Bessemer Group Inc. Increases Holdings in Liberty Energy Inc. (NYSE:LBRT)

Bessemer Group Inc. boosted its holdings in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 607,431 shares of the company's stock after buying an additional 27,649 shares during the quarter. Bessemer Group Inc. owned approximately 0.38% of Liberty Energy worth $9,615,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LBRT. Blue Trust Inc. increased its holdings in Liberty Energy by 604.9% in the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the company's stock worth $47,000 after acquiring an additional 2,111 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of Liberty Energy by 6.9% in the fourth quarter. Sanctuary Advisors LLC now owns 33,216 shares of the company's stock worth $637,000 after purchasing an additional 2,139 shares during the period. CIBC Asset Management Inc purchased a new stake in shares of Liberty Energy in the fourth quarter worth $200,000. New York State Common Retirement Fund raised its position in shares of Liberty Energy by 369.9% during the 4th quarter. New York State Common Retirement Fund now owns 234,904 shares of the company's stock valued at $4,672,000 after purchasing an additional 184,918 shares during the period. Finally, Ieq Capital LLC purchased a new position in shares of Liberty Energy during the 4th quarter valued at $411,000. 98.22% of the stock is owned by hedge funds and other institutional investors.

Liberty Energy Stock Down 0.9%

NYSE LBRT traded down $0.10 during trading on Monday, hitting $11.51. The company's stock had a trading volume of 2,595,755 shares, compared to its average volume of 2,842,206. Liberty Energy Inc. has a fifty-two week low of $9.50 and a fifty-two week high of $24.43. The company has a market cap of $1.86 billion, a PE ratio of 7.62 and a beta of 0.68. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 0.91. The business's 50 day simple moving average is $12.17 and its 200-day simple moving average is $15.34.

Liberty Energy (NYSE:LBRT - Get Free Report) last released its earnings results on Wednesday, April 16th. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.01. The company had revenue of $977.46 million during the quarter, compared to analysts' expectations of $960.64 million. Liberty Energy had a net margin of 6.03% and a return on equity of 10.30%. During the same period last year, the business earned $0.48 EPS. On average, equities analysts anticipate that Liberty Energy Inc. will post 0.58 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, June 6th. This represents a $0.32 annualized dividend and a dividend yield of 2.78%. Liberty Energy's payout ratio is currently 21.19%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LBRT. Royal Bank Of Canada cut Liberty Energy from an "outperform" rating to a "sector perform" rating and decreased their price target for the company from $24.00 to $19.00 in a report on Monday, March 24th. JPMorgan Chase & Co. lowered their target price on Liberty Energy from $16.00 to $13.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. 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 report on Tuesday, April 22nd. 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 report on Friday, May 16th. Finally, Cowen reissued a "hold" rating on shares of Liberty Energy in a research report on Monday, April 21st. Eight research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $17.23.

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.