Public Sector Pension Investment Board increased its position in Liberty Energy Inc. (NYSE:LBRT - Free Report) by 26.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 513,534 shares of the company's stock after acquiring an additional 106,352 shares during the quarter. Public Sector Pension Investment Board owned about 0.32% of Liberty Energy worth $8,129,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LBRT. Nuveen LLC bought a new position in shares of Liberty Energy in the first quarter worth approximately $7,743,000. Cooper Financial Group boosted its holdings in 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 buying an additional 1,145 shares during the period. Benjamin Edwards Inc. increased its stake in Liberty Energy by 11.8% in the 1st quarter. Benjamin Edwards Inc. now owns 47,462 shares of the company's stock worth $751,000 after buying an additional 4,991 shares in the last quarter. CenterBook Partners LP bought a new stake in Liberty Energy during the first quarter valued at about $1,316,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Liberty Energy by 3.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,507,658 shares of the company's stock valued at $39,696,000 after acquiring an additional 73,792 shares in the last quarter. Institutional investors own 98.22% of the company's stock.
Liberty Energy Trading Down 0.4%
NYSE:LBRT traded down $0.0450 during midday trading on Tuesday, hitting $10.8750. 964,681 shares of the company traded hands, compared to its average volume of 3,426,668. The firm has a market capitalization of $1.76 billion, a P/E ratio of 8.34 and a beta of 0.67. The firm's fifty day moving average is $12.10 and its 200-day moving average is $13.25. Liberty Energy Inc. has a 12-month low of $9.50 and a 12-month high of $23.58. 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 (NYSE:LBRT - Get Free Report) last posted its quarterly earnings data 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 net margin of 5.29% and a return on equity of 6.01%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm earned $0.64 EPS. The company's revenue was down 10.1% on a year-over-year basis. On average, sell-side analysts predict that Liberty Energy Inc. will post 0.58 EPS for the current year.
Liberty Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders 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 is presently 24.62%.
Wall Street Analyst Weigh In
Several analysts recently issued reports on LBRT shares. Citigroup cut their target price on Liberty Energy from $16.00 to $13.50 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Piper Sandler cut their price objective on shares of Liberty Energy from $14.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, August 14th. Wells Fargo & Company boosted 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. Wall Street Zen lowered shares of Liberty Energy from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Finally, Cowen reiterated a "hold" rating on shares of Liberty Energy in a report on Monday, April 21st. Three analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Liberty Energy currently has a consensus rating of "Moderate Buy" and an average target price of $15.05.
Read Our Latest Research Report on Liberty Energy
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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