Invesco Ltd. Trims Stock Position in Liberty Energy Inc. (NYSE:LBRT)

Invesco Ltd. cut its stake in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,558,948 shares of the company's stock after selling 130,253 shares during the quarter. Invesco Ltd. owned about 0.95% of Liberty Energy worth $31,007,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. CIBC Private Wealth Group LLC increased its holdings in Liberty Energy by 257.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,197 shares of the company's stock worth $47,000 after buying an additional 1,583 shares during the period. Blue Trust Inc. increased its stake in shares of Liberty Energy by 604.9% in the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the company's stock worth $47,000 after acquiring an additional 2,111 shares during the period. Spire Wealth Management acquired a new stake in shares of Liberty Energy in the fourth quarter worth $60,000. Smartleaf Asset Management LLC raised its holdings in shares of Liberty Energy by 176.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,423 shares of the company's stock worth $67,000 after purchasing an additional 2,184 shares during the last quarter. Finally, Lee Danner & Bass Inc. acquired a new position in Liberty Energy during the fourth quarter valued at $99,000. 98.22% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Michael Stock sold 10,000 shares of Liberty Energy stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $17.94, for a total transaction of $179,400.00. Following the transaction, the chief financial officer now owns 717,292 shares in the company, valued at $12,868,218.48. The trade was a 1.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. TD Cowen increased their price target on Liberty Energy from $10.00 to $13.00 and gave the stock a "hold" rating in a research report on Monday. Barclays dropped their target price on Liberty Energy from $17.00 to $16.00 and set an "overweight" rating on the stock in a report on Tuesday. Cowen reissued a "hold" rating on shares of Liberty Energy in a report on Monday. Citigroup dropped their price objective on shares of Liberty Energy from $16.00 to $13.50 and set a "neutral" rating on the stock in a research note on Tuesday. Finally, Seaport Res Ptn upgraded shares of Liberty Energy from a "hold" rating to a "strong-buy" rating in a research note on Sunday, January 5th. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Liberty Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.05.

Liberty Energy Price Performance

LBRT stock traded up $0.26 during midday trading on Wednesday, reaching $12.27. The stock had a trading volume of 434,874 shares, compared to its average volume of 3,565,027. Liberty Energy Inc. has a 52-week low of $9.50 and a 52-week high of $24.75. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 0.20. The company's fifty day simple moving average is $14.59 and its 200 day simple moving average is $17.49. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 6.56 and a beta of 1.18.

Liberty Energy (NYSE:LBRT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. Liberty Energy had a net margin of 7.32% and a return on equity of 14.28%. The firm had revenue of $977.46 million for the quarter, compared to the consensus estimate of $960.64 million. During the same period last year, the firm posted $0.48 earnings per share. As a group, sell-side analysts predict that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Friday, June 6th. Liberty Energy's dividend payout ratio is currently 21.19%.

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.