Renaissance Technologies LLC Raises Stake in Liberty Energy Inc. (NYSE:LBRT)

Renaissance Technologies LLC grew its holdings in shares of Liberty Energy Inc. (NYSE:LBRT – Get Rating) by 436.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 741,400 shares of the company’s stock after acquiring an additional 603,300 shares during the quarter. Renaissance Technologies LLC owned 0.41% of Liberty Energy worth $9,401,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. SeaCrest Wealth Management LLC purchased a new position in Liberty Energy in the 2nd quarter worth $38,000. Freemont Management S.A. purchased a new position in shares of Liberty Energy in the third quarter worth about $81,000. CastleArk Alternatives LLC bought a new stake in shares of Liberty Energy in the 2nd quarter valued at about $86,000. Great West Life Assurance Co. Can bought a new position in Liberty Energy during the 3rd quarter worth approximately $87,000. Finally, Rockefeller Capital Management L.P. grew its position in Liberty Energy by 8.3% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 9,427 shares of the company’s stock worth $119,000 after acquiring an additional 725 shares during the last quarter. 85.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LBRT. Morgan Stanley dropped their price objective on Liberty Energy from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, January 4th. Citigroup reduced their target price on Liberty Energy from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, January 27th. Finally, Piper Sandler raised their target price on Liberty Energy from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, November 18th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.41.

Liberty Energy Stock Up 0.4 %

Shares of NYSE:LBRT opened at $16.47 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 1.14 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $15.51 and a two-hundred day simple moving average of $15.38. Liberty Energy Inc. has a 12-month low of $10.71 and a 12-month high of $20.05. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 7.73, a PEG ratio of 0.82 and a beta of 2.14.

Liberty Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 20th. Investors of record on Monday, March 6th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Friday, March 3rd. Liberty Energy’s payout ratio is 9.43%.

Liberty Energy Profile

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Liberty Energy, Inc engages in the provision of hydraulic fracturing services to onshore oil and natural gas exploration and production companies in North America. The company was founded on December 21, 2016 and is headquartered in Denver, CO.