Strs Ohio Takes Position in Liberty Energy Inc. $LBRT

Key Points

• Strs Ohio has taken a new position in Liberty Energy Inc., purchasing approximately 59,600 shares valued at around $943,000 during the first quarter.
• Liberty Energy recently declared a quarterly dividend of $0.08 per share, resulting in an annualized yield of 2.9%.
• The company's Q2 earnings report showed a net margin of 5.29% and a revenue of $1.04 billion, which was below analyst expectations despite a decline from the previous year.

Strs Ohio bought a new stake in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 59,600 shares of the company's stock, valued at approximately $943,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Intech Investment Management LLC boosted its holdings in Liberty Energy by 22.0% in the first quarter. Intech Investment Management LLC now owns 81,446 shares of the company's stock valued at $1,289,000 after acquiring an additional 14,663 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Liberty Energy by 0.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 868,978 shares of the company's stock valued at $13,756,000 after purchasing an additional 4,955 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Liberty Energy by 1,992.2% during the first quarter. NewEdge Advisors LLC now owns 12,030 shares of the company's stock valued at $190,000 after buying an additional 11,455 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Liberty Energy by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,205 shares of the company's stock worth $1,491,000 after buying an additional 4,095 shares in the last quarter. Finally, Integrated Wealth Concepts LLC lifted its holdings in Liberty Energy by 168.7% in the first quarter. Integrated Wealth Concepts LLC now owns 57,782 shares of the company's stock worth $915,000 after buying an additional 36,279 shares during the period. Hedge funds and other institutional investors own 98.22% of the company's stock.

Analyst Upgrades and Downgrades

LBRT has been the subject of several research reports. JPMorgan Chase & Co. decreased their target price on Liberty Energy from $16.00 to $13.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Piper Sandler decreased their price objective on Liberty Energy from $14.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, August 14th. Stifel Nicolaus dropped their target price on shares of Liberty Energy from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Monday, July 28th. Barclays reduced 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 report on Tuesday, July 29th. Finally, Wells Fargo & Company increased their price target on shares of Liberty Energy from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 5th. Three research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Liberty Energy has an average rating of "Moderate Buy" and a consensus target price of $15.05.

Liberty Energy Stock Up 6.8%

Shares of LBRT traded up $0.75 on Monday, hitting $11.70. 4,969,015 shares of the stock traded hands, compared to its average volume of 3,880,797. The company has a market capitalization of $1.89 billion, a PE ratio of 9.00 and a beta of 0.63. Liberty Energy Inc. has a one year low of $9.50 and a one 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. The business has a 50 day simple moving average of $11.32 and a 200 day simple moving average of $12.15.

Liberty Energy (NYSE:LBRT - Get Free Report) last posted its earnings results 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 the consensus estimate of $1.01 billion. Liberty Energy had a return on equity of 6.01% and a net margin of 5.29%.The firm's revenue for the quarter was down 10.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 EPS. As a group, equities analysts forecast that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, September 4th. This represents a $0.32 annualized dividend and a yield of 2.7%. Liberty Energy's dividend payout ratio is currently 24.62%.

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.