26,335 Shares in Liberty Energy Inc. (NYSE:LBRT) Purchased by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. purchased a new position in Liberty Energy Inc. (NYSE:LBRT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 26,335 shares of the company's stock, valued at approximately $417,000.

Several other institutional investors have also added to or reduced their stakes in the business. American Century Companies Inc. raised its stake in Liberty Energy by 10.8% in the 4th quarter. American Century Companies Inc. now owns 5,178,089 shares of the company's stock worth $102,992,000 after acquiring an additional 505,634 shares during the last quarter. Franklin Resources Inc. increased its holdings 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 purchasing an additional 2,197,352 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Liberty Energy by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,433,866 shares of the company's stock worth $48,410,000 after purchasing an additional 196,619 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Liberty Energy by 28.9% during the fourth 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, Van ECK Associates Corp boosted its position in Liberty Energy by 8.1% in the fourth quarter. Van ECK Associates Corp now owns 2,082,239 shares of the company's stock valued at $41,416,000 after buying an additional 156,006 shares during the last quarter. Institutional investors and hedge funds own 98.22% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Citigroup reduced their price target on shares of Liberty Energy from $16.00 to $13.50 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Stifel Nicolaus reduced their target price on shares of Liberty Energy from $23.00 to $22.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Morgan Stanley lowered their price target on shares of Liberty Energy from $25.00 to $20.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. TD Cowen increased their price target on Liberty Energy from $10.00 to $13.00 and gave the stock a "hold" rating in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. reduced their price objective on Liberty Energy from $16.00 to $13.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Eight research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Liberty Energy has an average rating of "Moderate Buy" and an average target price of $17.23.

Liberty Energy Price Performance

NYSE LBRT traded up $0.17 during trading hours on Tuesday, reaching $13.56. The company's stock had a trading volume of 2,669,951 shares, compared to its average volume of 2,836,571. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 8.98 and a beta of 0.68. The company's 50-day moving average is $12.04 and its two-hundred day moving average is $15.76. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 0.91. Liberty Energy Inc. has a 1-year low of $9.50 and a 1-year high of $24.43.

Liberty Energy (NYSE:LBRT - Get Free Report) last announced its earnings results on Wednesday, April 16th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. Liberty Energy had a return on equity of 10.30% and a net margin of 6.03%. The business had revenue of $977.46 million during the quarter, compared to the consensus estimate of $960.64 million. During the same period in the prior year, the company posted $0.48 EPS. On average, equities analysts predict that Liberty Energy Inc. will post 0.58 EPS for the current year.

Liberty Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Friday, June 6th. Liberty Energy's dividend payout ratio is presently 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.