Lord Abbett & CO. LLC Reduces Position in Liberty Energy Inc. (NYSE:LBRT)

Lord Abbett & CO. LLC reduced its holdings in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 25.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 969,286 shares of the company's stock after selling 334,482 shares during the period. Lord Abbett & CO. LLC owned 0.59% of Liberty Energy worth $19,279,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

LBRT has been the subject of a number of research analyst reports. TD Cowen lifted their price target on shares of Liberty Energy from $10.00 to $13.00 and gave the stock a "hold" rating in a research note on Monday, April 21st. Citigroup cut their target price on shares of Liberty Energy from $16.00 to $13.50 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Royal Bank of Canada cut Liberty Energy from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from $24.00 to $19.00 in a report on Monday, March 24th. Cowen reiterated a "hold" rating on shares of Liberty Energy in a research report on Monday, April 21st. Finally, Barclays dropped 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 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 company. Based on data from MarketBeat, Liberty Energy has an average rating of "Moderate Buy" and a consensus price target of $18.05.

Insiders Place Their Bets

In other Liberty Energy news, CFO Michael Stock sold 10,000 shares of the company's stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 717,292 shares in the company, valued at $12,868,218.48. This represents a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.90% of the company's stock.

Liberty Energy Price Performance

Shares of NYSE:LBRT traded up $0.45 during trading on Friday, hitting $12.34. 1,045,918 shares of the company's stock were exchanged, compared to its average volume of 2,743,570. The business's 50-day simple moving average is $13.67 and its 200 day simple moving average is $17.07. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.27 and a quick ratio of 0.97. Liberty Energy Inc. has a 52-week low of $9.50 and a 52-week high of $24.75. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 6.59 and a beta of 1.18.

Liberty Energy (NYSE:LBRT - Get Free Report) last posted its earnings results on Wednesday, April 16th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. The company had revenue of $977.46 million during the quarter, compared to analysts' expectations 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 last year, the company posted $0.48 earnings per share. As a group, equities analysts predict that Liberty Energy Inc. will post 0.58 EPS for the current 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 annualized dividend and a yield of 2.59%. The ex-dividend date is Friday, June 6th. Liberty Energy's dividend payout ratio is presently 21.19%.

About Liberty Energy

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.