Manning & Napier Advisors LLC Buys New Position in Liberty Energy Inc. (NYSE:LBRT)

Manning & Napier Advisors LLC purchased a new position in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 70,094 shares of the company's stock, valued at approximately $1,110,000.

A number of other hedge funds have also modified their holdings of the business. Well Done LLC boosted its holdings in Liberty Energy by 35.5% during the 1st quarter. Well Done LLC now owns 21,725 shares of the company's stock valued at $344,000 after acquiring an additional 5,697 shares during the period. CWA Asset Management Group LLC raised its position in shares of Liberty Energy by 38.3% during the 1st quarter. CWA Asset Management Group LLC now owns 32,196 shares of the company's stock worth $510,000 after acquiring an additional 8,909 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Liberty Energy during the 1st quarter worth about $162,000. Wealth Enhancement Advisory Services LLC acquired a new position in Liberty Energy during the first quarter worth approximately $761,000. Finally, Salem Investment Counselors Inc. acquired a new position in Liberty Energy during the first quarter worth approximately $417,000. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LBRT has been the topic of several analyst reports. Morgan Stanley lowered their target price on Liberty Energy from $25.00 to $20.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Wells Fargo & Company lifted their price target on Liberty Energy from $11.00 to $12.00 and gave the company an "equal weight" rating in a research note on Thursday, June 5th. Stifel Nicolaus cut their price target on Liberty Energy from $23.00 to $22.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. TD Cowen lifted their price target on Liberty Energy from $10.00 to $13.00 and gave the stock a "hold" rating in a research note on Monday, April 21st. Finally, Cowen reissued a "hold" rating on shares of Liberty Energy in a research note on Monday, April 21st. Eight equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Liberty Energy has a consensus rating of "Moderate Buy" and an average target price of $17.23.

Liberty Energy Trading Up 0.2%

Shares of NYSE:LBRT traded up $0.02 during trading on Tuesday, reaching $12.03. 2,858,818 shares of the stock were exchanged, compared to its average volume of 2,828,045. 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 Inc. has a 12-month low of $9.50 and a 12-month high of $24.43. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 7.97 and a beta of 0.68. The firm's 50-day moving average price is $12.19 and its 200 day moving average price is $15.56.

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

Liberty Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Friday, June 6th. Liberty Energy's dividend payout ratio is presently 21.19%.

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.