Vanguard Group Inc. grew its stake in Liberty Energy Inc. (NYSE:LBRT - Free Report) by 6.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,443,909 shares of the company's stock after buying an additional 1,128,491 shares during the quarter. Vanguard Group Inc. owned 11.39% of Liberty Energy worth $291,967,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in LBRT. PNC Financial Services Group Inc. lifted its position in shares of Liberty Energy by 45.3% in the first 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 in the last quarter. Pekin Hardy Strauss Inc. bought a new stake in Liberty Energy during the first quarter worth $161,000. Sowell Financial Services LLC bought a new stake in Liberty Energy during the first quarter worth $162,000. Personal CFO Solutions LLC bought a new stake in Liberty Energy during the first quarter worth $191,000. Finally, First Citizens Bank & Trust Co. bought a new stake in Liberty Energy during the first quarter worth $197,000. Institutional investors and hedge funds own 98.22% of the company's stock.
Analyst Upgrades and Downgrades
LBRT has been the topic of several analyst reports. Stifel Nicolaus dropped their price target on shares of Liberty Energy from $20.00 to $19.00 and set a "buy" rating on the stock in a research report on Monday, July 28th. Morgan Stanley dropped their price target on shares of Liberty Energy from $25.00 to $20.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. JPMorgan Chase & Co. dropped their price target on shares of Liberty Energy from $16.00 to $13.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Citigroup dropped their price target on shares of Liberty Energy from $16.00 to $13.50 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Finally, Piper Sandler dropped their price target on shares of Liberty Energy from $14.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Liberty Energy has an average rating of "Moderate Buy" and an average target price of $15.05.
Check Out Our Latest Report on LBRT
Liberty Energy Trading Down 2.4%
LBRT stock opened at $10.97 on Monday. 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 company's 50-day simple moving average is $12.13 and its 200 day simple moving average is $13.30. Liberty Energy Inc. has a 52 week low of $9.50 and a 52 week high of $23.58. The company has a market capitalization of $1.78 billion, a PE ratio of 8.44 and a beta of 0.67.
Liberty Energy (NYSE:LBRT - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.02). Liberty Energy had a net margin of 5.29% and a return on equity of 6.01%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company posted $0.64 earnings per share. The company's revenue was down 10.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Liberty Energy Inc. will post 0.58 earnings per share for the current year.
Liberty Energy Announces Dividend
The business also recently announced 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. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.9%. Liberty Energy's dividend payout ratio is 24.62%.
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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