Northern Trust Corp Has $41.12 Million Stock Holdings in Liberty Energy Inc. (NYSE:LBRT)

Northern Trust Corp raised its stake in Liberty Energy Inc. (NYSE:LBRT - Free Report) by 7.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,067,391 shares of the company's stock after acquiring an additional 151,019 shares during the period. Northern Trust Corp owned 1.27% of Liberty Energy worth $41,120,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LBRT. Barclays PLC grew its holdings in Liberty Energy by 197.9% in the 3rd quarter. Barclays PLC now owns 286,661 shares of the company's stock worth $5,471,000 after buying an additional 190,445 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Liberty Energy by 14.6% during the third quarter. Tidal Investments LLC now owns 14,299 shares of the company's stock valued at $273,000 after purchasing an additional 1,817 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Liberty Energy by 4.5% in the third quarter. Principal Financial Group Inc. now owns 872,215 shares of the company's stock worth $16,651,000 after buying an additional 37,927 shares during the period. Harbor Capital Advisors Inc. grew its position in Liberty Energy by 0.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 82,223 shares of the company's stock worth $1,635,000 after purchasing an additional 708 shares in the last quarter. Finally, Cooper Financial Group purchased a new position in shares of Liberty Energy during the fourth quarter valued at $209,000. Institutional investors and hedge funds own 98.22% of the company's stock.

Liberty Energy Price Performance

Liberty Energy stock traded up $0.17 during trading hours on Friday, hitting $12.08. 1,673,492 shares of the stock were exchanged, compared to its average volume of 2,769,106. The business's 50-day moving average is $13.05 and its two-hundred day moving average is $16.78. Liberty Energy Inc. has a 12 month low of $9.50 and a 12 month high of $24.75. The stock has a market capitalization of $1.96 billion, a P/E ratio of 6.46 and a beta of 0.71. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.97 and a current ratio of 1.27.

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. The company had revenue of $977.46 million for the quarter, compared to analyst estimates 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 earned $0.48 earnings per share. Equities research analysts expect that Liberty Energy Inc. will post 0.58 EPS for the current fiscal year.

Liberty Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Friday, June 6th. Liberty Energy's dividend payout ratio (DPR) is presently 21.19%.

Analysts Set New Price Targets

Several research firms have weighed in on LBRT. Stifel Nicolaus dropped their price objective on shares of Liberty Energy from $23.00 to $22.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Citigroup reduced their target price on Liberty Energy from $16.00 to $13.50 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Royal Bank of Canada cut shares of Liberty Energy from an "outperform" rating to a "sector perform" rating and decreased their price target for the company from $24.00 to $19.00 in a report on Monday, March 24th. Wells Fargo & Company reissued an "equal weight" rating and issued a $11.00 price objective (down from $20.00) on shares of Liberty Energy in a research report on Tuesday, April 8th. Finally, Barclays decreased their target price on Liberty Energy from $17.00 to $16.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Seven research 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $18.05.

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.