Wealth Enhancement Advisory Services LLC Boosts Stock Holdings in Liberty Energy Inc. $LBRT

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Liberty Energy Inc. by 61.0%, acquiring a total of 77,369 shares valued at approximately $935,000.
• Analysts have varied opinions on Liberty Energy, with target prices ranging from $12.00 to $19.00, illustrating a mixed outlook on the stock's performance.
• Liberty Energy recently declared a quarterly dividend of $0.08 per share, representing an annual yield of 2.5%.

Wealth Enhancement Advisory Services LLC raised its holdings in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 61.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,369 shares of the company's stock after buying an additional 29,301 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Liberty Energy were worth $935,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LBRT. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Liberty Energy during the first quarter valued at about $50,000. PNC Financial Services Group Inc. boosted its position in Liberty Energy by 45.3% during the first quarter. PNC Financial Services Group Inc. now owns 4,465 shares of the company's stock valued at $71,000 after buying an additional 1,392 shares during the period. Pekin Hardy Strauss Inc. purchased a new stake in Liberty Energy during the first quarter valued at about $161,000. Sowell Financial Services LLC purchased a new stake in Liberty Energy during the first quarter valued at about $162,000. Finally, Cooper Financial Group boosted its position in Liberty Energy by 10.9% during the first quarter. Cooper Financial Group now owns 11,641 shares of the company's stock valued at $184,000 after buying an additional 1,145 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 firms have recently weighed in on LBRT. Barclays dropped their target price on shares of Liberty Energy from $16.00 to $14.00 and set an "overweight" rating for the company in a report on Tuesday, July 29th. Wall Street Zen lowered shares of Liberty Energy from a "hold" rating to a "sell" rating in a report on Saturday, September 20th. Piper Sandler dropped their target price on shares of Liberty Energy from $14.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, August 14th. Wells Fargo & Company increased their target price on shares of Liberty Energy from $11.00 to $12.00 and gave the stock an "equal weight" rating in a report on Thursday, June 5th. Finally, Stifel Nicolaus dropped their target price on shares of Liberty Energy from $20.00 to $19.00 and set a "buy" rating for the company in a report on Monday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $15.05.

Liberty Energy Price Performance

Shares of NYSE LBRT opened at $12.71 on Friday. Liberty Energy Inc. has a fifty-two week low of $9.50 and a fifty-two week high of $23.58. The company has a 50 day simple moving average of $11.44 and a two-hundred day simple moving average of $12.08. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 9.78 and a beta of 0.74. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.91 and a current ratio of 1.16.

Liberty Energy (NYSE:LBRT - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the business posted $0.64 EPS. Liberty Energy's revenue for the quarter was down 10.1% on a year-over-year basis. Analysts expect that Liberty Energy Inc. will post 0.58 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.32 annualized dividend and a dividend yield of 2.5%. Liberty Energy's dividend payout ratio (DPR) is 24.62%.

Liberty Energy 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.

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