New York State Common Retirement Fund boosted its position in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 57.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 370,258 shares of the company's stock after purchasing an additional 135,354 shares during the period. New York State Common Retirement Fund owned 0.23% of Liberty Energy worth $5,861,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in shares of Liberty Energy during the 4th quarter valued at about $203,000. Raymond James Financial Inc. bought a new position in Liberty Energy during the fourth quarter valued at approximately $6,792,000. HighTower Advisors LLC lifted its stake in Liberty Energy by 10.2% in the fourth quarter. HighTower Advisors LLC now owns 27,683 shares of the company's stock valued at $551,000 after acquiring an additional 2,568 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Liberty Energy by 15.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 23,359 shares of the company's stock worth $465,000 after acquiring an additional 3,058 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new position in shares of Liberty Energy during the 4th quarter worth $295,000. Hedge funds and other institutional investors own 98.22% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on LBRT shares. Stifel Nicolaus reduced their price objective on shares of Liberty Energy from $23.00 to $22.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Piper Sandler assumed coverage on Liberty Energy in a research note on Tuesday, July 15th. They set a "neutral" rating and a $14.00 price target for the company. The Goldman Sachs Group cut their price objective on Liberty Energy from $19.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. TD Cowen increased their price target on Liberty Energy from $10.00 to $13.00 and gave the company a "hold" rating in a report on Monday, April 21st. Finally, Cowen reissued a "hold" rating on shares of Liberty Energy in a research report on Monday, April 21st. Eight equities research analysts have rated the stock with a hold rating, three have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Liberty Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.65.
Read Our Latest Research Report on Liberty Energy
Liberty Energy Stock Performance
NYSE LBRT traded down $0.24 during midday trading on Thursday, hitting $13.01. The company had a trading volume of 6,724,285 shares, compared to its average volume of 3,654,830. The firm has a fifty day simple moving average of $12.18 and a two-hundred day simple moving average of $14.50. 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 quick ratio of 0.91, a current ratio of 1.20 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 8.62 and a beta of 0.66.
Liberty Energy (NYSE:LBRT - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.02). Liberty Energy had a return on equity of 10.30% and a net margin of 6.03%. The firm's revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period last year, the company earned $0.64 EPS. Equities analysts forecast that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.
Liberty Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors 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 dividend on an annualized basis and a dividend yield of 2.46%. Liberty Energy's payout ratio is 21.19%.
Liberty Energy Company Profile
(
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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