New York State Common Retirement Fund raised its holdings in Liberty Energy Inc. (NYSE:LBRT - Free Report) by 57.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 370,258 shares of the company's stock after purchasing an additional 135,354 shares during the quarter. New York State Common Retirement Fund owned 0.23% of Liberty Energy worth $5,861,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its stake in shares of Liberty Energy by 10.8% in the fourth quarter. American Century Companies Inc. now owns 5,178,089 shares of the company's stock worth $102,992,000 after acquiring an additional 505,634 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Liberty Energy by 83.5% during the fourth quarter. Franklin Resources Inc. now owns 4,828,712 shares of the company's stock worth $96,043,000 after purchasing an additional 2,197,352 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Liberty Energy by 28.9% during the fourth 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. Northern Trust Corp lifted its holdings in Liberty Energy by 7.9% in the fourth quarter. Northern Trust Corp now owns 2,067,391 shares of the company's stock worth $41,120,000 after acquiring an additional 151,019 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Liberty Energy by 6.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,054,615 shares of the company's stock worth $32,566,000 after acquiring an additional 118,878 shares during the last quarter. Hedge funds and other institutional investors own 98.22% of the company's stock.
Liberty Energy Stock Performance
Shares of LBRT traded up $0.01 during trading hours on Tuesday, hitting $11.26. The company had a trading volume of 2,756,538 shares, compared to its average volume of 2,865,754. 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 $1.82 billion, a price-to-earnings ratio of 7.46 and a beta of 0.66. The business has a fifty day moving average of $12.20 and a 200-day moving average of $14.66. The company has a quick ratio of 0.91, a current ratio of 1.20 and a debt-to-equity ratio of 0.21.
Liberty Energy Announces Dividend
The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $0.32 annualized dividend and a dividend yield of 2.84%. Liberty Energy's dividend payout ratio is currently 21.19%.
Wall Street Analyst Weigh In
LBRT has been the topic of a number of research analyst reports. Morgan Stanley lowered their price objective on shares of Liberty Energy from $25.00 to $20.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Barclays reduced their target price on shares of Liberty Energy from $17.00 to $16.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company raised 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. The Goldman Sachs Group decreased their price objective on shares of Liberty Energy from $19.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Finally, Piper Sandler started coverage on shares of Liberty Energy in a research note on Tuesday, July 15th. They issued a "neutral" rating and a $14.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, three have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $15.65.
Check Out Our Latest Analysis on LBRT
About Liberty Energy
(
Free Report)
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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