Ritholtz Wealth Management Lowers Stock Position in Liberty Energy Inc. (NYSE:LBRT)

Ritholtz Wealth Management decreased its holdings in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 54.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,618 shares of the company's stock after selling 58,116 shares during the period. Ritholtz Wealth Management's holdings in Liberty Energy were worth $770,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Franklin Resources Inc. boosted its stake in shares of Liberty Energy by 83.5% in the fourth quarter. Franklin Resources Inc. now owns 4,828,712 shares of the company's stock valued at $96,043,000 after buying an additional 2,197,352 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Liberty Energy during the 4th quarter worth $20,337,000. American Century Companies Inc. boosted its position in shares of Liberty Energy by 10.8% during the 4th quarter. American Century Companies Inc. now owns 5,178,089 shares of the company's stock worth $102,992,000 after purchasing an additional 505,634 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Liberty Energy by 28.9% during the 4th 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 period. Finally, Norges Bank purchased a new position in shares of Liberty Energy in the 4th quarter valued at about $8,140,000. 98.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on LBRT. Barclays decreased their price objective on shares of Liberty Energy from $17.00 to $16.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley lowered their price target on Liberty Energy from $25.00 to $20.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Cowen reaffirmed a "hold" rating on shares of Liberty Energy in a research note on Monday, April 21st. Citigroup reduced their price objective on Liberty Energy from $16.00 to $13.50 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Finally, TD Cowen upped their target price on Liberty Energy from $10.00 to $13.00 and gave the company a "hold" rating in a report on Monday, April 21st. Eight analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $17.23.

Liberty Energy Stock Down 2.7%

LBRT opened at $13.15 on Thursday. The firm has a market cap of $2.13 billion, a P/E ratio of 8.71 and a beta of 0.68. The business's fifty day simple moving average is $12.07 and its 200 day simple moving average is $15.74. Liberty Energy Inc. has a 52 week low of $9.50 and a 52 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.

Liberty Energy (NYSE:LBRT - Get Free Report) last released its earnings results on Wednesday, April 16th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The company had revenue of $977.46 million for the quarter, compared to analyst estimates of $960.64 million. Liberty Energy had a net margin of 6.03% and a return on equity of 10.30%. During the same period in the prior year, the firm earned $0.48 EPS. As a group, equities research analysts anticipate that Liberty Energy Inc. will post 0.58 EPS for the current fiscal year.

Liberty Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.08 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.32 annualized dividend and a yield of 2.43%. Liberty Energy's payout ratio is currently 21.19%.

Liberty Energy Company 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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