Wells Fargo & Company MN Has $2.48 Million Holdings in Liberty Energy Inc. (NYSE:LBRT)

Wells Fargo & Company MN decreased its holdings in Liberty Energy Inc. (NYSE:LBRT) by 66.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 124,443 shares of the company’s stock after selling 243,568 shares during the quarter. Wells Fargo & Company MN owned approximately 0.08% of Liberty Energy worth $2,475,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in Liberty Energy by 61.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,146,179 shares of the company’s stock worth $60,061,000 after buying an additional 1,193,918 shares during the period. Harbour Capital Advisors LLC bought a new position in shares of Liberty Energy during the fourth quarter worth about $498,000. Principal Financial Group Inc. lifted its stake in shares of Liberty Energy by 2.8% in the fourth quarter. Principal Financial Group Inc. now owns 897,040 shares of the company’s stock worth $17,842,000 after acquiring an additional 24,825 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Liberty Energy in the fourth quarter worth approximately $6,792,000. Finally, Franklin Resources Inc. boosted its holdings in Liberty Energy by 2.4% in the third quarter. Franklin Resources Inc. now owns 2,631,360 shares of the company’s stock valued at $53,706,000 after acquiring an additional 61,909 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Liberty Energy Stock Performance

Shares of LBRT stock opened at $12.17 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 0.20. The firm has a fifty day simple moving average of $14.37 and a two-hundred day simple moving average of $17.41. Liberty Energy Inc. has a 12 month low of $9.50 and a 12 month high of $24.75. The firm has a market capitalization of $1.97 billion, a PE ratio of 6.51 and a beta of 1.18.

Liberty Energy (NYSE:LBRT) last posted its earnings results on Wednesday, April 16th. The company reported $0.04 EPS for the quarter, topping 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 company had revenue of $977.46 million during the quarter, compared to the consensus estimate of $960.64 million. During the same period in the previous year, the firm posted $0.48 earnings per share. Analysts forecast that Liberty Energy Inc. will post 0.58 EPS for the current fiscal year.

Liberty Energy Announces Dividend

The business also recently disclosed 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 2.63%. The ex-dividend date is Friday, June 6th. Liberty Energy’s dividend payout ratio (DPR) is presently 21.19%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on LBRT shares. Wells Fargo & Company restated an “equal weight” rating and set a $11.00 price target (down previously from $20.00) on shares of Liberty Energy in a report on Tuesday, April 8th. Royal Bank of Canada downgraded shares of Liberty Energy from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $24.00 to $19.00 in a research note on Monday, March 24th. Barclays cut their price target on shares of Liberty Energy from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Tuesday. Citigroup lowered their price objective on Liberty Energy from $16.00 to $13.50 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Morgan Stanley raised Liberty Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $20.00 to $25.00 in a research note on Thursday, March 27th. Seven 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.05.

Insider Activity

In related news, CFO Michael Stock sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $17.94, for a total transaction of $179,400.00. Following the transaction, the chief financial officer now directly owns 717,292 shares of the company’s stock, valued at $12,868,218.48. This trade represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.90% of the company’s stock.

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.