T. Rowe Price Investment Management Inc. Has $39.56 Million Stock Holdings in Liberty Energy Inc. (NYSE:LBRT)

T. Rowe Price Investment Management Inc. trimmed its position in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 61.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,988,829 shares of the company's stock after selling 3,199,265 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 1.22% of Liberty Energy worth $39,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Blue Trust Inc. boosted its position in Liberty Energy by 604.9% during 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 period. CIBC Private Wealth Group LLC grew its stake 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 valued at $47,000 after buying an additional 1,583 shares during the last quarter. Spire Wealth Management bought a new position in Liberty Energy in the 4th quarter worth $60,000. Smartleaf Asset Management LLC raised 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 acquiring an additional 2,184 shares during the period. Finally, Lee Danner & Bass Inc. acquired a new position in Liberty Energy during the 4th quarter worth $99,000. Institutional investors own 98.22% of the company's stock.

Insiders Place Their Bets

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

Liberty Energy Price Performance

Shares of LBRT stock traded down $0.73 during trading hours on Wednesday, hitting $11.50. 3,113,713 shares of the company's stock were exchanged, compared to its average volume of 2,743,387. Liberty Energy Inc. has a 52 week low of $9.50 and a 52 week high of $24.75. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 6.15 and a beta of 1.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.27 and a quick ratio of 0.97. The stock's 50-day moving average is $13.79 and its 200-day moving average is $17.12.

Liberty Energy (NYSE:LBRT - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The company reported $0.04 EPS for the quarter, beating 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 business had revenue of $977.46 million for the quarter, compared to analysts' expectations of $960.64 million. During the same period in the prior year, the firm earned $0.48 earnings per share. As a group, research analysts forecast that Liberty Energy Inc. will post 0.58 EPS for the current year.

Liberty Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Friday, June 6th. Liberty Energy's dividend payout ratio is 21.19%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LBRT. Citigroup lowered their price target on Liberty Energy from $16.00 to $13.50 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Cowen reiterated a "hold" rating on shares of Liberty Energy in a report on Monday, April 21st. Stifel Nicolaus lowered 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. The Goldman Sachs Group cut their target price on shares of Liberty Energy from $19.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Finally, TD Cowen raised their price target on shares of Liberty Energy from $10.00 to $13.00 and gave the stock a "hold" rating in a research report on Monday, April 21st. Seven analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Liberty Energy presently has a consensus rating of "Moderate Buy" and an average target price of $18.05.

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.