Russell Investments Group Ltd. Boosts Stock Holdings in Liberty Energy Inc. $LBRT

Key Points

• Russell Investments Group Ltd. increased its stake in Liberty Energy Inc. by 37.7% in the first quarter, acquiring an additional 63,461 shares for a total of 231,722 shares valued at approximately $3.67 million.
• Liberty Energy's stock has seen a 7.1% increase recently, with shares trading at $11.37, while the company also reported a Q2 revenue of $1.04 billion, slightly above analyst estimates.
• The company declared a quarterly dividend of $0.08 per share, representing an annualized dividend yield of 2.8%, payable on September 18th.

Russell Investments Group Ltd. raised its position in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 37.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 231,722 shares of the company's stock after acquiring an additional 63,461 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.14% of Liberty Energy worth $3,668,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Yousif Capital Management LLC increased its position in shares of Liberty Energy by 1.5% during the first quarter. Yousif Capital Management LLC now owns 62,536 shares of the company's stock worth $990,000 after purchasing an additional 914 shares in the last quarter. Cooper Financial Group boosted its stake in Liberty Energy by 10.9% during the 1st quarter. Cooper Financial Group now owns 11,641 shares of the company's stock worth $184,000 after purchasing an additional 1,145 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Liberty Energy by 45.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,465 shares of the company's stock worth $71,000 after purchasing an additional 1,392 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Liberty Energy by 1.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 90,110 shares of the company's stock worth $1,792,000 after buying an additional 1,703 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its position in shares of Liberty Energy by 4.9% in the fourth quarter. Benjamin Edwards Inc. now owns 42,471 shares of the company's stock valued at $845,000 after buying an additional 1,966 shares during the last quarter. Hedge funds and other institutional investors own 98.22% of the company's stock.

Liberty Energy Stock Up 7.1%

Shares of NYSE LBRT opened at $11.3740 on Friday. The company has a market capitalization of $1.84 billion, a P/E ratio of 8.75 and a beta of 0.67. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.16 and a quick ratio of 0.91. The company has a 50 day simple moving average of $11.91 and a 200-day simple moving average of $13.08. Liberty Energy Inc. has a 1 year low of $9.50 and a 1 year high of $23.58.

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

Liberty Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Thursday, September 4th. Liberty Energy's dividend payout ratio (DPR) is presently 24.62%.

Wall Street Analyst Weigh In

LBRT has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Liberty Energy from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Barclays decreased their target price on shares of Liberty Energy from $16.00 to $14.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 29th. Piper Sandler dropped their price target on Liberty Energy from $14.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, August 14th. JPMorgan Chase & Co. reduced their price objective on Liberty Energy from $16.00 to $13.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Finally, Stifel Nicolaus lowered their price objective 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's stock. According to MarketBeat.com, Liberty Energy currently has an average rating of "Moderate Buy" and a consensus price target of $15.05.

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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