $13.56. 2,669,951 shares of the company were exchanged, compared to its average volume of 2,836,571. The firm's 50-day simple moving average is $12.04 and its two-hundred day simple moving average is $15.76. Liberty Energy Inc. has a twelve month low of $9.50 and a twelve month high of $24.43. The firm has a market cap of $2.20 billion, a PE ratio of 8.98 and a beta of 0.68. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.20.

Liberty Energy (NYSE:LBRT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. Liberty Energy had a return on equity of 10.30% and a net margin of 6.03%. The firm had revenue of $977.46 million during the quarter, compared to the consensus estimate of $960.64 million. During the same period last year, the company earned $0.48 earnings per share. Equities analysts predict that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Friday, June 6th. Liberty Energy's dividend payout ratio (DPR) is presently 21.19%.

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.