Northern Trust Corp Increases Stake in Liberty Energy Inc. (NYSE:LBRT)

Northern Trust Corp lifted its holdings in Liberty Energy Inc. (NYSE:LBRT - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,067,391 shares of the company's stock after buying an additional 151,019 shares during the quarter. Northern Trust Corp owned approximately 1.27% of Liberty Energy worth $41,120,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Harbour Capital Advisors LLC acquired a new position in Liberty Energy during the 4th quarter valued at about $498,000. Principal Financial Group Inc. boosted its holdings in Liberty Energy by 2.8% during the fourth quarter. Principal Financial Group Inc. now owns 897,040 shares of the company's stock valued at $17,842,000 after acquiring an additional 24,825 shares during the period. Raymond James Financial Inc. bought a new stake in Liberty Energy during the fourth quarter valued at about $6,792,000. Barclays PLC raised its stake in Liberty Energy by 197.9% during the 3rd quarter. Barclays PLC now owns 286,661 shares of the company's stock valued at $5,471,000 after purchasing an additional 190,445 shares during the last quarter. Finally, Miller Howard Investments Inc. NY increased its position in shares of Liberty Energy by 315.8% during the 4th quarter. Miller Howard Investments Inc. NY now owns 133,169 shares of the company's stock worth $2,649,000 after purchasing an additional 101,144 shares in the last quarter. Institutional investors and hedge funds own 98.22% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. TD Cowen increased their price objective on shares of Liberty Energy from $10.00 to $13.00 and gave the company a "hold" rating in a report on Monday, April 21st. Wells Fargo & Company restated an "equal weight" rating and set a $11.00 price objective (down from $20.00) on shares of Liberty Energy in a research note on Tuesday, April 8th. Royal Bank of Canada lowered shares of Liberty Energy from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $24.00 to $19.00 in a research note on Monday, March 24th. Cowen reissued a "hold" rating on shares of Liberty Energy in a report on Monday, April 21st. Finally, Morgan Stanley upgraded shares of Liberty Energy from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $20.00 to $25.00 in a research report on Thursday, March 27th. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $18.05.

Liberty Energy Trading Down 0.4%

NYSE:LBRT traded down $0.06 during trading hours on Wednesday, reaching $12.59. The company's stock had a trading volume of 488,020 shares, compared to its average volume of 2,758,679. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.97 and a current ratio of 1.27. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 6.73 and a beta of 0.71. The firm has a 50-day simple moving average of $12.94 and a 200-day simple moving average of $16.71. Liberty Energy Inc. has a 1 year low of $9.50 and a 1 year high of $24.75.

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 analysts' consensus estimates of $0.03 by $0.01. The business had revenue of $977.46 million for the quarter, compared to the consensus estimate of $960.64 million. Liberty Energy had a net margin of 7.32% and a return on equity of 14.28%. During the same period in the prior year, the business posted $0.48 earnings per share. Research 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 will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Friday, June 6th. Liberty Energy's dividend payout ratio (DPR) is 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.