Invesco Ltd. Has $15.54 Million Holdings in Liberty Energy Inc. $LBRT

Key Points

• Invesco Ltd. reduced its stake in Liberty Energy Inc. by 37.0%, now holding approximately 0.61% of the company after selling 577,343 shares in the first quarter.
• Despite reporting $1.04 billion in revenue for the quarter, Liberty Energy missed earnings estimates, posting $0.12 EPS against expectations of $0.14 EPS.
• Liberty Energy declared a quarterly dividend of $0.08 per share, resulting in an annual yield of 2.8% for investors.

Invesco Ltd. decreased its holdings in Liberty Energy Inc. (NYSE:LBRT - Free Report) by 37.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 981,605 shares of the company's stock after selling 577,343 shares during the quarter. Invesco Ltd. owned 0.61% of Liberty Energy worth $15,539,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Benjamin Edwards Inc. grew its holdings in shares of Liberty Energy by 11.8% in the 1st quarter. Benjamin Edwards Inc. now owns 47,462 shares of the company's stock worth $751,000 after purchasing an additional 4,991 shares during the last quarter. CenterBook Partners LP bought a new stake in shares of Liberty Energy in the 1st quarter worth about $1,316,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Liberty Energy by 3.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,507,658 shares of the company's stock worth $39,696,000 after purchasing an additional 73,792 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 1,128,491 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of 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 purchasing an additional 1,392 shares during the last quarter. Institutional investors own 98.22% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LBRT shares. JPMorgan Chase & Co. lowered their target price on shares of Liberty Energy from $16.00 to $13.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Piper Sandler lowered their target price on shares of Liberty Energy from $14.00 to $13.00 and set a "neutral" rating on the stock in a report on Thursday, August 14th. Wells Fargo & Company upped their target price on shares of Liberty Energy from $11.00 to $12.00 and gave the stock an "equal weight" rating in a report on Thursday, June 5th. Morgan Stanley decreased their price objective on shares of Liberty Energy from $25.00 to $20.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Finally, Wall Street Zen lowered shares of Liberty Energy from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Three analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, Liberty Energy has a consensus rating of "Moderate Buy" and a consensus price target of $15.05.

Liberty Energy Price Performance

NYSE:LBRT traded up $0.03 during mid-day trading on Thursday, reaching $11.31. 2,027,594 shares of the company were exchanged, compared to its average volume of 2,785,272. Liberty Energy Inc. has a 12 month low of $9.50 and a 12 month high of $23.58. The company has a fifty day moving average of $11.75 and a 200 day moving average of $12.95. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.83 billion, a PE ratio of 8.70 and a beta of 0.67.

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

Liberty Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Thursday, September 4th. Liberty Energy's dividend payout ratio (DPR) 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.