Liberty Energy Inc. (NYSE:LBRT) Stock Position Lowered by LSV Asset Management

Key Points

• LSV Asset Management reduced its stake in Liberty Energy Inc. by 43.6%, selling 671,100 shares, leaving it with 868,800 shares worth approximately $13.75 million.
• Liberty Energy reported a miss on earnings per share at $0.12, falling short of the consensus estimate of $0.14, despite a revenue of $1.04 billion, which exceeded expectations.
• The company will pay a quarterly dividend of $0.08 per share on September 18th, reflecting an annualized dividend of $0.32 and a yield of 2.7%.

LSV Asset Management trimmed its stake in Liberty Energy Inc. (NYSE:LBRT - Free Report) by 43.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 868,800 shares of the company's stock after selling 671,100 shares during the period. LSV Asset Management owned approximately 0.54% of Liberty Energy worth $13,753,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Balyasny Asset Management L.P. purchased a new position in Liberty Energy during the 4th quarter worth $20,337,000. The Manufacturers Life Insurance Company grew its position in 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 purchasing an additional 480,957 shares during the last quarter. Norges Bank purchased a new position in Liberty Energy during the 4th quarter worth $8,140,000. Caxton Associates LP purchased a new position in Liberty Energy during the 4th quarter worth $7,570,000. Finally, Raymond James Financial Inc. purchased a new position in Liberty Energy during the 4th quarter worth $6,792,000. 98.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on LBRT. Cowen reissued a "hold" rating on shares of Liberty Energy in a research report on Monday, April 21st. Wells Fargo & Company lifted their target price on shares of Liberty Energy from $11.00 to $12.00 and gave the company an "equal weight" rating in a report on Thursday, June 5th. Piper Sandler assumed coverage on shares of Liberty Energy in a report on Tuesday, July 15th. They issued a "neutral" rating and a $14.00 target price on the stock. Morgan Stanley lowered their target price 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, 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. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $15.15.

Liberty Energy Price Performance

LBRT traded up $0.02 on Friday, reaching $11.04. The company had a trading volume of 1,399,446 shares, compared to its average volume of 3,476,749. The company has a fifty day moving average of $12.24 and a 200-day moving average of $13.83. The company has a market capitalization of $1.79 billion, a P/E ratio of 8.50 and a beta of 0.67. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.18. Liberty Energy Inc. has a one year low of $9.50 and a one year high of $23.58.

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

Liberty Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Thursday, September 4th. Liberty Energy's dividend payout ratio (DPR) is presently 24.62%.

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.