Voloridge Investment Management LLC reduced its stake in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 58.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 294,989 shares of the company's stock after selling 407,634 shares during the quarter. Voloridge Investment Management LLC owned 0.18% of Liberty Energy worth $5,867,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Xponance Inc. grew its position in shares of Liberty Energy by 7.0% in the 4th quarter. Xponance Inc. now owns 11,263 shares of the company's stock worth $224,000 after acquiring an additional 733 shares in the last quarter. Empirical Finance LLC boosted its position in Liberty Energy by 2.2% during the 4th quarter. Empirical Finance LLC now owns 54,149 shares of the company's stock valued at $1,077,000 after purchasing an additional 1,185 shares during the period. CIBC Private Wealth Group LLC boosted its position in 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 purchasing an additional 1,583 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Liberty Energy by 1.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 90,110 shares of the company's stock valued at $1,792,000 after purchasing an additional 1,703 shares during the period. Finally, Principal Securities Inc. boosted its position in Liberty Energy by 13.7% during the 4th quarter. Principal Securities Inc. now owns 15,334 shares of the company's stock valued at $305,000 after purchasing an additional 1,849 shares during the period. 98.22% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on LBRT shares. The Goldman Sachs Group reduced their price objective on Liberty Energy from $19.00 to $14.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. 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 report on Wednesday. Citigroup reduced their price objective on Liberty Energy from $16.00 to $13.50 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley reduced their price objective on Liberty Energy from $25.00 to $20.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, Cowen reiterated a "hold" rating on shares of Liberty Energy in a research report on Monday, April 21st. Eight analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Liberty Energy currently has a consensus rating of "Moderate Buy" and an average price target of $17.14.
Read Our Latest Research Report on LBRT
Liberty Energy Price Performance
Shares of LBRT traded down $0.45 during midday trading on Friday, reaching $11.59. The stock had a trading volume of 2,936,335 shares, compared to its average volume of 2,796,372. Liberty Energy Inc. has a 52 week low of $9.50 and a 52 week high of $24.75. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.27 and a quick ratio of 0.97. The firm's 50 day moving average price is $12.21 and its 200-day moving average price is $16.20. The company has a market capitalization of $1.88 billion, a P/E ratio of 6.20 and a beta of 0.71.
Liberty Energy (NYSE:LBRT - Get Free Report) last announced its earnings results on Wednesday, April 16th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.01. Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. The company had revenue of $977.46 million for the quarter, compared to analyst estimates of $960.64 million. During the same period in the previous year, the firm earned $0.48 earnings per share. On average, analysts forecast that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.
Liberty Energy Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, June 6th. Liberty Energy's payout ratio is 21.19%.
About Liberty Energy
(
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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