Victory Capital Management Inc. Sells 276,378 Shares of Liberty Energy Inc. (NYSE:LBRT)

Key Points

• Victory Capital Management Inc. has reduced its stake in Liberty Energy Inc. by 45.2%, now holding 335,268 shares worth approximately $5.31 million.
• Analysts have set varied price targets for Liberty Energy, with an average target price of $15.65 and a consensus rating of "Moderate Buy."
• The company reported $0.12 EPS in its last quarterly earnings, missing estimates, and its revenue decreased by 10.1% compared to the previous year.

Victory Capital Management Inc. cut its holdings in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 45.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 335,268 shares of the company's stock after selling 276,378 shares during the quarter. Victory Capital Management Inc. owned about 0.21% of Liberty Energy worth $5,307,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LBRT. Xponance Inc. boosted its position in shares of Liberty Energy by 7.0% in the fourth quarter. Xponance Inc. now owns 11,263 shares of the company's stock valued at $224,000 after acquiring an additional 733 shares during the period. Yousif Capital Management LLC grew its holdings in shares of Liberty Energy by 1.5% during the 1st quarter. Yousif Capital Management LLC now owns 62,536 shares of the company's stock valued at $990,000 after purchasing an additional 914 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of Liberty Energy by 257.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,197 shares of the company's stock valued at $47,000 after acquiring an additional 1,583 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Liberty Energy by 1.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 90,110 shares of the company's stock worth $1,792,000 after purchasing an additional 1,703 shares during the period. Finally, Benjamin Edwards Inc. boosted its position in shares of Liberty Energy by 4.9% during the 4th quarter. Benjamin Edwards Inc. now owns 42,471 shares of the company's stock valued at $845,000 after purchasing an additional 1,966 shares in the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on LBRT. Cowen reissued a "hold" rating on shares of Liberty Energy in a research report on Monday, April 21st. Citigroup decreased their price objective on shares of Liberty Energy from $16.00 to $13.50 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. TD Cowen boosted their price objective on Liberty Energy from $10.00 to $13.00 and gave the company a "hold" rating in a research note on Monday, April 21st. Wall Street Zen cut Liberty Energy from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Barclays dropped their price objective on Liberty Energy from $16.00 to $14.00 and set an "overweight" rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $15.15.

Liberty Energy Trading Down 4.3%

NYSE:LBRT traded down $0.55 during mid-day trading on Wednesday, reaching $12.27. 3,760,647 shares of the company's stock traded hands, compared to its average volume of 4,452,305. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.16 and a quick ratio of 0.91. Liberty Energy Inc. has a 12-month low of $9.50 and a 12-month high of $24.43. The company has a 50 day moving average price of $12.24 and a 200-day moving average price of $14.28. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 9.44 and a beta of 0.66.

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

Liberty Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Thursday, September 4th. Liberty Energy's payout ratio is presently 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.