Liberty Energy Inc. $LBRT Shares Bought by Wesbanco Bank Inc.

Key Points

• Wesbanco Bank Inc. significantly increased its stake in Liberty Energy Inc. by 73.1% in the second quarter, owning 97,100 shares worth approximately $1.12 million.
• Liberty Energy's stock has an average rating of "Moderate Buy" with a target price of $15.05, reflecting recent analyst upgrades and downgrades.
• The company declared a quarterly dividend of $0.08 per share with a yield of 2.9%, payable to shareholders on September 18th.

Wesbanco Bank Inc. raised its holdings in Liberty Energy Inc. (NYSE:LBRT - Free Report) by 73.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 97,100 shares of the company's stock after acquiring an additional 41,000 shares during the period. Wesbanco Bank Inc. owned 0.06% of Liberty Energy worth $1,115,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LBRT. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Liberty Energy in the 1st quarter valued at $50,000. PNC Financial Services Group Inc. increased its stake in shares of Liberty Energy by 45.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,465 shares of the company's stock valued at $71,000 after acquiring an additional 1,392 shares during the last quarter. Pekin Hardy Strauss Inc. acquired a new position in shares of Liberty Energy during the 1st quarter valued at about $161,000. Sowell Financial Services LLC acquired a new position in shares of Liberty Energy during the 1st quarter valued at about $162,000. Finally, Cooper Financial Group increased its stake in shares of Liberty Energy by 10.9% during the 1st quarter. Cooper Financial Group now owns 11,641 shares of the company's stock valued at $184,000 after acquiring an additional 1,145 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on LBRT shares. Wall Street Zen raised shares of Liberty Energy from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. JPMorgan Chase & Co. dropped their price objective on shares of Liberty Energy from $16.00 to $13.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Wells Fargo & Company upped their price objective on shares of Liberty Energy from $11.00 to $12.00 and gave the company an "equal weight" rating in a research note on Thursday, June 5th. Piper Sandler dropped their price objective on shares of Liberty Energy from $14.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, August 14th. Finally, Stifel Nicolaus decreased their target price on Liberty Energy from $20.00 to $19.00 and set a "buy" rating for the company in a report on Monday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, Liberty Energy has an average rating of "Moderate Buy" and an average target price of $15.05.

Liberty Energy Stock Up 1.9%

Shares of NYSE:LBRT opened at $10.89 on Tuesday. 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. The stock has a market capitalization of $1.76 billion, a P/E ratio of 8.38 and a beta of 0.63. The stock has a 50-day simple moving average of $11.45 and a 200-day simple moving average of $12.30.

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 company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Liberty Energy had a return on equity of 6.01% and a net margin of 5.29%.The business's revenue was down 10.1% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. Equities analysts forecast that Liberty Energy Inc. will post 0.58 earnings per share for the current year.

Liberty Energy Announces Dividend

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

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.

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