Palogic Value Management L.P. Raises Stake in Liberty Energy Inc. $LBRT

Key Points

• Palogic Value Management L.P. increased its stake in Liberty Energy by 54.2%, owning approximately 0.07% of the company valued at $1.83 million following the acquisition of 40,644 additional shares.
• Liberty Energy's stock performance showed variability, with recent price targets set by analysts ranging from a low of $11.00 to a high of $20.00, with an average target of $15.05.
• The firm announced a quarterly dividend of $0.08 per share, representing a yield of 3.2%, with a scheduled payout on September 18th.

Palogic Value Management L.P. boosted its holdings in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 54.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 115,644 shares of the company's stock after purchasing an additional 40,644 shares during the period. Palogic Value Management L.P. owned approximately 0.07% of Liberty Energy worth $1,831,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of LBRT. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Liberty Energy in the first quarter valued at approximately $50,000. PNC Financial Services Group Inc. grew its position in Liberty Energy by 45.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,465 shares of the company's stock valued at $71,000 after buying an additional 1,392 shares during the last quarter. Pekin Hardy Strauss Inc. acquired a new position in Liberty Energy in the 1st quarter valued at $161,000. Sowell Financial Services LLC purchased a new position in Liberty Energy during the 1st quarter worth $162,000. Finally, Cooper Financial Group lifted its stake in shares of Liberty Energy by 10.9% in the 1st quarter. Cooper Financial Group now owns 11,641 shares of the company's stock worth $184,000 after acquiring an additional 1,145 shares during the period. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LBRT. 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. Wall Street Zen raised Liberty Energy from a "sell" rating to a "hold" rating in a report on Friday. Wells Fargo & Company boosted their target price on Liberty Energy from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 5th. Barclays cut their target price on Liberty Energy from $16.00 to $14.00 and set an "overweight" rating for the company in a research note on Tuesday, July 29th. Finally, Stifel Nicolaus decreased their price target on Liberty Energy from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Monday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $15.05.

Liberty Energy Stock Performance

Shares of LBRT stock opened at $10.15 on Tuesday. The stock has a fifty day moving average price of $11.59 and a 200 day moving average price of $12.54. The stock has a market cap of $1.64 billion, a PE ratio of 7.80 and a beta of 0.63. Liberty Energy Inc. has a 1 year low of $9.50 and a 1 year high of $23.58. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.91 and a current ratio of 1.16.

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

Liberty Energy Dividend Announcement

The firm 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 dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 3.2%. The ex-dividend date is Thursday, September 4th. Liberty Energy's dividend payout ratio (DPR) is 24.62%.

Liberty Energy Profile

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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